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FameEX Morning Crypto News Recap | September 25, 2023
2023-09-25 12:41:50
Cooling Trends: NFT Market Sees 34% Decline Over 30 Days
Recent data underscores a persistent decline in non-fungible token (NFT) sales, with a 3.2% weekly dip and a significant 34% monthly drop. As September draws to a close, NFT sales have amassed $341.37 million since August 24. These trends provoke concerns regarding the NFT market's enduring viability and susceptibility to fluctuations.
US House Committee Greenlights CBDC Anti-Surveillance State Act with Support of 60 Congress Members
The US House Financial Services Committee has given the green light to the CBDC Anti-Surveillance State Act, representing the first US legislative move against central bank digital currencies. Congressman Tom Emmer stressed the bill's goal to block the Biden administration from developing a financial surveillance tool that might jeopardize American principles.
UK Online Safety Bill Passes into Law Amidst Vigorous Opposition from Civil Liberties Organizations
The UK Online Safety Bill, aimed at enhancing online safety, has gained approval from both parliamentary houses and is on the verge of becoming law. Nevertheless, it has drawn substantial criticism from civil liberties organizations and activists, who are concerned about its potential implications for online privacy and encryption, making digital rights a contentious topic in this context.
Federal Reserve's 2023 Outlook: Anticipating Another Rate Hike with Emphasis on Achieving a 'Soft Landing The U.S. Federal Reserve plans to raise the federal funds rate by the close of 2023, as per their forecasts. This follows the recent decision to keep interest rates steady at the Federal Open Market Committee (FOMC) meeting. Chairman Jerome Powell stressed the significance of maintaining a "restrictive policy" to combat inflation, awaiting additional data for guidance. FTX Commences Legal Proceedings Against Former Hong Kong Affiliate Staff Bankrupt cryptocurrency exchange FTX has initiated legal proceedings against ex-employees of its Hong Kong affiliate, Salameda, to reclaim $157.3 million. FTX contends that this sum was unlawfully withdrawn shortly before the exchange declared bankruptcy. This legal action is a notable step in FTX's financial recovery efforts, aiming to resolve the disputed withdrawal and retrieve the funds. EU Parliament Research Advocates Enhanced Cryptocurrency Regulation for Non-EU Nations The European Parliamentary Research Service (EPRS) stresses the need for non-European Union regulators to bolster supervision in the global cryptocurrency market. The report highlights the complexity of the United States' regulatory environment, involving numerous state and federal entities, which creates difficulties in achieving legal clarity and regulatory certainty. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
