FameEX Morning Crypto News Recap | October 24, 2023

Elon Musk, CEO of Tesla, Calls for 'Extensive Deregulation' After Predicting SEC Reform

Billionaire Elon Musk, CEO of Tesla and SpaceX, is calling for "comprehensive deregulation" in response to perceived constraints placed by the U.S. Securities and Exchange Commission (SEC) on societal advancement. This follows Musk's prediction of a "comprehensive overhaul" of the SEC, which he believes is certain to happen.

People’s Bank of China Governor Commits to Curbing Cryptocurrency Speculation

China's new central bank governor, Pan Gongsheng, has vowed to crack down on speculation related to cryptocurrency transactions in the country. This commitment is part of a broader effort outlined in a report to ensure stability in China's financial market and address potential risks posed by cryptocurrencies.

Emerging Tool Seeks to Punish AI for Unauthorized Art Scraping with Data Poisoning

The University of Chicago researchers have unveiled 'Nightshade,' a tool empowering artists to 'poison' their digital art to deter unauthorized AI training on their creations. By modifying images to disrupt datasets employed in AI training, artists can maintain control over their work, preventing its misuse. This innovative tool helps protect artists' intellectual property from unpermitted exploitation.

IRS Proposes Comprehensive Data Collection for Cryptocurrency Users

The IRS is proposing new regulations that would require cryptocurrency service providers to gather comprehensive user data, including names and Social Security numbers. This initiative aims to bolster tax compliance and strengthen the IRS's oversight of cryptocurrency transactions, representing a significant move towards regulating the cryptocurrency sector within the United States.

US Congress Delays Crypto Legislation Due to House Speaker Vacancy

Since the removal of House Speaker Kevin McCarthy on October 3, no legislation, including crypto-related bills, has made significant progress in the United States Congress. This unusual situation represents the first time in U.S. history that the legislative body has lacked elected leadership, with no clear plan to fill the vacant position.

China's Digital Yuan CBDC Makes History in Cross-Border Oil Deal

On October 19, PetroChina International achieved a historic milestone by procuring 1 million barrels of crude oil through the use of the digital yuan (e-CNY) for the very first time. This move was prompted by a call from the Shanghai Municipal Party Committee and Municipal Government to incorporate the Chinese central bank digital currency (CBDC) into global trade, marking a substantial leap forward for the digital yuan, as highlighted by China Daily.

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