FameEX Morning Crypto News Recap | June 20, 2023

China and Malaysia Jointly Conduct AI Research for Blockchain Trade Applications
In a China-led global research initiative, Malaysian and Chinese blockchain developers collaborate to utilize AI in foreign trade. Their joint efforts focus on applying AI technology to enhance cross-border transaction efficiency, aiming for improved outcomes in global trade.

Zimbabwe's Central Bank to Launch Peer-to-Peer Platform for Effortless Gold-Backed Digital Currency Transactions
Zimbabwe's Reserve Bank is close to launching a peer-to-peer platform for seamless transactions of digital gold tokens. This initiative intends to reduce dependence on the US dollar by offering an alternative digital currency tied to the London Bullion Market Association. The platform's implementation is anticipated to bolster the local economy.

Bitcoin Network Braces for Fourth Surge in Mining Difficulty as Miners Maintain Strong Resolve During Record-Breaking Period
Venezuela reportedly contemplates discontinuing petro cryptocurrency operations amid corruption allegations involving the former head of Sunacrip. The allegations pertain to a potential $20 billion scheme linked to the settlement of Venezuelan oil sales.

Bank of France Governor Urges Regulation of Crypto Conglomerates, Calls for MiCA 2 Implementation
Bank of France Governor, Villeroy de Galhau, stresses the importance of global cooperation in regulating crypto conglomerates. During a technology forum in Paris, he suggests exploring an updated edition of the EU's cryptocurrency law, MiCA, as a means to effectively tackle the challenges presented by these conglomerates.

Bitcoin Surpasses 50% Market Dominance, Reaching a Milestone Unseen in 2 Years
On June 19, Bitcoin's market dominance in the cryptocurrency space briefly surpassed 50%, later stabilizing at 49.9%. This signifies that Bitcoin accounts for around half of the total $1.1 trillion market capitalization. Based on Coingecko data, Bitcoin's present market capitalization is $519 billion.

Continued Outflows Mark 9th Consecutive Week for Crypto Investment Products
CoinShares' "Digital Asset Fund Flows Report" reveals that cryptocurrency investment products witnessed outflows of $5.1 million in the previous week, marking the continuation of a nine-week trend. The cumulative outflows during this period reached $423 million.

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