FameEX Morning Crypto News Recap | April 5, 2023
Bitcoin Advocates Criticize Twitter's Doge Logo Change as 'Totally Irresponsible
Twitter's recent change of logo from a blue bird to a cartoon image of the Shiba Inu Doge, the mascot of meme cryptocurrency Dogecoin, has caused controversy among the cryptocurrency community. The value of Dogecoin has risen by 27% in the past 12 hours since the logo change. However, some bitcoin supporters have criticized Elon Musk for promoting "unregistered securities" by changing the logo to a meme associated with Dogecoin.
Brazil's BTG Pactual Investment Bank to Release Stablecoin backed by the US Dollar
Brazilian investment bank, BTG Pactual, has announced the launch of its own stablecoin, BTG Dol. Backed by the US dollar, the stablecoin will be available on BTG Pactual's crypto platform, Mynt, which also supports 22 other cryptocurrencies. The launch of the stablecoin comes after BTG Pactual's previous foray into digital assets, which included the launch of its own security token and crypto asset platform.
Blocking of AI Chatbot ChatGPT by Italian Regulator Draws Criticism
Italian regulators' temporary ban on the conversational artificial intelligence (AI) ChatGPT over privacy concerns has sparked criticism from figures in the tech industry and the country, including expert Ron Moscona and Deputy PM Matteo Salvini. The ban on ChatGPT, which is trained to respond to users' questions and generate natural language responses, has been criticized as excessive and indicative of Italy's slow adoption of new technologies. The incident has highlighted the importance of balancing innovation with privacy concerns.
Texas Senate Committee Gives Green Light to Controversial Bill Targeting Bitcoin Mining
The Texas Senate has made progress in imposing stricter regulations on Bitcoin mining, with the proposed Senate Bill 1751 aiming to regulate Bitcoin miners' interactions with the power grid and tax their earnings. Introduced by a trio of GOP state senators, the bill seeks to address the high energy consumption required to maintain Bitcoin's network. The move raises the question of whether other states will follow suit in introducing tighter regulations on Bitcoin mining.
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