FameEX Morning Crypto News Recap | June 18, 2024

Fed Chairman Powell to Deliver Semi-Annual Monetary Policy Testimony on July 9

The office of Senator Brown, chairman of the U.S. Senate Banking Committee, announced that Federal Reserve Chairman Powell will deliver his semi-annual monetary policy testimony to the Senate Banking Committee on July 9. This follows the release of June non-farm data on July 5 and precedes the release of June CPI data on July 11. This event is not yet listed on the Fed's official website.

South Korea’s Financial Authorities to Review Listings of Approximately 600 Cryptocurrencies

South Korea’s financial authorities will re-evaluate around 600 cryptocurrencies listed on domestic exchanges to ensure compliance with the new Virtual Asset User Protection Act, effective from July 19. The government has established a best practices plan, detailing strict new requirements for cryptocurrency listings to support virtual asset trading.

Financial Stability Board to Examine Stablecoin Challenges for Emerging and Developing Economies

The Financial Stability Board (FSB), tasked with monitoring systemic risks in the global financial system, will further study the challenges stablecoins pose to emerging and developing economies. The FSB, a key global crypto policy maker, alongside the International Monetary Fund, warned against a blanket ban on cryptocurrencies in a joint policy paper last year to mitigate industry risks.

U.S. Supreme Court to Review Nvidia Case on Cryptocurrency Mining Revenue

On June 17, the U.S. Supreme Court agreed to hear a case concerning Nvidia's cryptocurrency mining revenue. This case could potentially complicate the process for shareholders to file securities fraud lawsuits.

SEC Crypto Asset and Cyber Chief Departs

According to The Block Pro Headlines, LinkedIn information reveals that David Draper, head of the U.S. Securities and Exchange Commission's crypto assets and cyber department, resigned after nine years in office.

Trump Pledges to Boost Cryptocurrency Activity in Florida During Second Term

Donald Trump announced that if he wins a second term, he will ensure a significant increase in cryptocurrency activity in Florida.

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