FameEX Morning Crypto News Recap | April 26, 2023

Bitcoin Advocates Rally at Texas State Capitol to Oppose Bill Cutting Mining Incentives
Around 100 individuals responded to the joint call from crypto advocacy groups Chamber of Digital Commerce, Satoshi Action Fund, and Texas Blockchain Council to oppose proposed legislation aimed at cryptocurrency mining firms. They gathered at the Texas State Capitol to demonstrate their disagreement with the move.

EU Data Watchdog Issues Warning of Potential 'Hellish' Scenario for AI Companies Based in the US
Wojciech Wiewiórowski, the European Union's data protection supervisor, has warned that United States-based artificial intelligence (AI) companies currently under investigation for alleged violations of the General Data Protection Regulation (GDPR) are in a difficult position. Wiewiórowski's remarks indicate that the EU intends to increase enforcement of the GDPR, and companies that fail to comply will face serious consequences.

German Authorities Initiate Investigation into ChatGPT's Adherence to GDPR Guidelines
German authorities have launched an investigation into OpenAI's adherence to privacy practices and compliance with the General Data Protection Regulation (GDPR), posing yet another challenge to the company's operations in the European Union. This move comes after the EU Commission began scrutinizing the startup in relation to the GDPR. The investigations into OpenAI's privacy practices show the growing pressure on AI firms to comply with the GDPR and other privacy regulations.

DAO Tokyo Draws Blockchain and Crypto Experts as Japan Ramps up Adoption Efforts
Japan's regulatory and political landscape for crypto and Web3 technologies has been rapidly evolving in recent years. The country's Financial Services Agency announced in December 2022 its intention to remove restrictions on foreign-issued stablecoins on Japanese exchanges, which could have significant implications for the decentralized finance (DeFi) ecosystem in Japan and beyond.

Visa Unveils Ambitious Plans for Crypto Product that Will Incorporate Stablecoin Payments
Cuy Sheffield, who leads Visa's crypto efforts, announced on Twitter that the company is working on a new cryptocurrency-related project. The upcoming product is aimed at promoting the widespread use of public blockchain networks and stablecoin payments. Sheffield emphasized that the goal is to make it easier for individuals and businesses to access and benefit from crypto technology.

Hillary Clinton Cautions that US Debt Default Could Trigger Global Financial Crisis and Endanger Dollar's Reserve Currency Status
Hillary Clinton has warned that the U.S. defaulting on its debt obligations could cause a global financial crisis and increase calls to replace the dollar as the world's reserve currency. She emphasized that if Congress continues to flirt with default, the consequences would be severe, and it would lead to a catastrophic situation.

Despite $2.4 Billion Loss in Stablecoin Economy, Tether Sees 2.3% Growth Since March 31
Despite a loss of $2.4 billion in the stablecoin market since March 31, 2023, Tether recorded a growth of 2.3% during the same period, while four of the top five stablecoins experienced net redemptions over the last 30 days. Though many digital assets have decreased in value against the U.S. dollar recently, Tether remained stable and even saw growth.

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