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FameEX Morning Crypto News Recap | April 27, 2023

2023-04-27 11:06:25

New 'Layer 3' Launch by Web3 Social Media Protocol Enables Instantaneous Posting
Lens, a Web3 social media protocol, has introduced a new "layer 3" network named Bonzai, to enhance scalability for blockchain social media apps. Bonzai stores and processes posts, comments, and shares, reducing the load on the Polygon network. The move aims to improve scalability for Lens and provide quicker and more efficient social media transactions.

Draft Digital Assets Act Presented by Bahamas Securities Watchdog for Comprehensive Regulation
The Digital Assets and Registered Exchanges (DARE) Bill 2023 has been released for public consultation by The Securities Commission of The Bahamas, aiming to implement the regulations by the end of the quarter. The bill aims to provide a comprehensive regulatory framework for digital assets and registered exchanges to guarantee investor protection, mitigate risks and ensure market stability. The regulations will cover entities involved in the issuance, trading, and storage of digital assets, such as cryptocurrencies and security tokens.

South Korea's Comprehensive Crypto Bill Passes Initial Regulatory Hurdles
South Korea's Financial Services Commission has been granted authority to supervise and investigate financial activity related to cryptocurrencies, following the first phase review of proposed regulations by South Korean lawmakers. The new regulations aim to promote transparency and prevent fraud in the digital asset market by requiring compliance with anti-money laundering and customer protection measures.

Impact of Artificial Intelligence on the Music Industry's Future Growth
Artificial intelligence (AI) is revolutionizing the music industry, transforming songwriting, music production, marketing, and distribution. With its increasing popularity, AI is making a significant impact on the music industry, enabling it to evolve into new and innovative forms of music creation. The article highlights how AI is influencing and shaping the future of the music industry, with its ability to analyze data, predict trends, and provide insights into listener preferences.

UK Commits £125 Million to Establish 'Safe AI' Taskforce
The UK government has allocated £125 million ($124.8 million) to fund the creation of a new task force for artificial intelligence (AI). The task force aims to accelerate the country's readiness for AI technology, with an initial funding of £100 million ($124.8 million). The initiative aims to promote innovation, create jobs and improve people's lives. The UK Prime Minister and Technology Secretary will oversee the funding allocation to support the task force.

Surge in Google Searches for 'How to Buy Gold' and 'Bitcoin' Amid US Banking Upheaval, Reveals Google Trends
Amidst the recent banking upheaval in the United States, Google Trends has revealed a surge in searches related to buying gold and Bitcoin. The search query for acquiring gold reached a perfect score of 100 in the first week of April 2023, while the search term "how to buy bitcoin" hit the same score two weeks earlier, on March 20, 2023. The increase in searches for these assets indicates a growing interest in alternative investment options amid economic instability.

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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