FameEX Morning Crypto News Recap | July 5, 2024

German MP Urges Government to Halt ‘Hasty’ Bitcoin Sell-Off

German MP Joana Cotar criticized the mass Bitcoin sell-off, calling it neither "sensible" nor "productive." She argued that Bitcoin could diversify Germany's treasury assets, act as a hedge against inflation and currency devaluation, and promote innovation within the country.

Former Deputy Attorney General Donald Verrilli Claims US Regulators Are "Debanking" the Cryptocurrency Industry

Donald Verrilli, former deputy attorney general, claims US regulators are "de-banking" the cryptocurrency industry. Despite the industry's need for banking services, federal regulators are taking coordinated actions to restrict its access to these services, according to Verrilli.

Digital Euro Association Releases Report on MiCA Regulations' Impact on Stablecoin Issuance

The Digital Euro Association's report analyzes the impact of European MiCA regulations on stablecoin issuance, suggesting MiCA could become the foundation for global stablecoin regulation. The report recommends forming a global body akin to the Basel Committee to standardize stablecoin regulations and learn from MiCA's implementation, proposing several improvements for more effective regulation.

SEC Intensifies Cryptocurrency Crackdown

BlockTower Capital's founder stated that the SEC's actions against venture capital indicate an expanded crackdown on cryptocurrencies. Chief Investment Officer Ari Paul revealed on the Unchained podcast that the SEC has initiated several investigations into venture capital firms, labeling them as unregistered securities dealers.

South Korea's Financial Regulator and Exchanges Launch 24-Hour Real-Time Monitoring System

South Korea's financial regulator, in collaboration with local exchanges, has developed a 24-hour real-time monitoring system to detect suspicious activities in the cryptocurrency market. Launching on July 19, coinciding with the enforcement of South Korea’s first Virtual Asset User Protection Act, this system covers 99.9% of the country's cryptocurrency transactions, adhering to the latest standards.

BitDeer to Deploy 3.4 EH/s ASIC Miners to Texas and Norway Data Centers by Q4 2024

BitDeer announced the initial deployment of Sealminer mining machines to data centers in June, undergoing rigorous testing. The 14 J/TH SEAL02 chip's tape-out is complete, with wafers expected in Q3 2024. BitDeer plans to deploy 3.4 EH/s ASIC miners to Texas and Tydal, Norway, by Q4 2024, aiming for a total computing power of 11.8 EH/s by year's end.

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