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FameEX Morning Crypto News Recap | September 15, 2023
2023-09-15 15:00:20
Paul Krugman's Assertion: 'Remarkable Disinflation' Marks Triumph in the Fight Against Inflation
Renowned economist Paul Krugman's recent analysis of the US economy emphasized "remarkable disinflation." He contended that the data demonstrates a successful "inflation battle" without triggering a recession, refuting initial fears of enduring inflation.
Singapore's Monetary Authority Enforces 9-Year Ban on Three Arrows Capital Founders Singapore's Monetary Authority (MAS) has issued nine-year bans on Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies, barring them from regulated financial activities in the country. This action comes after an MAS investigation exposed multiple securities law violations committed by the now-defunct cryptocurrency hedge fund and its directors. Disclosure Report Shows Strong Backing for PayPal's PYUSD Stablecoin PayPal's PYUSD stablecoin has been active for 38 days, with issuer Paxos publishing a reserve transparency report. Like other prominent stablecoins, PYUSD is supported by cash reserves and U.S. Treasury reverse repurchase agreements, ensuring its reliability and stability. IMF Report Highlights Increasing Concerns About Generative AI's Risks in the Financial Sector A report on the IMF Publications website emphasizes the increasing use of artificial intelligence (AI) in finance and raises concerns about associated risks. It calls for vigilant regulation and thoughtful consideration as AI's presence in the financial sector continues to expand. Testimonies in House Financial Services Committee Offer Diverse Anti-CBDC Perspectives At a House of Representatives subcommittee hearing addressing the "digital dollar dilemma," five expert witnesses expressed strong reservations against the introduction of a U.S. central bank digital currency (CBDC) or digital dollar, leading to significant congressional disapproval on September 14th. EU Introduces Program to Accelerate Supercomputer Access for AI Startups Ursula von der Leyen, the European Union President, introduced an initiative to expedite European supercomputer access for AI startups. Emphasizing AI's significance, she cited a global AI community open letter advocating increased regulatory scrutiny to mitigate AI-related risks. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
