FameEX Morning Crypto News Recap | September 14, 2023

Economist Peter Schiff Sounds Alarm Over 'Imminent Crisis' and Growing Exodus from the US Dollar"

Economist Peter Schiff has issued a stark warning about an impending rush to abandon the U.S. dollar, forecasting a looming massive crisis that could spiral the economy into a severe downturn, resulting in widespread economic distress for the population.

SEC Chair Expresses Concerns Over Rampant Fraud and Misconduct in the Crypto Industry, Calling it a 'Daunting Challenge

SEC Chair Gary Gensler testified to the Senate Banking Committee, emphasizing the prevalence of fraud, abuse, and misconduct in the crypto industry. He also mentioned the ongoing review of applications for spot bitcoin exchange-traded funds (ETFs) by the securities regulator.

SWIFT Expands CBDC Interoperability Beta Test with Enrollment of Three Central Banks and Sandbox Expansion

SWIFT has welcomed three central banks into the beta phase of its CBDC interoperability project. The Hong Kong Monetary Authority, the Central Bank of Kazakhstan, and an undisclosed central bank have integrated their infrastructure with SWIFT's CBDC connector solution for direct testing. Additionally, SWIFT has initiated a new phase of sandbox testing.

Court Greenlights Sale of FTX Digital Assets

The Delaware Bankruptcy Court, during a September 13th hearing, gave the green light for the sale of FTX digital assets. This approval, granted by Judge John Dorsey, followed significant alterations made to the draft order allowing the sale on the prior day. The decision paves the way for the sale of FTX's digital assets in compliance with the court's rulings and proceedings.

Alibaba Unveils Publicly Accessible AI Model, Similar to ChatGPT, as China Eases Restrictions

Alibaba is making its artificial intelligence system, Tongyi Qianwen, available to the public and enterprises in China from September 13th. This move follows recent developments where Chinese authorities began accepting applications for public-facing AI systems, allowing Alibaba to introduce its proprietary large language model to a broader audience.

Google to Permit NFT Game Advertisements as Interest in the Metaverse Grows in Asia: Insights from the Nifty Newsletter

Google is revising its crypto ad policy to permit NFT game advertisements without gambling or related services. Starting September 15th, this update allows the promotion of NFT-based games on the platform. Google's decision aims to accommodate the growing interest in NFTs while maintaining guidelines against promoting gambling within these ads.

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