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FameEX Morning Crypto News Recap | April 24, 2023

2023-04-24 11:58:05

Despite Crypto Market Volatility, Sales of Non-Fungible Tokens (NFTs) Experienced a Spike This Week
Despite a volatile week for the cryptocurrency market, non-fungible token (NFT) sales showed resilience with a 7.74% increase in weekly sales, reaching a total of $181.82 million. The number of NFT buyers also rose by 41% compared to the previous week, indicating growing interest in NFTs.

US Treasury Secretary Yellen Asserts Willingness to Take 'All Necessary Actions' to Maintain Financial Supremacy
US Treasury Secretary Janet Yellen has announced that the US government is willing to take any measures necessary to preserve its financial system as the strongest and safest in the world. She also stated that the US government is ready to take action against Chinese companies that violate its sanctions policy against Russia.

Ukraine to Implement European Crypto Regulations, Offers Taxation Clarification
Ukraine has announced its intention to adopt the cryptocurrency market regulations passed by the European Parliament. While the government is already working in this direction, the tax service has provided a clarification on the taxation of income generated from cryptocurrency transactions.

US Economic Policies Could Trigger Global Financial Instability, Warns China
China's Ministry of Foreign Affairs has called on developed countries, particularly the US, to evaluate the potential spillover effects of their economic and financial policies. The Ministry stated that the US's policies pose the most significant threat to global financial stability.

Two-Month Drop in Interest Leads to $730 Million Loss for Crypto AI Economy
In just two months, the value of 74 listed cryptocurrencies focused on artificial intelligence (AI) has dropped significantly, resulting in a loss of $730 million. The three leading AI-based crypto projects have all experienced substantial double-digit losses against the US dollar, ranging from 10% to 29.58% in the past 30 days. The crypto-AI economy had a valuation of $4 billion less than two months ago.

After Financial Regulator Drops Objections, Korean Central Bank Granted Authority 

The South Korean central bank is set to be granted the authority to investigate virtual assets after the Financial Services Commission (FSC) withdrew its objections to the move. The FSC had been accused of attempting to establish itself as the sole regulator of virtual assets, resulting in its change of position.

Zimbabwean Central Bank to Launch Digital Currency Backed by Gold
According to a survey conducted by Pew Research, many Americans have concerns In an effort to stabilize the local currency, the Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency that will function as legal tender in the country. The government hopes that the move will prevent further depreciation of the local currency against the US dollar.

Ukraine to Implement EU's Latest Cryptocurrency Regulations
Ukrainian regulators have announced their intention to implement the Markets in Crypto-Assets (MiCA) regulation, which was recently passed by the European Parliament, making it the first comprehensive legal framework for regulating cryptocurrencies and digital assets in the EU. The move shows that Ukraine is taking steps towards creating its regulatory framework for virtual assets, following the country's announcement in 2020 that it was 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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