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FameEX Morning Crypto News Recap | April 11, 2023

2023-04-11 11:26:45

Brazilian Bank Introduces Stablecoin Backed by USD to Broaden Customer Investment Choices
BTG Pactual, an investment banking firm, has introduced a stablecoin backed by the US dollar to expand its digital currency offerings. The stablecoin enables customers to "dollarize" their assets, offering investment liquidity while prioritizing security and efficiency, as per the bank. This move underscores the bank's increasing embrace of blockchain technology and its potential to revolutionize traditional finance.

Texas Innovation Advocates Speak Out Against Bill Scrapping Crypto Mining Incentives and Limiting Progress
On April 4, the Texas Senate committee approved Senate Bill 1751, which will now advance to a floor vote. However, the proposed legislation has received criticism for the restrictions it would impose on crypto mining facilities and for removing incentives for crypto miners in Texas.

Google Trends Searches Show Bitcoin Becoming More Popular than Donald Trump
Bitcoin is gaining popularity in the United States, as indicated by search volume data from Ahrefs. According to the data, the state of Nevada has the highest interest in the cryptocurrency, with Bitcoin surpassing former US President Donald Trump in search popularity and becoming one of the most frequently searched terms in the country.

SEC Chief Accused of Acting in 'Bad Faith' by US Congressman
In a podcast interview on April 7th, US Congressman Tom Emmer accused SEC Chief Gary Gensler of being a "bad-faith regulator." During the discussion, Emmer and the host covered a range of topics, including concerns about the government's efforts to disconnect crypto from the banking system, Binance's legal situation, and Emmer's opposition to FedNow, the Federal Reserve's recently launched payment system. The incident highlights the ongoing friction between regulators and the cryptocurrency industry.

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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