FameEX Morning Crypto News Recap | June 1, 2023

Bitcoin Mining Difficulty Reaches New Milestone: Surpasses 50 Trillion, Hits Record High at 51.23 Trillion
Bitcoin achieved a significant milestone as its mining difficulty rose by 3.4%, surpassing 50 trillion for the first time and reaching a record high of 51.23 trillion at block height 792,288. This marks a new unprecedented level in Bitcoin's history.

Legislators Propose Bill to Pause Federal Reserve's Digital Dollar Testing, Expressing Concerns for American Liberties
US lawmakers have presented a bill to block the Federal Reserve from testing a central bank digital currency (CBDC). Congressman Alex Mooney argues that CBDCs pose a threat to the liberties of law-abiding Americans and are exploited by authoritarian regimes to suppress dissent.

Survey Indicates Central Banks Display Heightened Concerns and Reduced Confidence in the US Dollar
According to the World Gold Council's recent survey on gold reserves, central banks have become less optimistic about the future of the US dollar, while their confidence in gold has increased. The council's director of Central Banks and Public Policy noted a rise in pessimism regarding the US dollar and a corresponding surge in optimism for gold among central banks.

Tether Expands Operations: Stablecoin Issuer Unveils Sustainable Bitcoin Mining Project in Uruguay
Tether Limited, the stablecoin issuer, plans to invest 15% of its profits into Bitcoin. In addition, it has announced a new initiative to establish sustainable Bitcoin mining operations in Uruguay, partnering with a licensed local company for this endeavor. Tether sees Uruguay as an optimal location for Bitcoin mining production.

EU Officials Enact Legal Framework for Markets in Crypto-Assets
The European Union (EU) has taken a significant step towards establishing a unified regulatory framework for crypto assets with the signing of the MiCA (Markets in Crypto-Assets) framework. The framework, set to be published in the Official Journal of the European Union, is anticipated to commence implementation in 2024, bringing regulations for crypto firms across EU member states into effect.

Implementation of AML Regulations for Digital Assets Set for UAE
The Central Bank of the United Arab Emirates (CBUAE) has introduced new regulations mandating licensed financial institutions (LFIs) to verify the identities of all customers. These rules are expected to be implemented by the end of June, requiring LFIs to comply with identity verification requirements within a month.

Former SEC Chief Cautions Influencers on Potential Prosecution for Manipulating Crypto Prices
The US Securities and Exchange Commission (SEC) is actively targeting crypto influencers who promote fraudulent projects and manipulate token prices through social media. Former SEC chief John Reed Stark issued a warning on Twitter, advising crypto influencers to prepare for potential prosecution in such cases.

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