FameEX Afternoon Crypto News Recap | April 4, 2023

UK Treasury Releases Draft Statutory Order to Regulate Crypto Marketing
https://www.fameex.com/en-AU/news/crypto-trending-news-2023040403
The UK government has released a draft of the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023. The order aims to strengthen oversight of cryptoasset activities and improve consumer protection standards. It follows a consultation in July 2020 and responses in January 2022, and forms part of a wider package of measures designed to bring greater certainty to businesses operating in the crypto industry.

Kenyan Bill Would Broaden Securities Definition to Cover Crypto Assets, According to Reports
Kenyan Parliament to Debate Bill Bringing Crypto Assets under Capital Markets Authority Oversight; Proposes Expanding Securities Definition to Cover Digital Currencies and Requiring Licensed Parties to Record Transactions and Pay Taxes on Profits.

Regulators Should Factor in Crypto Risks When Innovating Regulations, Advises Chinese Central Bank Official
Chinese Central Bank Official Urges Regulators to Prioritize Crypto Risks and Fraud in Regulatory Innovation, Highlighting Recent US Bank Failures. Stresses Need to Upgrade Regulatory Philosophy, Technology, and Capabilities to Ensure Financial Stability in the Face of Financial Innovation.

Bitcoin Correlation with Gold Surges to Multi-Year High, Outpacing US Equities, Reports Show
Bitcoin's Correlation with Gold Hits Multi-Year High, Surpassing US Equities, Reports Find. Q1 2023 Shows Bitcoin Outperforming Gold, US Equities, and Three Stock Indices by Nearly Four Times, Demonstrating Strong Performance as an Asset Class, According to Kaiko Analytics.

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