FameEX Morning Crypto News Recap | July 24, 2023

Legal Expert Forecasts 2-Year Process for SEC Appeal on Ripple-XRP Ruling
A lawyer discusses possible consequences if the SEC appeals the Ripple-XRP ruling, noting the absence of an immediate right to appeal and predicting a two-year duration for the appellate court's decision.

Federal Reserve Ends Tightening Cycle with Consensus on Terminal Rate Hike, According to Economists and Bernanke
The Federal Reserve plans to raise the federal funds rate by 25 basis points in the upcoming FOMC meeting. Market confidence reinforces the belief in this inevitable increase, and according to a Reuters poll of 106 economists, it signals the end of the current tightening cycle.

Research Shows US Leads in Public Debt per Capita
Singapore, the United States, and Japan lead in global sovereign debt per capita, as per U.N. data. The study shows each American carries a government debt burden ten times higher than a Chinese citizen.

Digital Yuan Transactions Exceed $250 Billion, Says China's Central Bank
By the end of June, transactions using China's central bank digital currency (CBDC) surpassed 1.8 trillion yuan ($250 billion), as revealed by the central bank governor. Additionally, the circulation of digital yuan reached 16.5 billion yuan, according to a People's Bank of China (PBOC) official.

BRICS Leaders' Summit Opts Not to Discuss BRICS Currency; Emphasizes De-Dollarization Instead
South Africa's BRICS diplomat confirms that the upcoming leaders' summit will not address the BRICS currency. Instead, the summit will emphasize de-dollarization and promoting the use of national currencies in international trade, reducing reliance on the U.S. dollar.

Bitcoin ETFs: Mintlayer CEO Enrico Rubboli Highlights Their Role as an Accessible Path to Cryptocurrency Investment
Enrico Rubboli, CEO of Mintlayer, proposes Bitcoin ETFs as a means to introduce users to cryptocurrencies and pique their interest in the underlying asset. Despite concerns from Bitcoin maximalists about traditional financial institutions' involvement, Rubboli believes ETFs could be instrumental in driving cryptocurrency adoption.

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