FameEX Morning Crypto News Recap | June 30, 2023

European Banks' Disclosure of Crypto Asset Exposure
The European Union has announced that banks within its jurisdiction will be mandated to disclose their cryptocurrency exposure. This requirement is being implemented as part of a broader agreement to adopt internationally agreed upon regulatory standards, with the goal of enhancing the resilience of financial institutions. The move aims to promote transparency and strengthen the overall stability of the banking sector in the EU.

North Carolina Bill Proposes Study on Bitcoin Holdings and Crypto's Inflation Hedging Potential
The state of North Carolina in the United States has made progress in a bill that proposes studying the inclusion of cryptocurrencies, specifically bitcoin, in the state treasury. The bill allocates $50,000 from the general fund to examine the acquisition, secure storage, insurance, and liquidation processes of virtual currencies held on behalf of the state.

Change the Code Criticizes Wall Street's Support of Bitcoin Initiatives
Change The Code, an initiative supported by Greenpeace, has strongly criticized Wall Street firms for their involvement in Bitcoin-related endeavors. Specifically targeting companies such as Fidelity, Blackrock, JPMorgan, and Goldman Sachs on social media, the initiative deems their support of environmentally harmful technologies as "unacceptable."

Bitcoin Network Experiences First Downward Adjustment in 56 Days: Mining Expected to Become Easier
Bitcoin's mining difficulty underwent its initial downward adjustment in 56 days on June 28, 2023, marking a 3.26% decline since May 4. This adjustment brought the network's difficulty level down to 50.65 trillion, following a previous peak of 52.35 trillion recorded on June 14. The adjustment aims to maintain a consistent block production rate as the network reacts to changes in miner participation and computational power.

Mastercard Launches 'Multi-Token Network' to Expand Support for the Digital Asset Industry
Mastercard has launched the Multi-Token Network (MTN), a blockchain-powered app store for creating regulated financial applications. With MTN, Mastercard aims to strengthen confidence in the digital asset industry by supporting its growth and development. The company views this initiative as a significant step forward in its commitment to the digital asset space.

UK Crypto Bill Approaches Final Stage, Set to Advance Towards Approval
The United Kingdom is poised to pass a bill that will subject cryptocurrencies to the same regulations as traditional assets. After receiving approval from the upper chamber of the UK parliament on June 19, the Financial Services and Markets Bill is now awaiting royal assent from King Charles on June 29. This bill, which has been under discussion since July 2022, is expected to provide legal clarity and foster the adoption of cryptocurrencies within the country.

OpenAI, Creator of ChatGPT, Faces Class-Action Lawsuit Alleging Data Theft
OpenAI, the creator of ChatGPT, is facing a class-action lawsuit in California for allegedly extracting private user data from the internet. As AI technology gains prominence, regulatory efforts are being made in the European Union and the United States. The lawsuit highlights concerns regarding data privacy and the need for regulation in the nascent AI industry.

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