FameEX Morning Crypto News Recap | July 31, 2023

Crypto Mining Farm Worth $20 Million to Be Established at Kyrgyzstan's Hydropower Plant
Kyrgyzstan aims to build a cryptocurrency mining facility at a hydroelectric station, utilizing its surplus generating capacity to enhance power generation and minimize electricity losses, exceeding the capacity of the transmission network.

SEC Chair Warns of Crypto's High Speculative Nature and Fraud Vulnerability
Gary Gensler, SEC Chair, cautions that crypto is a highly speculative asset class, citing vulnerability to fraud from bad actors. He raises concerns about commingling funds and trading against customers on crypto platforms.

Opposition from India and Brazil to China's BRICS Expansion Agenda
India and Brazil, both BRICS members, impede China's swift expansion bid in the bloc, citing diverse reasons for opposing Beijing's plan to boost its geopolitical influence rapidly. Sources suggest they unite in their goal to decelerate the enlargement process.

Apple's Blockchain and NFT Policies Under Scrutiny by US Representatives Bilirakis and Schakowsky
US Representatives Bilirakis and Schakowsky, part of the House Innovation, Data, and Commerce Subcommittee, seek details from Apple regarding its iOS App Store policies on blockchain, NFTs, and distributed ledger technologies. They fear that these policies might impede innovation and hamper America's technological leadership in these domains.

Maine Senator Calls for Clemency of Ross Ulbricht During President's Auburn Visit
On July 28, 2023, during his trip to Auburn, Maine, President Joe Biden received a note from Republican Senator Eric Brakey. The message urged Biden to consider granting clemency to Ross Ulbricht, the creator of Silk Road.

Vladimir Putin Criticizes the Political Weaponization of the Dollar
During a meeting with New Development Bank's president Dilma Rousseff, Russian President Vladimir Putin voiced firm disapproval of using the dollar as a political weapon. He emphasized how this, along with recent global financial changes, hindered the institution's support to third-world countries facing challenging conditions.

SEC Accused by Pro-XRP Lawyer of Prioritizing Corporate Capitalism Over Investor Interests
John Deaton, an XRP advocate lawyer, claims that the SEC's actions against the crypto industry serve to shield corporate capitalism, rather than prioritize the protection of investors' interests.

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