FameEX Morning Crypto News Recap | June 9, 2023

Lawmaker Alleges SEC's Crypto Exchange Enforcement Actions Display 'Flagrant Disregard' for Congress
Lawmakers condemn the SEC's enforcement-based regulation of the crypto industry, with one legislator accusing the agency of disrespecting Congress as it develops a regulatory framework. Another lawmaker argues that a comprehensive framework would render the SEC's actions unnecessary.

Challenges in Bitcoin Payment Adoption Explored by Executive in the Philippines
Ethan Rose, Pouch's founder, announced that they have convinced 400 businesses in the Philippines to accept Bitcoin. Pouch has onboarded approximately 250 businesses on the island and aims to promote Bitcoin adoption by offering merchants an alternative method to attract customers.

Google Cloud's Crypto-Mining Protection Provides $1M Coverage for Compute Expenses in Event of Failure
Google Cloud has incorporated cryptomining attack prevention into its risk-management solution and Security Command Center Premium service. They assure quick detection and prevention of such attacks and provide the Cryptomining Protection Program, offering up to $1 million coverage for unauthorized compute expenses to Security Command Center Premium customers.

OpenAI Receives Warning from Japanese Regulator Regarding Alleged Illicit Data Collection Methods
OpenAI has been warned by Japan's Personal Information Protection Commission (PIPC) to assess its data collection methods for compliance with regulations. The commission has specifically mandated that OpenAI must obtain consent before using sensitive data in its machine learning endeavors.

USDC Launches on Ethereum's Layer 2 Scaling Solution Arbitrum
Circle has launched its native USDC on Arbitrum, a prominent layer 2 scaling solution for Ethereum, making it the ninth blockchain to support USDC. This integration allows Circle users to easily swap USDC across compatible chains, eliminating the costs and delays associated with bridging transactions.

Quantum Miners Offer the Potential for 'Massive' Energy Savings in Blockchain
According to a research paper, quantum computing systems demonstrate superior energy efficiency compared to standard mining rigs. While the energy savings are substantial, the prohibitive costs of constructing and managing a 512-qubit quantum computing system have traditionally hindered adoption by most organizations.

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