FameEX Morning Crypto News Recap | August 18, 2023

Judge Approves SEC's Motion for Interlocutory Appeal in XRP-Related Ripple Case
District Judge Analisa Torres has approved the U.S. SEC's appeal request in the XRP-related Ripple case, allowing for an interlocutory appeal. This decision follows Ripple Labs' objection to the SEC's request and comes swiftly within a day of it.

Commencing September, UK Cryptocurrency Enterprises Required to Adhere to FATF Travel Rule
Starting September 1, UK crypto firms must adhere to the Financial Action Task Force's (FATF) Travel Rule, involving Anti-Money Laundering and Counter-Terrorist Financing regulations. The Financial Conduct Authority (FCA) confirmed this move, aligning the UK with FATF standards established in 2019.

Colombia's Central Bank Proposes Restrictions on CBDC Holdings and Expenditure
Colombia's central bank suggests implementing holding and spending caps for their CBDC to counter potential threats. The proposed design aims to enhance security by protecting users from cyberattacks on their CBDC balances and transactions.

PayPal's Stablecoin Paves the Way for Cryptocurrency Adoption in Traditional Finance
PayPal's stablecoin launch has spurred discussions on the increasing convergence of traditional finance and the crypto sphere. The company's earlier move to enable U.S. and UK users to transact with cryptocurrencies on its platform set the stage for this development.

Exploring Hong Kong's Crypto Position: Industry Leaders Discuss Web3 Impact in the Area
Hong Kong is striving to emerge as a prominent cryptocurrency center by fostering Web3 growth, while its securities regulatory body is proactively overseeing the crypto sector, granting licenses for retail crypto trading.

Google Enhances Search Engine with AI-Powered Upgrades
Google has unveiled search engine upgrades on August 15, integrating advanced generative AI capabilities to improve online information exploration and understanding. This technology generates fresh content by leveraging existing sources, demonstrated by tools like ChatGPT, which can produce text-based outputs like poems and summaries using past information.

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