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FameEX Morning Crypto News Recap | March 28, 2023

2023-03-28 11:47:20

US Authorities Charge Binance, a Cryptocurrency Leader, and its CEO with Regulatory Violations
The US Commodity Futures Trading Commission (CFTC) has charged Binance, the largest cryptocurrency exchange in the world, and its CEO, Zhao Changpeng, with numerous violations. The CFTC has alleged that Binance is operating an "illegal" exchange and has a fake compliance program. This latest action is part of a growing crackdown on the cryptocurrency sector by US regulators, who have been increasingly concerned about the industry's non-compliance with anti-money laundering and other regulations.

90% of Ethereum Supply Moved off Exchanges Due to Regulatory Uncertainty Regarding ETH's Classification as a Security or Commodity
As a second-generation cryptocurrency, Ethereum brought DeFi to the crypto space, becoming not only the second-largest but also the most targeted by regulators. Its Proof of Stake transition plan has raised concerns and brought repeated regulatory scrutiny, leading to a decline in value and confidence in exchanges. Despite this, Ethereum's innovative technology continues to attract interest from users and investors, and its upcoming ETH 2.0 upgrade is highly anticipated, with hopes of addressing some of the platform's scalability and efficiency issues.

VC Funding Drives 120% Surge in Investment for European DeFi Startups in 2022
The year 2022 was marked by a tumultuous market for the crypto industry, with high-profile collapses of major players like Terra and FTX. Despite the challenges, venture capital investments in European crypto startups hit an all-time high of $5.7 billion, demonstrating that VC investors still believe in the potential of crypto startups. This signals a positive outlook for the industry despite the bear market and other setbacks, and suggests that VC investors are committed to supporting the development and growth of crypto startups.

Regulation of Cryptocurrencies to be Transferred to Taiwan's Financial Watchdog, FSC
By March or April 2023, Taiwanese lawmakers aim to finalize a regulatory framework for cryptocurrencies. As part of this development, the Financial Supervisory Commission (FSC) will take on the primary role of regulating the crypto industry in Taiwan. FSC chairman Huang Tien-mu announced this decision recently, which marks a significant step towards regulating cryptocurrencies in the country.

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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