AI-Linked Tokens Surge on Nvidia Hype; Nigeria's SEC Cracks Down on Crypto

A I tokens steal the show and Nigeria cracks down on crypto firms. I'm Jen Sasi. You're watching Coin Desk daily, crypto A I tokens are in focus new data from coin gecko shows that the artificial intelligence token category rallied 25% in the past 24 hours. While Bitcoin saw gains under 1% tokens like fet which is from fetch A I render and singularity nets. A GIX are surging on speculation that a crypto product will feature at an NVIDIA Conference. Later this month. The inflows into A I tokens have put the brakes on Multiweek rallies for meme coins. Nvidia's event will be held from March 17th to 21st. Moving over to Nigeria now where the country's sec has started a fresh crackdown on crypto firms reportedly blocking access to several exchanges including Binance Coinbase and crack in the securities watchdog is updating guidelines for crypto service providers to block criminals from engaging with capital markets. That's according to media reports. In the past two weeks, reports also emerged that Nigeria's government demanded $10 billion from Binance in penalties for enabling untraceable funds to be processed in the country. And Hong Kong Central Bank announced the start of a new project called Project Ensemble. A wholesale CBD C sandbox for research and testing tokenization use cases. Hong Kong has been exploring wholesale CBD CS since 2017 and officially began researching a retail CBD C. In 2021. The Hong Kong Monetary Authority said that project Ensemble will seek to explore innovative financial market infrastructure that will facilitate seamless interbank settlement of tokenized money through W CBD CS which stands for wholesale central bank digital currency. That's a wrap for coin desk daily, get more updates on coindesk.com and we'll see you next time.