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FameEX Morning Crypto News Recap | March 24, 2023

2023-03-24 11:48:20

Potential Security Risks of Crypto Assets Highlighted by US SEC to Investors
The US Securities and Exchange Commission (SEC) has advised investors to exercise caution when dealing with crypto asset securities. The regulator cautioned that firms offering transactions involving crypto assets, including crypto asset securities, may not be adhering to US regulations. As a result, investors are urged to conduct thorough research and be cautious before investing in such assets.

Monetary Authority of Singapore to Share Feedback from Digital Currency and Stablecoin Consultation in Q2
MAS has announced that it will release the feedback it obtained from two consultation papers published in 2022 concerning the hazards of digital currency trading to safeguard investors. This decision was confirmed by MAS Chairman Tharman Shanmugaratnam in a letter to Singapore's parliament after being questioned by lawmakers. The proposals aim to minimize the risks associated with investing in digital currencies.

US Indicts Crypto Founder Do Kwon Following Montenegro Arrest
Do Kwon, the cryptocurrency entrepreneur responsible for two digital currencies that suffered losses exceeding $40 billion in 2021, has been indicted on fraud charges by US prosecutors. The unsealed eight-count indictment was filed in the US District Court in Manhattan following Kwon's arrest in Montenegro. His lawyers in the US have not responded to requests for comment as of yet.

Italian Banks Express Concern About Bank Disintermediation Despite Supporting Digital Euro
Existing commercial banks should be compensated for their role in distributing the digital euro, according to the Italian Banking Association (ABI) and the Association of German Banks. While the European Central Bank (ECB) will create the digital currency, it will be distributed by commercial banks, who will bear the costs of AML checks and dispute resolution. The banks should be incentivized for their role, the ABI said.

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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