FameEX Afternoon Crypto News Recap | March 17, 2023
Crypto Industry Accuses Biden Administration of Exploiting Market Chaos to Undermine Its Growth
US Congressman Tom Emmer has accused the Biden Administration of using market instability to "kill crypto." Emmer expressed his concern over the regulators' use of recent instability in the banking sector to restrict crypto activity in the US. He sent a letter to the FDIC Chairman Gruenberg outlining his concerns, which have arisen due to the sudden banking closures of accounts held by cryptocurrency exchanges and businesses by major banks like JPMorgan and Bank of America.
Debate over Regulations Intensifies as Bank Failures Linked to Cryptocurrency
The cryptocurrency industry has experienced multiple setbacks and high-profile failures, leading to a rush for regulation to protect consumers from fraud and scams. Silicon Valley Bank's collapse last week and the bankruptcies of US crypto lenders Silvergate and Signature, along with troubled exchange trading platform FTX, have rocked global finance.
Vietnamese Venture into AI-based Cryptocurrencies in Search of Opportunities
The adoption of artificial intelligence applications, such as ChatGPT, has led to the emergence of AI-based cryptocurrencies, resulting in a surge of interest from Vietnamese investors. The innovative use of AI technology in cryptocurrency has presented new investment opportunities for individuals looking to diversify their portfolios. As the popularity of AI-based cryptocurrencies continues to grow, it is expected that more investors will explore this emerging market and seek to capitalize on the potential benefits it offers.
Moscow's Crypto Exchanges Prepared to Transfer Funds to Londo
Transparency International Russia's report has revealed that certain digital asset exchanges in Moscow are capable of purchasing digital coins and delivering cash to the UK. The process of transferring funds typically does not require client identification, as per the investigation into the digital asset exchanges in the Russian capital.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.