FameEX Morning Crypto News Recap | August 21, 2023

Exploring the Prospect: Analyst Envisions BRICS Bank Introducing Digital Currency to the Economic Bloc
Suggesting a move by BRICS nations, a Trace Finance analyst advocates a digital currency under BRICS Bank regulation, spotlighting the unparalleled US crisis. The prospect of a BRICS currency challenging the dominance of the US dollar stirs anticipation, set for discussion during the imminent economic bloc summit.

Economic Analysts Predict Stable Rates Throughout 2023, Envision Delayed Cuts Until March 2024
Based on a recent Reuters poll, economists reach a consensus: the US Federal Reserve won't increase rates further, and cuts aren't foreseen until March 2024. Attention now turns to the upcoming Jackson Hole Economic Symposium, where investors await insights from Fed chairman Jerome Powell.

Authorization Granted in Uzbekistan for Banks to Offer Cryptocurrency Mastercard Cards
Uzbekistan's green light for two local banks to issue digital coin payment cards is a pilot endeavor. The initiative encompasses introducing virtual cards tied to cryptocurrency wallets on an exchange, simplifying immediate conversion into fiat currency.

Dollarization's Impact: Argentine Economy Faces Threat of "Economic Contraction and Collapse
OMFIF's US Chair advises against Argentina's presidential contender's full dollarization proposition, citing its perilous nature. Mark Sobel accentuates the need for an exit strategy, as the absence thereof could potentially initiate substantial economic downturn and eventual collapse.

Jeremy Grantham, Legendary Investor, Anticipates Imminent US Recession, Raises Doubts About Fed's Forecast
Despite widespread optimism among investors and financial institutions about the U.S. avoiding a recession, legendary investor Jeremy Grantham, co-founder of GMO, asserts an inevitable recession. He questions the Federal Reserve's upbeat forecast, citing a high likelihood of its inaccuracy.

US Court Dismisses AI Art Copyright Claim, Affirms Human Ingenuity
US District Judge Beryl Howell's recent court ruling supports the U.S. Copyright Office's view that artworks exclusively produced by artificial intelligence (AI) aren't eligible for copyright protection. This reinforces the ongoing debate about AI-generated content and underscores that copyright protection is primarily intended for human-authored creative endeavors.

Elon Musk Commends Pro-Crypto Republican Presidential Candidate
Elon Musk, the chairman and chief technology officer of X (formerly Twitter), commends Vivek Ramaswamy, an up-and-coming Republican presidential candidate. Musk's response to a podcast snippet of Ramaswamy's interview emphasizes his status as the youngest-ever Republican contender and describes him as a highly promising candidate.

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