FameEX Morning Crypto News Recap | August 23, 2023

Oman Unveils $350 Million Crypto Mining Center
Oman recently opened its second cryptocurrency mining facility in under 10 months, with an investment of approximately $350 million. Utilizing advanced hardware from Bitmain Technologies, the center currently houses 2,000 machines powered by 11 megawatts and aims to expand to 15,000 machines by October 2023.

US Lawmaker Expresses Strong Disapproval of SEC's 'Unwise' Rulemaking — Highlights Worries Over 'Long-Lasting Economic Impact'
A US lawmaker censured the SEC and Chair Gary Gensler, alleging rushed rulemaking devoid of adequate economic analysis and public engagement. The legislator cautioned that such an approach could precipitate interconnected economic harm spanning across multiple sectors.

New CBDC Name 'Drex' Revealed by Brazil's Central Bank, Targeting 2024 Launch
Brazil's Central Bank revealed 'drex,' the renamed CBDC formerly known as digital real, with rebranding attributed. The bank highlighted its potential to transform real estate and vehicle transactions through digital contracts, and its launch is projected for the upcoming year.

Suggestions Hint at China's Potential to Unite Expanded BRICS Against G7 Countries
China is allegedly expanding BRICS to establish a geopolitical counterweight to the G7, as per a Chinese source. At an upcoming Johannesburg summit, the group will discuss the potential inclusion of Saudi Arabia and the UAE as new members.

SEC Alleges Cryptocurrency Investment Advisor with Misleading 'Hypothetical Performance Projections'
Titan Global Capital Management faces SEC charges for promoting misleading "hypothetical performance projections" tied to their crypto investment product. The firm is also alleged to have violated marketing rules by failing to follow required procedures in presenting hypothetical performance metrics.

South Korean Municipality to Seize Crypto Holdings from Numerous Tax Defaulters
Cheongju city, South Korea, aims to seize cryptocurrency assets from individuals owing over $750 in crypto tax debts. Targeting local tax defaulters in North Chungcheong province's capital, Cheongju, the initiative is gearing up for the confiscation of digital assets.

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