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FameEX Afternoon Crypto News Recap | March 17, 2023

2023-03-17 16:11:45

Link Between Cryptocurrency and Bank Failures Spurs Debate on Regulations
US Representative Tom Emmer has accused the Biden Administration of using market turbulence to suppress the growth of the crypto industry. Emmer has expressed concern about the regulators' utilization of recent instability in the banking industry to limit cryptocurrency activity in the United States. He has conveyed his concerns in a letter to the Chairman of the Federal Deposit Insurance Corporation (FDIC), expressing concerns that the banking closures of cryptocurrency exchanges and businesses by major banks such as JPMorgan and Bank of America are part of a broader attempt to undermine the industry.

The Fall of Silicon Valley Bank: Traditional Finance Takes the Blame
The failures and scandals within the cryptocurrency industry have resulted in a push for regulations to safeguard consumers from fraudulent activities. The recent bankruptcy of Silicon Valley Bank and the collapses of US crypto lenders Silvergate and Signature, in addition to the troubled exchange trading platform FTX, have significantly impacted the global finance sector.

Exploring Opportunities: Vietnamese Investors Enter the World of AI-powered Cryptocurrencies
The increasing usage of artificial intelligence applications, such as ChatGPT, has led to the rise of AI-driven cryptocurrencies, attracting considerable attention from Vietnamese investors. The novel incorporation of AI technology into the cryptocurrency landscape has created fresh avenues for investment, providing an opportunity for individuals to diversify their portfolios. With the continued growth in the popularity of AI-based cryptocurrencies, it is anticipated that more investors will explore this nascent market to leverage the potential advantages it offers.

Transfer of Funds from Moscow's Crypto Exchanges to London Now Possible
A report by Transparency International Russia has disclosed that specific Moscow-based digital asset exchanges can procure digital coins and transport cash to the UK. Typically, client identification is not mandatory during the process of transferring funds, according to the investigation conducted on the digital asset exchanges in the Russian capital.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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