FameEX Morning Crypto News Recap | June 15, 2023
Miami Mayor Francis Suarez, an Advocate for Bitcoin, Enters the 2024 US Presidential Election Race
Miami Mayor Francis X. Suarez, known for his support of cryptocurrencies, has officially entered the 2024 US presidential race as a Republican candidate. In contrast to Joe Biden and Donald Trump, Suarez embraces crypto and has filed the necessary paperwork with the Federal Election Commission.
Federal Reserve Halts Interest Rate Increases Following 10 Consecutive Raises; Committee Anticipates Further Rate Rises in the Current Year
The US Federal Reserve has decided to pause its interest rate increases, aligning with market expectations, following a series of ten consecutive hikes in the past year. The Federal Open Market Committee (FOMC) emphasized the stability of the US banking system and affirmed their vigilance in monitoring inflation risks.
Bitcoin Mining Difficulty Surges to Unprecedented Levels Amidst Difficult Market Conditions
The Bitcoin network witnessed its third consecutive mining difficulty increase on June 14, 2023, reaching a new record high of 52.35 trillion at block height 794,304. This 2.18% surge in mining difficulty reflects the challenging market conditions faced by Bitcoin miners.
Proposed Bill by US Senators Seeks to Remove Section 230 Protection for AI Companies
US Senators Josh Hawley (Republican) and Richard Blumenthal (Democrat) jointly introduced a bill on June 14 to revoke special protections granted to artificial intelligence (AI) companies under the Communications Decency Act of 1996. This proposed legislation aims to remove the current privileges enjoyed by online computer service providers.
Human Rights Tracker for CBDC Unveiled at Oslo Freedom Forum
The Human Rights Foundation (HRF) has introduced a central bank digital currency (CBDC) tracker during the Oslo Freedom Forum. This online platform provides educational resources and a tip line, with plans to be fully operational by the end of the year. The tracker aims to promote transparency and accountability in CBDC implementations.
European Union Parliament Passes AI Act
The European Parliament has successfully passed the EU AI Act, which serves as a broad legislative framework designed to govern and regulate the utilization of artificial intelligence technologies across the European Union. This act provides guidelines and oversight mechanisms to ensure responsible and ethical AI practices within the region. Its implementation aims to foster trust, transparency, and accountability in the development and deployment of AI systems.
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