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FameEX Afternoon Crypto News Recap | March 30, 2023

2023-03-30 15:54:00

JPMorgan Introduces Blockchain-Powered Dollar Accounts for Banks in India
JPMorgan's blockchain pilot project will be limited to banks in India's GIFT City, an economic free trade zone competing with other international financial centers. The project will enable banks to open on-chain Nostro accounts for making dollar payments, according to a report in the Economic Times.

Thailand Contemplates Removing THB 300K Limit on Retail ICOs
The Thai regulator is conducting a public hearing until April 27 to gather feedback on its proposal to lift the limit for asset-backed initial coin offerings (ICOs), including those supported by real estate and infrastructure projects. Currently, retail investors are only allowed to invest up to 300,000 baht in an ICO project. Bangkok Post reported the news.

Crypto Exchange Licensing Bill to Be Discussed in Australian Parliament
A new bill introduced by Australian Senator Andrew Bragg seeks to establish a licensing framework for cryptocurrency trading platforms in the country. The bill proposes three types of licenses for exchanges, custodians, and stablecoin issuers. Bragg emphasizes the importance of swift action by parliament to provide clarity and regulatory certainty for the industry, contrasting the US approach of "clandestine" regulation.

U.S. SEC Chief Gary Gensler Seeks Additional Funding to Combat Crypto
Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), has referred to the current state of the cryptocurrency markets as the "Wild West," citing widespread non-compliance and exposure of investor funds to significant levels of risk. He stressed the importance of expanding the SEC's capabilities to keep up with the growth and complexity of the capital markets and to match the skills of unscrupulous actors.

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