FameEX Morning Crypto News Recap | June 1, 2023

Bitcoin Mining Difficulty Achieves Historic Milestone: Exceeds 50 Trillion, Soars to All-Time High of 51.23 Trillion
Bitcoin's mining difficulty soared by 3.4%, surpassing 50 trillion and reaching an all-time high of 51.23 trillion at block height 792,288. This remarkable milestone sets a new unprecedented level in the history of Bitcoin.

Bill Introduced by Lawmakers Aims to Temporarily Halt Federal Reserve's Digital Dollar Testing, Citing American Liberties Concerns
Lawmakers in the US have proposed a bill to prevent the Federal Reserve from conducting trials of a central bank digital currency (CBDC). Congressman Alex Mooney asserts that CBDCs jeopardize the freedoms of law-abiding citizens and are exploited by authoritarian governments to suppress opposition.

Central Banks Express Growing Worries and Diminished Trust in the US Dollar, Reveals Survey
The World Gold Council's survey reveals central banks' decreased optimism for the US dollar's future and a growing confidence in gold. The council's director of Central Banks and Public Policy highlighted the rise in pessimism towards the US dollar and the concurrent surge in optimism for gold among central banks.

Tether's Expansion: Stablecoin Issuer Launches Environmentally Friendly Bitcoin Mining Project in Uruguay
Tether Limited, the stablecoin issuer, will allocate 15% of its profits to Bitcoin investments. Furthermore, it aims to create sustainable Bitcoin mining operations in Uruguay, collaborating with a licensed local company. Uruguay has been identified by Tether as an ideal location for efficient Bitcoin mining.

European Union (EU) Officials Approve Legal Framework for Crypto-Asset Markets
The EU has made progress in creating a unified regulatory framework for crypto assets with the signing of the MiCA (Markets in Crypto-Assets) framework. Expected to be published in the Official Journal of the EU, the framework is set to be implemented in 2024, introducing regulations for crypto firms across EU member states.

UAE Prepares for Enforcement of AML Regulations for Digital Assets
The Central Bank of the United Arab Emirates (CBUAE) has issued regulations that will require licensed financial institutions (LFIs) to verify the identities of their customers. These regulations are set to take effect by the end of June, giving LFIs a one-month timeframe to comply with the identity verification requirements.

Former SEC Chief Warns Influencers of Potential Prosecution for Manipulating Crypto Prices
The SEC is cracking down on crypto influencers involved in promoting scams and manipulating token prices via social media. Former SEC chief John Reed Stark took to Twitter, cautioning these influencers to brace themselves for potential prosecution in such instances.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.