FameEX Morning Crypto News Recap | June 15, 2023

Miami Mayor Francis Suarez, a Strong Bitcoin Advocate, Joins the 2024 US Presidential Election Contest
Miami Mayor Francis X. Suarez, a vocal advocate for cryptocurrencies, has officially joined the 2024 US presidential race as a Republican candidate. Diverging from Joe Biden and Donald Trump, Suarez embraces digital currencies and has completed the required documentation with the Federal Election Commission.

Federal Reserve Pauses Interest Rate Hikes After 10 Consecutive Raises; Committee Foresees Additional Increases in the Current Year

The US Federal Reserve has opted to pause its interest rate increases, in line with market forecasts, after ten successive hikes over the past year. The Federal Open Market Committee (FOMC) underscored the stability of the US banking system and reaffirmed their commitment to closely monitor inflation risks.

Amidst Challenging Market Conditions, Bitcoin Mining Difficulty Reaches Unprecedented Heights
On June 14, 2023, the Bitcoin network experienced its third successive mining difficulty hike, resulting in a new all-time high of 52.35 trillion at block height 794,304. This 2.18% increase in mining difficulty highlights the arduous market conditions that Bitcoin miners are currently encountering.

US Senators Propose Bill to Strip AI Companies of Section 230 Protection
On June 14, Senators Josh Hawley (Republican) and Richard Blumenthal (Democrat) introduced a bill to eliminate the special protections given to artificial intelligence (AI) companies under the Communications Decency Act of 1996. This legislation aims to strip online computer service providers of their current privileges.

Oslo Freedom Forum Reveals CBDC Human Rights Tracker
The Human Rights Foundation (HRF) unveiled a CBDC tracker at the Oslo Freedom Forum, offering educational materials and a tip line. Expected to be fully operational by year-end, the tracker aims to enhance transparency and accountability in the implementation of central bank digital currencies (CBDCs).

European Union Adopts AI Act in Parliament
The EU AI Act, recently passed by the European Parliament, establishes a comprehensive legislative framework for regulating the use of artificial intelligence (AI) technologies within the European Union. It includes guidelines and oversight mechanisms to promote responsible and ethical AI practices, with a focus on fostering trust, transparency, and accountability in AI system development and deployment.

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