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FameEX Morning Crypto News Recap | October 16, 2023

2023-10-16 12:06:50

Nigerian Central Bank Removes Forex Restrictions on 43 Items, Allowing Market Forces to Shape Exchange Rates

On October 12, the Nigerian central bank announced the removal of foreign exchange restrictions on 43 imported items. These restrictions, first implemented in 2015, were believed to have played a role in the devaluation of the naira in the parallel foreign exchange market.

JPMorgan CEO Sounds Alarm on 'Most Perilous Era in Decades

JPMorgan Chase CEO Jamie Dimon has issued a warning, describing the current global situation as "the most dangerous time the world has seen in decades." He cited the Ukraine conflict and recent attacks on Israel as factors with potential far-reaching effects on energy and food markets, global trade, and geopolitical relationships.

UAE Government Releases White Paper Addressing Metaverse Regulation

The UAE government's white paper on the metaverse emphasizes its potential while stressing global readiness in key areas. It recognizes both the opportunities and challenges presented by the metaverse, advocating for international collaboration and preparedness to tackle them effectively.

Australian Treasury Proposes Regulation for Crypto Exchanges, Excludes Tokens

The Australian Treasury has introduced a "Regulating digital asset platforms" consultation paper on October 16, outlining a new regulatory framework. This framework seeks to combat consumer harms while simultaneously fostering innovation within the digital asset sector.

Nigerian Government Grants $290K to Support AI Initiatives

Nigeria's Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, has unveiled a program on October 13 to grant 5 million naira (around $6,444) to assist 45 startups and researchers in the artificial intelligence (AI) sector. This initiative seeks to strengthen AI innovation and advancement in the country.

California Governor Newsom Approves Crypto Regulation Bill for 2025

California Governor Gavin Newsom has endorsed the Digital Financial Assets Law, introducing stricter regulations for crypto businesses effective July 2025. The law mandates individuals and firms involved in digital asset operations to secure a Department of Financial Protection and Innovation (DFPI) license, enhancing oversight in the crypto sector. The announcement was made on October 13.

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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