FameEX Morning Crypto News Recap | August 18, 2023

Judge Greenlights SEC's Motion for Interlocutory Appeal in Ripple Case Involving XRP
District Judge Analisa Torres swiftly granted the U.S. SEC's appeal request in the Ripple case involving XRP, permitting an interlocutory appeal. This follows Ripple Labs' objection to the SEC's plea, all occurring within a day.

Starting September, UK Crypto Firms Obliged to Follow FATF Travel Rule
Beginning September 1, UK cryptocurrency companies are mandated to follow FATF's Travel Rule, encompassing Anti-Money Laundering and Counter-Terrorist Financing directives. The Financial Conduct Authority (FCA) has affirmed this step, harmonizing the UK with 2019 FATF standards.

Central Bank of Colombia Suggests Limits on CBDC Holdings and Spending
To address potential threats, Colombia's central bank proposes enforcing limits on CBDC holdings and expenditures. This safeguarding approach aims to bolster security against cyberattacks targeting CBDC balances and transactions.

Stablecoin by PayPal Facilitates Cryptocurrency Adoption in Conventional Finance
PayPal's stablecoin debut has initiated talks about the growing integration of conventional finance and the crypto world. Prior allowance for U.S. and UK users to engage in cryptocurrency transactions on the platform laid the groundwork for this trend.

Examining Hong Kong's Crypto Standpoint: Industry Experts Assess Web3 Influence in the Region
Hong Kong seeks to establish itself as a major crypto hub through Web3 expansion, while its securities regulatory authority actively supervises the crypto industry, issuing licenses for retail cryptocurrency trading.

Google Empowers Search Engine with AI-Driven Enhancements
Google introduced search engine upgrades on August 15, incorporating advanced generative AI to enhance online information exploration. This technology creates new content by drawing from existing sources, as seen in tools like ChatGPT, which can generate text outputs such as poems and summaries based on past data.

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