FameEX Morning Crypto News Recap | September 1, 2023

SEC Delays Approval for 7 Bitcoin ETFs as Deeper Analysis Is Sought
The SEC has postponed decisions on 7 Bitcoin ETF applications, including those from Invesco, Wisdomtree, Bitwise, and others. The delay aims to allow for a comprehensive evaluation of the proposals, as highlighted in the statements released on Thursday.

Implementation of UK's Travel Rule May Halt Select Crypto Transfers
In line with the recently enforced Travel Rule for cryptocurrencies in the UK, crypto businesses may start holding back specific crypto transfers to adhere to the Financial Conduct Authority's regulations. Effective September 1, these rules mandate UK-based virtual asset service providers to gather, validate, and exchange information concerning crypto-asset transfers.

KC Fed Monitors Robust Expansion of Crypto ATM Industry Amidst Presence of Unscrupulous Operators
Despite facing accusations of illicit or unethical conduct, the crypto ATM sector is flourishing in the US, states a Federal Reserve Bank of Kansas City report. With a growing customer base, the report suggests that improved cryptocurrency education could enhance the experience for users.

Extension of Export Restrictions on Nvidia AI Chip to 'Certain Middle Eastern Nations' by US Authorities
US regulators have urged Nvidia to limit exports of AI chips to specific Middle Eastern nations, affecting A100 and H100 chips used for accelerating machine learning, as stated in the company's recent quarterly report. The report, released on August 28, does not mention the exact countries impacted by the new regulations.

SWIFT Views Blockchain Integration as "More Feasible" Than Central Bank Digital Currency Unification
SWIFT suggests integrating current systems with blockchains is a near-term solution, prioritizing it over unifying central bank digital currencies (CBDCs) with tokenized assets on a single ledger. SWIFT's report outlines the potential for addressing blockchain network interoperability through its connections with blockchains.

China's Baidu and Fellow Tech Firms Launch AI Chatbots Similar to ChatGPT
China's Baidu, Baichuan Intelligent Technology, SenseTime, and Zhipu AI have introduced AI chatbots to the public after gaining government approval. This move comes within two weeks of the enactment of official AI legislation on August 15, which mandates government consent for launching AI products in the mass market.

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