FameEX Morning Crypto News Recap | September 18, 2023

Rich Dad Poor Dad Author Robert Kiyosaki Affirms Cryptocurrency's Ascendancy and Fiat Money's Decline

Robert Kiyosaki, author of Rich Dad Poor Dad, envisions cryptocurrency as the future and dismisses fiat currencies, particularly the U.S. dollar, as outdated. He labels fiat money as counterfeit and champions gold, silver, and bitcoin as superior, with bitcoin regarded as "the people's money.

Russia Explores DeFi DAO Legalization to Boost Digital Asset Market Liquidity

The Moscow Finance Ministry is actively pursuing the legalization of decentralized financial entities, with the goal of channeling capital into Russia's regulated digital asset market. The objective is to shift liquidity from the decentralized finance (DeFi) and cryptocurrency sectors towards Russian digital financial assets (DFAs).

Stablecoin Sector Shows Strength Despite Slow Activity

In the past month, the stablecoin market has remained static, maintaining a steady value of approximately $124 billion. Global trading activity for fiat and commodity-backed tokens in the last 24 hours reached $11.55 billion, indicating a period of stability with minimal market value fluctuations for stablecoins in recent weeks.

Deutsche Bank Collaborates with Swiss Crypto Firm for Digital Asset Solutions

Germany's largest bank, Deutsche Bank, has partnered with Swiss digital asset firm Taurus to provide crypto custody and tokenization services to clients. This collaboration underscores the rising significance of the digital asset industry, anticipated to house trillions in assets, and is identified as a top priority for investors and corporations by Deutsche Bank's global head of Security Services.

American Bankers Association Voices Worries About CBDC, Citing It as Unnecessary and Risky for the US Financial System

The American Bankers Association (ABA), which represents banks holding $18 trillion in deposits and handling $11 trillion in loans, rejects the idea of a U.S. central bank digital currency (CBDC), citing it as "unnecessary" and carrying "unacceptable risks." They contend that the current digital state of the U.S. dollar makes a CBDC redundant.