FameEX Morning Crypto News Recap | June 18, 2024

Fed Chairman Powell to Present Semi-Annual Monetary Policy Testimony on July 9

Senator Brown's office announced that Federal Reserve Chairman Powell will deliver his semi-annual monetary policy testimony to the Senate Banking Committee on July 9. This follows June non-farm data on July 5 and precedes June CPI data on July 11. The event is not yet listed on the Fed's official website.

South Korea's Financial Authorities to Assess Listings of Nearly 600 Cryptocurrencies

South Korea’s financial authorities will review approximately 600 cryptocurrencies on domestic exchanges to ensure compliance with the Virtual Asset User Protection Act, effective July 19. The government has created a best practices plan, outlining strict new requirements for cryptocurrency listings to support virtual asset trading.

Financial Stability Board to Investigate Stablecoin Challenges in Emerging and Developing Economies

The Financial Stability Board (FSB) will study the challenges stablecoins pose to emerging and developing economies. As a key global crypto policy maker, the FSB, along with the International Monetary Fund, warned against a blanket ban on cryptocurrencies in a joint policy paper last year to mitigate industry risks.

U.S. Supreme Court to Hear Nvidia Case on Cryptocurrency Mining Revenue

On June 17, the U.S. Supreme Court agreed to hear a case involving Nvidia's cryptocurrency mining revenue, potentially making it more difficult for shareholders to file securities fraud lawsuits.

SEC Crypto Asset and Cyber Chief Resigns

According to The Block Pro Headlines, LinkedIn information reveals that David Draper, head of the U.S. Securities and Exchange Commission's crypto assets and cyber department, has resigned after nine years in the position.

Trump Vows to Enhance Cryptocurrency Activity in Florida in Second Term

Donald Trump announced that, if re-elected, he will ensure a substantial boost in cryptocurrency activity in Florida.

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