FameEX Morning Crypto News Recap | June 26, 2023

CEO of Blockchain Aus Advocates Against 'Regulation by Enforcement,' Cautions Against Blindly Emulating US Approach
Blockchain Australia's CEO, Simon Callaghan, urges the Australian government to seek guidance for cryptocurrency regulation from the United Kingdom, Hong Kong, and Singapore instead of the United States. He emphasizes the need to steer clear of the US approach in order to make informed decisions.

FATF Report Reveals Lackluster Compliance with Crypto Travel Rule Implementation
The FATF calls for urgent implementation of the Travel Rule by member states to combat money laundering and terrorism financing involving cryptocurrencies. Emphasizing the importance of immediate action, the United Nations body aims to close regulatory gaps and curb illicit activities in the crypto space.

Japan Grants Tax Exemption on Paper Profits for Token Issuers
Token issuers in Japan are now exempt from corporate taxes on unrealized cryptocurrency gains, as per the new tax rules introduced by the National Tax Agency. This revision, published on June 20, alleviates the tax burden on token issuers, relieving them from the obligation to pay taxes on paper profits in the crypto market.

Amazon Announces $100M Investment for Establishment of Generative AI Center
Amazon's cloud unit, AWS, is allocating $100 million to create an AI center, aiming to maintain competitiveness in cloud infrastructure services. This strategic response by Amazon Web Services addresses the increasing competition from Microsoft and Google in the realm of generative artificial intelligence.

Rising CBDC Interest in Latin America, Lula Criticizes Dysfunction of Bretton Woods Institutions, Says IMF
Central bank digital currencies (CBDCs) in Latin America and the Caribbean attract growing interest, as noted by the IMF. Lula, former President of Brazil, voices criticism towards the current international economic system. Meanwhile, Venezuela integrates the Russian Mir payments system into its financial infrastructure.

French Registered Banking Giants, Crédit Agricole and Santander, Plan to Provide Crypto Custody Services
Crédit Agricole and Santander's subsidiary, Caceis, has successfully registered as a digital asset service provider in France. This registration empowers the two major European banks to enter the cryptocurrency market and leverage Caceis' expertise in providing financial services to institutional investors.

Defense of Dollar Dominance: US Treasury Secretary Counters Emerging Markets' De-Dollarization Efforts
US Treasury Secretary Janet Yellen supports the US dollar's ongoing dominance, opposing de-dollarization efforts by emerging nations. Brazilian President Luiz Inácio Lula da Silva plans to discuss de-dollarization during the upcoming BRICS meeting. Yellen asserts that the dollar's extensive use in trade is warranted.

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