FameEX Morning Crypto News Recap | June 21, 2023

Mark Cuban, Billionaire, Provides Crypto Regulation Recommendations to SEC
Billionaire Mark Cuban proposes a crypto-specific registration process to enhance transparency for enterprises. His recommendations include eliminating anonymity, mandating disclosure of wallet security and maintenance, revealing wallet addresses, and specifying token trading details to improve regulation.

Deutsche Bank Seeks License for Crypto Custody Service Provision
Deutsche Bank, the largest bank in Germany, is actively pursuing regulatory approval to provide custody services for digital assets, including cryptocurrencies. This strategic move aims to enhance fee income and aligns with the bank's broader objectives in the digital asset space.

NFT Sales Surge by 11% as Buyers Increase 95% in Latest Data; ETH Leads with $85.43 Million in Sales
Recent data reveals a notable 11.60% increase in non-fungible token (NFT) sales compared to the previous week. Furthermore, the number of individual buyers participating in NFT purchases has surged by an impressive 95.20%, reaching a total of 664,096 buyers within the past seven days.

US Central Bank Sets Eyes on Two More Rate Hikes, Aims for 5.6% Target by Year-End
Following the recent decision of the U.S. central bank to hold interest rates steady, investors are now expecting two upcoming rate hikes, potentially raising the federal funds rate to 5.6% by the end of the year—a 50 basis point increase. Market predictions, as indicated by CME's Fedwatch tool, suggest a 25 basis point hike during the next Federal Open Market Committee (FOMC) meeting scheduled for July 25 and 26.

Formation of New Digital Currency Anti-Crime Task Force by Five US Enforcement Agencies
A collaborative effort by various US enforcement agencies has culminated in the establishment of the Darknet Marketplace and Digital Currency Crimes Task Force. This task force aims to combat cryptocurrency-enabled crimes including drug trafficking, money laundering, personal information theft, and child exploitation within the darknet and digital currency realms.

President Biden to Convene Meeting with Experts in San Francisco to Address Risks of AI
President Joe Biden will engage in discussions about artificial intelligence (AI) with a group of prominent Silicon Valley experts, focusing on the Biden administration's dedication to harnessing AI's potential while addressing its associated risks. The meeting, taking place during campaign fundraising stops in California, will involve at least eight experts, including renowned researchers and AI safety specialists.

Consumer Protection Groups in the EU Call for Government Investigations into AI
EU consumer protection watchdogs have called on governments to investigate the potential risks and vulnerabilities faced by consumers in relation to generative AI. Specifically, they have highlighted the need for regulators to scrutinize the artificial intelligence models used in widely used chatbot applications.

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