FameEX Morning Crypto News Recap | July 25, 2024

Wyoming Senator to Unveil Bitcoin Strategic Reserve Legislation at Bitcoin Conference

On July 25, three crypto industry executives revealed that Wyoming Senator Cynthia Lummis will announce Bitcoin strategic reserve legislation at the Bitcoin Conference. An early draft indicates the bill directs the Federal Reserve to purchase Bitcoin and hold it as a reserve asset to stabilize the U.S. monetary system and dollar value.

Russia’s State Duma Passes Legislation to Legalize Cryptocurrency Mining

The Russian State Duma passed a bill in the first reading to legalize cryptocurrency mining. The legislation requires the Russian federal government and the Central Bank of Russia to set regulations for individuals and legal entities, including mining pool participants, involved in digital currency mining.

EIB Calls for Enhanced EU Innovation Financing to Strengthen Technological Leadership

The European Investment Bank (EIB) has called for increased EU innovation financing to strengthen technological leadership. The report stresses the urgent need to remove investment barriers and direct funds to critical areas, highlighting the importance of investing in scale-up companies to maintain the EU's technological edge and global competitiveness.

Thailand Distributes Digital Currency to 45 Million Citizens to Boost Economy

Thailand’s finance minister, Pichai Chunhavajira, confirmed the plan to distribute digital money as a social benefit. On August 1, up to 45 million Thai citizens will receive 10,000 baht (about $280) in digital currency, which is roughly two-thirds of the country's average monthly income.

Nigeria to Train 1,000 Residents Annually in AI and Blockchain

The Federal Government of Nigeria has launched the “AI Expertise Blockchain and Technology Training and Outsourcing Initiative” to annually train 1,000 Nigerians in AI, blockchain, and other advanced technologies. The program aims to position Nigeria as a leader in digital transformation within Africa.

Bitcoin Investment Fund Opens Pathway to EU Citizenship

A new fund provides Bitcoin holders a pathway to EU citizenship via Portugal’s golden visa program. Investors with Bitcoin holdings worth 500,000 euros (about $542,000) through the fund qualify for the Portugal Golden Residence Permit Program, a five-year residence-by-investment program for non-EU nationals.

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