FameEX Morning Crypto News Recap | July 5, 2024

German MP Calls for Government to Halt 'Hasty' Bitcoin Sell-Off

German MP Joana Cotar criticized the mass Bitcoin sell-off, deeming it neither "sensible" nor "productive." She argued that Bitcoin could diversify Germany's treasury assets, serve as a hedge against inflation and currency devaluation, and foster innovation in the country.

Ex-Deputy Attorney General Donald Verrilli Accuses US Regulators of "Debanking" the Cryptocurrency Industry

Donald Verrilli, former deputy attorney general, asserts that US regulators are deliberately "de-banking" the cryptocurrency industry. He highlights that, although the digital asset sector urgently requires banking services, federal regulators are engaging in coordinated efforts to limit the industry's access to these essential services.

Digital Euro Association Publishes Analysis on MiCA Regulations and Stablecoin Issuance Impact

The Digital Euro Association's report examines MiCA regulations' impact on stablecoin issuance, suggesting MiCA could set a global regulatory standard. It recommends creating a global body similar to the Basel Committee to unify stablecoin standards and to draw insights from MiCA's implementation, proposing several improvements for more effective regulation.

SEC Escalates Cryptocurrency Crackdown

BlockTower Capital's founder noted that the SEC's actions against venture capital firms signify a broader cryptocurrency crackdown. Chief Investment Officer Ari Paul mentioned on the Unchained podcast that the SEC has started multiple investigations into these firms, classifying them as unregistered securities dealers.

South Korea's Financial Regulator and Exchanges Introduce 24/7 Real-Time Monitoring System

South Korea's financial regulator and local exchanges have created a 24-hour real-time monitoring system to identify suspicious cryptocurrency activities. Launching on July 19, alongside South Korea’s first Virtual Asset User Protection Act, this system will monitor 99.9% of the country's cryptocurrency transactions, following the latest regulatory standards.

BitDeer Set to Deploy 3.4 EH/s ASIC Miners in Texas and Norway by Q4 2024

BitDeer announced the deployment of Sealminer mining machines to data centers in June, with rigorous testing underway. The 14 J/TH SEAL02 chip's tape-out is complete, and wafers are expected in Q3 2024. BitDeer plans to deploy 3.4 EH/s ASIC miners to Texas and Norway by Q4 2024, targeting 11.8 EH/s computing power by year-end.

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