FameEX Morning Crypto News Recap | June 7, 2023

Chinese yuan, euro, digital currencies challenge US dollar dominance, TD economist says
A TD economist warns that the Chinese yuan, the euro, and digital currencies pose a threat to the US dollar's global dominance. Many countries, dissatisfied with the dollar's dominance, are seeking alternative means for international trade and cross-border banking.

Kenyan Central Bank Deems CBDC Not a Short-to-Medium Term Priority
The Kenyan central bank has stated that introducing a central bank digital currency (CBDC) is not currently a top priority. Instead, the bank believes that improving innovations within the existing payment ecosystem can address the country's payment-related challenges effectively in the near future.

Cautious Crypto Traders Seek Shelter in Stablecoins Amid Market Turning Point
According to Glassnode's report, investors are shifting their capital towards safer assets such as stablecoins and Bitcoin, indicating a risk-off sentiment. The technical indicators suggest that altcoins are at a critical juncture, poised for either a positive or negative breakout.

Sequoia Capital to Split, Separating China Business into Three
Sequoia Capital, a major venture capital firm, plans to divide itself into three branches: U.S./Europe, India/SEA, and China. The decision aims to decentralize back-office operations and address global financial complexity and brand confusion. Embracing a "local-first approach," Sequoia aims to better serve specific regions and enhance its operational efficiency.

Google Cloud Introduces Free Courses for Building Personalized GPT-Style AI
Google Cloud has unveiled a collection of free online courses that aim to educate individuals about the basics of generative artificial intelligence (AI) systems. These courses also offer an introduction to the Generative AI Studio development environment, providing users with valuable knowledge in this field.

Nigeria Implements 10% Capital Gains Tax on Digital Assets, Including Cryptocurrencies
The recently signed Finance Act 2023 by former President Muhammadu Buhari brings tax reforms to modernize Nigeria's fiscal system. Notably, the Act imposes a 10% tax on profits made from selling digital assets, acknowledging the economic significance of cryptocurrencies and ensuring their contribution to the country's progress.

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