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FameEX Morning Crypto News Recap | April 24, 2023

2023-04-24 12:00:45

This Week Saw a Surge in Non-Fungible Token (NFT) Sales Despite Volatility in the Crypto Market
In the face of cryptocurrency market turbulence, NFT sales demonstrated strength by increasing 7.74% in weekly sales, resulting in a total of $181.82 million. Moreover, the number of NFT buyers grew by 41% compared to the previous week, indicating an expanding interest in NFTs.

US Government Willing to Take 'Any Steps Necessary' to Preserve Financial Dominance
Janet Yellen, the US Treasury Secretary, has declared that the US government is prepared to undertake all possible measures to maintain its financial system as the world's strongest and most secure. Yellen has also stated that the US government is prepared to take punitive action against Chinese companies that violate its Russian sanctions policy.

Ukraine Adopts European Crypto Regulations, Provides Clarity on Taxation
Ukraine has declared that it plans to adopt the cryptocurrency market regulations endorsed by the European Parliament. The government is already making progress in this regard, and the tax service has clarified the taxation rules for income arising from cryptocurrency transactions.

China Issues Warning of Potential Worldwide Financial Instability Stemming 

The Chinese Ministry of Foreign Affairs has urged developed nations, specifically the US, to assess how their economic and financial policies may impact other countries. The Ministry has expressed concern that the US's policies could potentially pose the greatest risk to global financial stability.

Declining Interest Results in $730 Million Loss for Crypto AI Economy in Two Months
The crypto-AI economy, consisting of 74 listed cryptocurrencies focusing on artificial intelligence (AI), has experienced a significant decline in value in just two months, resulting in a loss of $730 million. In the last 30 days, the three most prominent AI-driven crypto projects have all suffered substantial losses against the US dollar, ranging from 10% to 29.58%. The crypto-AI economy's valuation was $4 billion less than two months ago.

Korean Central Bank Receives Authority After Financial Regulator Withdraws Objections
Korean Central Bank Receives Authorization to Probe Virtual Asset Entities as Following the withdrawal of objections by the Financial Services Commission (FSC), the South Korean central bank is expected to receive authorization to investigate virtual assets. The FSC's opposition had been seen as an attempt to become the exclusive regulator of virtual assets, prompting its reversal on the matter.

Central Bank of Zimbabwe Plans to Issue Gold-Backed Digital Currency
The Reserve Bank of Zimbabwe is aiming to stabilize its local currency by launching a digital currency backed by gold that will serve as legal tender within the country. The Zimbabwean government hopes that the introduction of the digital currency will prevent further depreciation of its currency against the US dollar.

Ukraine Plans to Adopt the Latest Cryptocurrency Regulations of the EU
After the European Parliament passed the Markets in Crypto-Assets (MiCA) regulation, Ukrainian regulators have publicly stated their plans to adopt this legislative package. MiCA is the first comprehensive legal framework for regulating cryptocurrencies and digital assets in the EU. The move demonstrates Ukraine's commitment to creating a regulatory framework for virtual assets, which it previously indicated in 2020 by working on a bill to legalize cryptocurrencies and other virtual assets.

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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