FameEX Morning Crypto News Recap | June 7, 2023

TD Economist: Chinese Yuan, Euro, and Digital Currencies Pose Challenges to US Dollar Dominance
A TD economist cautions that the Chinese yuan, euro, and digital currencies are challenging the global supremacy of the US dollar. As numerous nations express discontent with the dollar's dominance, they are actively exploring alternative avenues for international trade and cross-border banking.

Kenyan Central Bank: CBDC Not a Priority in the Near Future
The central bank of Kenya has clarified that the implementation of a central bank digital currency (CBDC) is not a high-priority objective at present. The bank emphasizes the importance of enhancing existing payment systems and fostering innovations to effectively tackle payment-related issues in the near future.

Amid Market Turning Point, Crypto Traders Prudently Embrace Stablecoins for Safety
Glassnode's report reveals that investors are gravitating towards safer options like stablecoins and Bitcoin, reflecting a cautious approach in light of market risks. Technical indicators indicate that altcoins are currently at a crucial crossroads, with the potential for either a positive or negative breakout.

Sequoia Capital Announces Plan to Divide, Creating Three Separate Entities for China Business
Sequoia Capital, one of the leading venture capital firms, is set to undergo a division into three branches: U.S./Europe, India/SEA, and China. The objective is to decentralize back-office functions, tackle global financial complexities, and resolve brand confusion. By adopting a "local-first approach," Sequoia aims to improve regional service and operational effectiveness.

Google Cloud Offers Free Courses to Enable Users in Creating Personalized GPT-Style AI
Google Cloud has introduced a series of free online courses to educate individuals on the fundamentals of generative artificial intelligence (AI) systems. These courses also provide an introduction to the Generative AI Studio development environment, equipping users with valuable knowledge in this domain.

Nigeria Enforces 10% Capital Gains Tax on Cryptocurrencies and Digital Assets
Former President Muhammadu Buhari has signed the Finance Act 2023, implementing tax reforms to modernize Nigeria's fiscal system. Notably, the act enforces a 10% tax on capital gains derived from the sale of digital assets, recognizing the economic importance of cryptocurrencies and their role in the nation's advancement.

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