FameEX Afternoon Crypto News Recap | March 10, 2023

Founders of Airbit Club Crypto Ponzi Scheme Confess to Involvement in Multi-Million Dollar Fraud
https://www.fameex.com/en-AU/news/crypto-trending-news-2023031003
The US Department of Justice has disclosed that six people linked to Airbit Club, a cryptocurrency Ponzi scheme masquerading as a mining and trading firm, have admitted their guilt. The scam is suspected to have scammed millions of dollars from investors.

New Bill in Russia Demands Crypto Miners Report Earnings or Face Imprisonment
To tackle tax evasion and money laundering, Russia has passed a new law mandating cryptocurrency miners to report their earnings or face the consequences of imprisonment and forced labor. However, the country has also subsidized a mining facility in Siberia as part of its plan to encourage and develop cryptocurrency mining.

New Crypto Team Formed by US Federal Reserve to Address Concerns over Unregulated Stablecoins
According to the Vice Chair for Supervision of the US Federal Reserve, the central bank is not seeking to impede financial sector innovation. Rather, the main focus is to introduce regulations that safeguard both households and the broader financial system.

Iran Makes Progress in CBDC Development, Moves Beyond Pre-Pilot Phase
After completing the pre-pilot phase, Iran's central bank has reported significant progress in the development of its CBDC. Moving forward, the bank plans to conduct advanced studies to further refine the digital currency's features and capabilities.

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