FameEX Morning Crypto News Recap | June 27, 2023

Swiss National Bank Unveils Pilot Program for Wholesale CBDC with Tangible Currency
The Swiss National Bank (SNB) is set to initiate a pilot project for a wholesale central bank digital currency (wCBDC), as announced by SNB chair Thomas Jordan. The project is expected to commence in the near future, marking a significant step towards exploring the potential of digital currencies.

US House Prohibits Members from Utilizing Chatbots, Excluding ChatGPT Plus
The US House of Representatives has passed rules prohibiting members from utilizing artificial intelligence (AI) large language models, except for OpenAI's ChatGPT Plus. This ban follows the recent proposal of a bill to establish a federal AI commission, highlighting the government's evolving approach to AI regulation.

US Lawmaker Requests Information from Treasury and SEC Regarding Crypto Market Structure Bill
Rep. Maxine Waters has set a deadline of June 30 for Treasury Secretary Janet Yellen and SEC Chair Gary Gensler to provide responses regarding the "Digital Asset Market Structure" bill introduced by Republican lawmakers. Waters seeks information and engagement from key officials on this proposed legislation.

HSBC Introduces Cryptocurrency Services in Hong Kong
HSBC is set to provide cryptocurrency services in Hong Kong, focusing on cryptocurrency ETFs available on the Stock Exchange of Hong Kong. Currently, the exchange offers three crypto ETFs, namely CSOP Bitcoin Futures ETF, CSOP Ethereum Futures ETF, and Samsung Bitcoin Futures Active ETF.

United States Slides in Economic Freedom Rankings, Study Finds
Television presenter and author John Stossel examined a study by the Heritage Foundation, which revealed a significant decline in economic freedom for the United States. The research, released in February, showed that the US has dropped from the 20th freest nation in 2022 to the 25th position in 2023. Stossel shared these findings in a video released on June 20, 2023.

JPMorgan Outlines Four Global Outlook Scenarios, Cautions About "Boil the Frog" Recession amid Impending Global Downturn
JPMorgan has outlined four potential global outlook scenarios, predicting a "boil the frog" recession as the most probable outcome. The bank's economists have expressed concern, stating that the tightening of developed markets suggests an upcoming synchronized global downturn, likely to occur in 2024.

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