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FameEX Morning Crypto News Recap | April 21, 2023

2023-04-21 12:21:11

What Does the Approval of MiCA by the European Parliament Mean for the Future of the Crypto Industry in the EU?
The Markets in Crypto-Assets (MiCA) regulation has been approved by the European Parliament to regulate the crypto industry in EU member countries. This is a significant advancement because previously, crypto companies had to follow 27 distinct regulatory frameworks across EU member states, resulting in significant expenses and difficulties.

Here's an alternative: "Centralization Criticism Plagues Euro Stablecoin, with "Worst Code Ever Seen" Label"
Here's a possible rewrite: Despite not yet being available to the public, a euro-pegged stablecoin is already receiving severe backlash due to centralization concerns. Some experts have even gone so far as to label it a "laughing stock." The founder of an NFT project took to Twitter to express his disapproval, describing the stablecoin's code as the "worst" he had ever seen.

TransUnion to Offer Secure Credit Scoring for DeFi Lending
TransUnion, a major US credit reporting agency, has announced its intention to offer credit scoring services to public blockchain networks. This move is significant because previously off-chain credit data had not been accessible to decentralized finance (DeFi) and Web3 applications. This development is expected to give DeFi and Web3 apps access to additional data, which will allow for more informed credit decisions, potentially making DeFi a more widely adopted financial alternative.

Researchers Discover Cryptocurrency Has "Signatures of Maturity" Like Equities Market
Computer science researchers from the University of Melbourne and Tsinghua University have conducted a pre-print research study comparing the cryptocurrency market to traditional equities. The study found that the crypto market is demonstrating comparable signs of maturity, indicating that it is moving towards a more stable and regulated environment similar to the traditional equities market.

Regulatory Certainty Fails to Boost Demand for Hong Kong Crypto ETFs
Despite being the first in Asia to offer crypto ETF products, Hong Kong's crypto ETFs only saw an average daily trading volume of $1.19 million between December and early February. This low demand suggests that investors are still wary of investing in crypto ETFs, even with regulatory clarity.

DeFi Growth Spurs Adoption of Ethereum Layer-2 Scaling Platform zkSync, with 1inch Deployment
1inch, a decentralized finance (DeFi) protocol, has deployed its aggregation and limit order protocols on Ethereum's zkSync Era, allowing for faster and cheaper transactions. With this deployment, 1inch joins a growing list of DeFi protocols and Ethereum-based platforms, such as Uniswap, SushiSwap, Maker, and Curve Finance, that have adopted the zero-knowledge proof-based scaling platform.

Privacy and Job Losses Top Concerns for Americans Regarding AI
A Pew Research survey has found that many Americans have reservations about the impact of artificial intelligence (AI) on employment. While some respondents appreciated the efficiency of AI-driven recruitment, others were apprehensive about privacy violations, impact on assessments, and the potential for job losses. The survey involved 11,004 U.S. adults and took place in mid-December 2022.

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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