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FameEX Morning Crypto News Recap | April 25, 2023

2023-04-25 17:13:25

The US Dollar's Future: Ron Paul Asserts that the World is Gradually Moving Away from it
Ron Paul, the former US presidential candidate and congressman, has highlighted that recent geopolitical events have prompted countries to move away from the US dollar due to currency debasement, price manipulation and sanctions against other nations. Paul argued that these factors have created fear among other countries, resulting in them abandoning the use of dollars.

Standard Chartered Bank Predicts Bitcoin Could Reach $100K in 2024, Declares End of Crypto Winter
Standard Chartered has reportedly declared the end of the crypto winter and predicted that Bitcoin could potentially reach $100K per coin by the end of 2022. According to the bank's analyst, the recent turmoil in the banking sector, among other factors, has contributed to the surge in Bitcoin's price. The bank has identified several other reasons for the crypto's growth and believes that it could continue to rise in value.

South Korean Court Determines Terra's Crypto Token LUNA is Not Regarded as a Security
The Seoul Southern District Court has ruled that LUNA, now renamed LUNC, is not a financial investment product and does not fall under the category of security. The ruling comes amidst allegations against Do Kwon, co-founder of Terraform Labs, and the recent enforcement action by the US SEC. The decision by the South Korean court clarifies its position on the matter and highlights that LUNC does not require regulation as a security in the country.

Russia to Introduce Payment System with No Limitations, Enabling Unrestricted Use of Digital Currencies
Russia's Finance Minister, Anton Siluanov, has announced a new payment system that will have no restrictions, allowing digital currencies to be used in cross-border payments. According to Siluanov, the system will allow two parties to make settlement payments without the possibility of any other country freezing the payments.

Russia Pledges to Reduce Dependence on US Dollar, Focus on National Currencies for Energy Trade
Russian Deputy Prime Minister, Alexander Novak, has announced that Russia will shift away from the US dollar and increase its usage of national currencies to settle payments for energy resources. Novak stated that the move aims to meet the growing demand for Russian energy resources and accept a wider range of currencies for settlements.

ECB Considers Access and Distribution for Digital Euro in its Third Design Progress Report

The ECB has issued its third design progress report on the digital euro, examining access and distribution options supported by the Governing Council. The report provides insights into the technical and business aspects of the digital euro project, exploring options such as payment intermediaries, direct retail access, and intermediaries with direct access to promote wider access to the digital currency.

German Regulators Initiate Inquiry into ChatGPT's Compliance with GDPR
German regulators have launched an inquiry into the privacy practices and compliance with GDPR of OpenAI's ChatGPT, presenting another obstacle for the company to continue its EU operations. The investigation aims to ensure that ChatGPT's data privacy and GDPR measures align with EU regulations.

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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