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FameEX Morning Crypto News Recap | June 26, 2023

2023-06-26 11:53:30

Blockchain Aus CEO Criticizes 'Regulation by Enforcement,' Urges Caution in Following US Approach
Blockchain Australia's CEO, Simon Callaghan, expresses his desire for the Australian government to draw inspiration for crypto regulation from the United Kingdom, Hong Kong, and Singapore rather than the United States. Callaghan emphasizes the importance of avoiding the US approach.

FATF Report Highlights Subpar Implementation of Crypto Travel Rule
The Financial Action Task Force (FATF) has urged all member states to swiftly implement the Travel Rule to address regulatory gaps and prevent money laundering and terrorism financing facilitated by cryptocurrencies. The United Nations organization emphasizes the need for immediate action to combat these illicit activities.

Token Issuers in Japan Granted Exemption from 30% Crypto Tax on Paper Profits
The National Tax Agency of Japan has introduced new tax rules for token issuers, exempting them from paying corporate taxes on unrealized cryptocurrency gains. The revision, published on June 20, relieves token issuers in Japan from the tax burden associated with paper profits in the crypto market.

Amazon Commits $100M Investment in Generative AI Center
Amazon Web Services (AWS) is investing $100 million to establish an AI center, aiming to stay competitive in the cloud infrastructure services sector. The move by Amazon's cloud unit, AWS, is a response to the growing competition posed by Microsoft and Google in the field of generative artificial intelligence.

IMF Reports Increasing Interest in CBDCs in Latin America, Lula Criticizes Dysfunction of Bretton Woods Institutions

The International Monetary Fund (IMF) highlights the increasing interest in central bank digital currencies (CBDCs) in Latin America and the Caribbean. Former Brazilian President Lula criticizes the current international economic system, while Venezuela incorporates the Russian Mir payments system.

Crédit Agricole and Santander Aim to Offer Crypto Custody Services with French Registration
Caceis, a subsidiary jointly owned by Crédit Agricole and Santander, has obtained registration as a digital asset service provider in France. This registration enables the two prominent European banks to enter the cryptocurrency market by leveraging Caceis' expertise in offering financial services to institutional investors.

US Treasury Secretary Upholds Dollar Dominance Amidst Push by Emerging Markets for De-Dollarization
US Treasury Secretary, Janet Yellen, has voiced support for the continued dominance of the US dollar, countering the de-dollarization initiatives pursued by emerging countries. Brazilian President, Luiz Inácio Lula da Silva, intends to address de-dollarization at the upcoming BRICS meeting. Yellen argues that the widespread use of the dollar in trade is justified.

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