FameEX Morning Crypto News Recap | July 25, 2024

Wyoming Senator to Announce Bitcoin Strategic Reserve Legislation at Bitcoin Conference

On July 25, three crypto industry executives revealed that Wyoming Republican Senator Cynthia Lummis plans to announce Bitcoin strategic reserve legislation at the Bitcoin Conference. An early draft suggests the bill aims to instruct 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 Approves Bill to Legalize Cryptocurrency Mining

The Russian State Duma passed a bill in the first reading to legalize cryptocurrency mining. The bill mandates that the Russian federal government and the Central Bank of Russia will establish requirements for individuals and legal entities, including mining pool participants, engaged in digital currency mining.

EIB Urges Increased EU Innovation Financing to Boost Technological Leadership

The European Investment Bank (EIB) has urged for increased EU innovation financing in a report aimed at strengthening the region's technological leadership. It emphasizes the urgent need to remove investment barriers and direct funds to critical areas. The report highlights the importance of investing in scale-up companies to maintain the EU's technological advantage and global competitiveness.

Thailand Distributes Digital Money to 45 Million Citizens to Stimulate Economy

Thailand’s finance minister, Pichai Chunhavajira, confirmed the implementation of a 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, approximately two-thirds of the country's average monthly income.

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

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

Bitcoin Investment Fund Offers Pathway to EU Citizenship

A new fund offers Bitcoin holders a pathway to EU citizenship through Portugal’s golden visa program. Investors holding Bitcoin worth 500,000 euros (about $542,000) through the fund are eligible 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.