FameEX Afternoon Crypto News Recap | April 7, 2023

India's IT Minister Supports RBI's Cautious Approach Towards Digital Currencies
https://www.fameex.com/en-AU/news/crypto-trending-news-2023040703
According to the Economic Times, India's Minister of Information Technology, Rajeev Chandrasekhar, has stated that the country will persist with its cautious approach towards digital currencies. The Reserve Bank of India (RBI) has maintained a careful stance towards regulating digital currencies, and the government has been moving slowly and steadily in this regard.

BIS Backs Central Bankers' Efforts to Track Digital Currency Data with New Project
The Bank for International Settlements (BIS) has unveiled Project Atlas, a plan to create open-source data projects to track the macroeconomic implications of digital currencies and decentralized finance (DeFi). In partnership with Deutsche Bundesbank and De Nederlandsche Bank (DNB), the project aims to provide more information on digital currencies. The current on-chain data only deals with price action, and Project Atlas aims to offer more data on the large-scale impact of DeFi on financial stability.

Russia Claims Second Spot in Global Cryptocurrency Mining Rankings for the First Time
BitRiver data shows that the United States remains the top cryptocurrency mining country with a capacity of 3-4 GW, followed by Russia with a capacity of 1 GW. Other top mining countries include the Persian Gulf, Canada, Malaysia, Argentina, Iceland, Paraguay, Kazakhstan, and Ireland, with varying mining capacities ranging from 700 MW to 90 MW.

Bitcoin Mining Difficulty Achieves Fourth Consecutive Record High
On April 6, 2023, the difficulty of mining Bitcoin reached an all-time high with a 2.23% increase at block height 784,224. This marks the fourth consecutive increase in difficulty since February 24, 2023. Currently, the protocol's difficulty stands at 47.89 trillion, just 2.11 trillion away from the 50 trillion range.

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