FameEX Morning Crypto News Recap | June 9, 2023

Legislator Accuses SEC of Showing 'Utter Disregard for Congress' in Crypto Exchange Enforcement Actions
Lawmakers criticize the SEC for regulating the crypto industry through enforcement actions. One lawmaker accuses the SEC of showing contempt for Congress, which is currently working on a regulatory framework. Another lawmaker suggests that with a proper framework, the SEC's actions would be unnecessary.

Executive of Bitcoin Payment Platform Reveals Adoption Hurdles in the Philippines
Ethan Rose, the founder of Pouch, shared that they have successfully persuaded 400 businesses in the Philippines to accept Bitcoin. With around 250 businesses onboarded on the island and 400 nationwide, Pouch aims to boost Bitcoin adoption by providing merchants with an alternative means to attract customers.

Google Cloud's Crypto-Mining Safeguard Offers Up to $1M Coverage for Compute Expenses in Case of Failure
Google Cloud has integrated cryptomining attack prevention into its risk-management solution and Security Command Center Premium service. With the confidence to swiftly detect and halt such attacks, Google offers its Cryptomining Protection Program to cover up to $1 million of unauthorized compute expenses for Security Command Center Premium customers.

Japanese Regulator Issues Warning to OpenAI Regarding Alleged Unlawful Data Collection Methods
Japan's Personal Information Protection Commission (PIPC) has cautioned OpenAI to review its data collection practices to ensure adherence to regulations. The commission has instructed the AI company to obtain consent prior to utilizing sensitive data for its machine learning purposes.

USDC Now Available on Ethereum's Layer 2 Scaling Solution Arbitrum
Circle has introduced its native USDC on Arbitrum, Ethereum's prominent layer 2 scaling solution, becoming the ninth blockchain to support USDC. This integration enables seamless USDC swaps for Circle users across compatible chains, eliminating the expenses and delays associated with bridging transactions.

Blockchain Could Experience 'Massive' Energy Savings with Quantum Miners
A research paper suggests that quantum computing systems outperform conventional mining rigs in terms of energy efficiency. Although the potential energy savings are significant, the high costs associated with building and maintaining a quantum computing system with 512 qubits have traditionally been a barrier for many organizations.

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