FameEX Morning Crypto News Recap | October 8, 2023

BIS Teams Up with Bank of Korea for Wholesale CBDC Pilot Program

The Bank of Korea and the Bank for International Settlements (BIS) have launched a pilot program to evaluate a Korean wholesale central bank digital currency (CBDC). This CBDC is designed to simplify interbank transactions and allow banks to issue CBDC-backed digital currencies with flexible fractional backing, enhancing efficiency and adaptability in the financial sector.

Tesla's CEO Elon Musk Predicts an 'Unquestionable Transformation' of the SEC

Billionaire CEO of Tesla and SpaceX, Elon Musk, is advocating for a comprehensive overhaul of regulatory agencies such as the SEC. He stressed the importance of creating a commission responsible for penalizing those who misuse their regulatory authority for personal or political gain. Musk's call underscores the pressing need for increased accountability and transparency within regulatory bodies to ensure their effectiveness and fairness.

Elon Musk Broadens the 'Everything App' Initiative Through Video Game Streaming Trials

X, previously Twitter, is amplifying its "everything app" vision through Elon Musk's video game streaming trial. In a 50-minute live session on October 6, Musk played the well-liked online action RPG Diablo 4, signifying X's aspiration to expand its platform from social media to encompass wider entertainment and content sharing domains, possibly revolutionizing digital content engagement.

Elon Musk's X Platform Sparks Controversy with Suspension of Pro-XRP Account

Elon Musk, X's executive chair and chief technical officer, faces criticism for suspending an XRP-related account. Crypto Eri, a well-known figure in the cryptocurrency community, contacted Musk on X, seeking clarification about the account's suspension and raising questions about its validity. This incident has ignited discussions regarding platform moderation and account actions within the X community.

House GOP Pushes for Enhanced Export Regulations on Advanced Semiconductor Chips

In response to Huawei Technologies' use of chips from China's Semiconductor Manufacturing International Corporation in their Mate 60 Pro smartphone, two senior House Republicans are urging the Biden administration to enhance export control enforcement for advanced semiconductors destined for China. This move underscores heightened concerns regarding national security and the need for stricter oversight of technology exports to China.