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FameEX Morning Crypto News Recap | April 21, 2023

2023-04-21 12:21:11

After the European Parliament Passes MiCA, What's the Future of the Crypto Industry in the EU?
The European Parliament has passed the Markets in Crypto-Assets (MiCA) regulation, which will oversee the crypto industry in EU member countries. This is a significant development as prior to MiCA, crypto companies had to comply with 27 different regulatory frameworks across EU member states, which was costly and burdensome.

Euro Stablecoin Draws Criticism for Centralization Concerns: Dubbed "Worst Code I've Ever Seen"
A euro-pegged stablecoin is facing harsh criticism for its centralization concerns, with some pundits describing it as a "laughing stock". However, the stablecoin is not yet publicly accessible. The founder of an NFT project shared his harsh sentiment on Twitter, stating that it is "the worst code I've ever seen".

TransUnion to Introduce Identity-Protected Credit Scoring for DeFi Lending
TransUnion, one of the top credit reporting agencies in the US, has stated that it will provide credit scoring to public blockchain networks. This is significant because off-chain credit data has not been available to decentralized finance (DeFi) and Web3 applications previously. As a result of this development, DeFi and Web3 applications will have access to more data to make better credit decisions, potentially increasing the adoption of DeFi as a mainstream financial alternative.

Cryptocurrency Shows Signs of Maturity, Similar to Equities Market, Say Researchers
A recent pre-print research study from the University of Melbourne and Tsinghua University compared the cryptocurrency market to traditional equities and found that the crypto market is displaying similar signs of maturity. The study, conducted by computer science researchers, suggests that the cryptocurrency market is moving towards a more stable and regulated environment, akin to the traditional equities market.

Hong Kong Crypto ETFs See Lackluster Demand Despite Regulatory Clarity
Hong Kong's crypto ETFs saw an average daily trading volume of $1.19 million between December and early February, despite being the first in Asia to offer such products. The lackluster demand indicates that investors are still hesitant to invest in crypto ETFs, even with regulatory clarity.

1inch Joins Ethereum Layer-2 Scaling Platform zkSync, Driven by DeFi Growth
1inch has deployed its aggregation and limit order protocols on Ethereum's zkSync Era to benefit from faster and cheaper transactions. This move makes 1inch the latest DeFi protocol to utilize the zero-knowledge proof-based scaling platform, following other Ethereum-based platforms such as Uniswap, SushiSwap, Maker, and Curve Finance.

Americans Cite Privacy and Employment as Top Worries with AI
According to a survey conducted by Pew Research, many Americans have concerns about the impact of artificial intelligence (AI) on the workforce. While some respondents recognized the efficiency of AI-driven recruitment, others were worried about its potential to infringe on privacy, impact evaluations, and lead to job losses. The survey involved 11,004 U.S. adults and was conducted 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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