FameEX Morning Crypto News Recap | June 29, 2023

Google Trends Data Reveals Blackrock's Impact on Skyrocketing Bitcoin Interest
In the last month, Google Trends data reveals a substantial increase in interest in the term "bitcoin." On June 21, 2023, it reached a perfect score of 100. The surge in curiosity is attributed to various factors, including the growing attention towards Blackrock's exchange-traded fund (ETF) and other bitcoin-related news.

Swiss Central Bank Chairman Thomas Jordan Announces Upcoming Launch of Wholesale CBDC
The Swiss National Bank (SNB) intends to pilot a wholesale central bank digital currency (CBDC) through SIX Digital Exchange, a subsidiary of SIX, which manages infrastructure for financial centers in Switzerland and Spain. SNB Chairman Thomas Jordan stated that while retail CBDCs are not ruled out, the bank is currently adopting a cautious approach.

Dubai Regulator Reveals Fee Schedule for Virtual Asset-Related Activities
The Dubai Virtual Asset Regulatory Authority (VARA) has released a fee schedule that encompasses services such as issuing no-objection certificates, modifying or withdrawing license applications, and submitting whitepapers for review. VARA also specified a license withdrawal fee of $3,670 for licensed entities choosing to exit Dubai entirely.

Shanghai Clearing House Implements Digital Yuan Settlement Support
The Shanghai Clearing House, Asia's premier counterparty clearing institution, has unveiled its backing for digital yuan payments. This development enables companies to conduct bulk commodity transactions and promotes the Chinese central bank's digital currency (CBDC), the digital yuan, on the global stage.

Italy's Central Bank Urges Establishment of Framework to Safeguard Against Stablecoin Runs
The Bank of Italy has urged for increased regulatory oversight of stablecoins due to their lack of stability. Italy's top banking authority emphasizes the need for a strong and risk-based regulatory framework to avoid potential crises, such as a run on stablecoins.

RBI Highlights Stablecoin Risks for Developing Economies, Urges Global Regulatory Framework
The Reserve Bank of India (RBI) has identified six ways in which stablecoins can pose risks to emerging markets, further strengthening its argument against cryptocurrencies. The RBI has shown greater support for central bank digital currency (CBDC) initiatives, having launched pilot projects for digital rupee and collaborated with the Central Bank of the United Arab Emirates to explore CBDC bridges for trade and remittances.

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