FameEX Morning Crypto News Recap | August 21, 2023

Analyst Suggests BRICS Bank's Potential for Introducing Digital Currency within the Economic Bloc
An analyst from Trace Finance proposes BRICS nations adopting a digital currency regulated by the BRICS Bank, highlighting the US's unprecedented crisis. Anticipation grows for a potential BRICS currency that could challenge the US dollar's supremacy, with discussions expected at the upcoming economic bloc summit.

Economists Foresee 2023 Rate Stability; Anticipate Postponed Cuts till March 2024
Economists, as per a recent Reuters poll, agree on the US Federal Reserve's rate hike limit, expecting no cuts until March 2024. With the Jackson Hole Economic Symposium approaching, focus shifts to Fed chairman Jerome Powell and his impending remarks, closely monitored by investors.

Uzbekistan Permits Banks to Issue Cryptocurrency Mastercard Cards
Uzbekistan's approval for two local banks to issue payment cards for digital coin spending marks a pilot effort. The project involves launching virtual cards connected to cryptocurrency wallets on an exchange, streamlining instant conversion to fiat money.

Impact of Dollarization: Argentine Economy at Risk of "Economic Contraction and Collapse"
The US chair of OMFIF warns against Argentina's presidential candidate's proposal to fully dollarize the economy, deeming it a risky move. Mark Sobel highlights the absence of an exit strategy, which could potentially trigger severe economic contraction and collapse.

Renowned Investor Jeremy Grantham Foresees Imminent US Recession, Questions Fed's Projection
While many investors and financial institutions believe the U.S. might avoid a recession, legendary investor Jeremy Grantham, co-founder of GMO, asserts an unavoidable recession. He challenges the Federal Reserve's optimistic forecast, deeming it highly likely to be incorrect.

US Judge Rejects Copyright for AI Art, Upholds Human Ingenuity
US District Judge Beryl Howell has upheld the U.S. Copyright Office's position that artworks created solely through artificial intelligence (AI) lack eligibility for copyright protection, as stated in a recent court decision. This ruling reflects the ongoing discussion around AI-generated content and reaffirms the notion that copyright safeguards primarily apply to human-authored creative works.

Elon Musk Applauds Cryptocurrency-Friendly Republican Presidential Contender
Elon Musk, Chairman and Chief Technology Officer of X (formerly Twitter), praises Vivek Ramaswamy, an emerging Republican presidential candidate. Responding to a podcast clip of Ramaswamy's interview, Musk highlights his distinction as the youngest-ever Republican contender and labels him a highly promising candidate.

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