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FameEX Morning Crypto News Recap | October 16, 2023
2023-10-16 12:06:50
Nigerian Central Bank Lifts Forex Restrictions on 43 Items, Empowering Market Forces to Influence Exchange Rates
The Nigerian central bank revealed on October 12 its decision to eliminate foreign exchange constraints affecting 43 imported goods. Initially introduced in 2015, these restrictions were thought to contribute to the devaluation of the naira in the parallel foreign exchange market.
JPMorgan CEO Raises Concerns About 'Decades' Most Hazardous Period JPMorgan Chase CEO Jamie Dimon has issued a stark warning, characterizing the present global climate as "the most perilous period in decades." He pointed to the Ukraine conflict and recent attacks on Israel as factors that could have significant and widespread implications for energy and food markets, global trade, and geopolitical dynamics. UAE Government Publishes White Paper on Metaverse Regulation The UAE government's metaverse white paper highlights its promise while underlining the importance of global preparedness in specific domains. Acknowledging the metaverse's opportunities and challenges, the document calls for international cooperation and proactive measures to effectively address them. Australian Treasury Suggests Crypto Exchange Regulation, Excludes Tokens from Oversight On October 16, the Australian Treasury released a "Regulating digital asset platforms" consultation paper introducing a novel regulatory framework. This framework is designed to address consumer-related issues and promote innovation within the digital asset sector, striking a balance between protection and advancement in this rapidly evolving financial landscape. Nigerian Government Allocates $290K for Advancing AI Initiatives Bosun Tijani, Nigeria's Minister of Communications, Innovation, and Digital Economy, announced plans on October 13 to provide 5 million naira (approximately $6,444) to support 45 startups and researchers in the field of artificial intelligence (AI). This initiative aims to bolster AI innovation and development within the country. California Governor Newsom Gives Nod to 2025 Crypto Regulation Bill Governor Gavin Newsom of California has approved the Digital Financial Assets Law, imposing more stringent regulations on crypto businesses starting in July 2025. This law necessitates individuals and firms participating in digital asset activities to obtain a Department of Financial Protection and Innovation (DFPI) license, strengthening oversight within the crypto industry. The announcement came on October 13. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
