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FameEX Morning Crypto News Recap | September 21, 2023
2023-09-21 12:20:10
United States and Developed Nations Propel Global Debt to Historic $307 Trillion High
Global debt has reached an unprecedented peak in the second quarter, as reported by the Institute of International Finance (IIF). This surge marks a reversal of a seven-quarter trend of declining global debt-to-GDP ratios and is anticipated to reach 337% by year-end. The data underscores growing concerns about the sustainability of global debt levels and their impact on the world economy.
PayPal Introduces PYUSD: A New Stablecoin on Venmo
PayPal has added PYUSD, a stablecoin, to Venmo, broadening its cryptocurrency lineup. Initially, it's available to specific Venmo users, with a wider release scheduled in the near future. This move demonstrates PayPal's dedication to the expanding digital currency market and its goal of offering greater cryptocurrency accessibility to its users.
SEC's Crypto Enforcement Chief Signals Heightened Enforcement Efforts: 'We're Committed to Pursuing Charges David Hirsch, who leads the SEC's Crypto Assets and Cyber Unit, has signaled an increase in enforcement efforts directed at companies failing to meet SEC registration obligations. He articulated this enforcement emphasis while speaking at an SEC forum in Chicago, reiterating the agency's strong dedication to overseeing the cryptocurrency industry and exchanges. International Financial Alliance Flags Issues in Digital Euro Legislative Framework The International Financial Institute (IIF) has identified shortcomings in the digital euro framework, specifically the absence of governance and conflict of interest provisions. This raises concerns over the European Central Bank (ECB) potentially juggling conflicting roles as regulator and operator without independent oversight. Apple and Goldman Sachs Cancel Trading App Project Apple and Goldman Sachs have canceled their joint venture to create a futures trading app, CNBC disclosed. According to insiders, the project's infrastructure is on the verge of completion, poised for launch should Apple greenlight the initial plan. However, the inclusion of cryptocurrency futures trading in the app's features remains uncertain, leaving the specifics of its offerings in question. The Author's Guild Files Class-Action Lawsuit Against OpenAI The Author's Guild in the US has launched a class-action lawsuit against Microsoft-backed OpenAI, alleging the improper use of copyrighted material in training its AI models. This legal action underscores concerns surrounding copyright infringement in AI development and its potential implications for content creators and intellectual property rights. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
