FameEX Morning Crypto News Recap | May 16, 2023

Paul Tudor Jones Remains Firmly Invested in Bitcoin Despite Rising Regulatory Scrutiny
In a recent interview, renowned investor Paul Tudor Jones shared his thoughts on the future of bitcoin, recognizing the potential regulatory challenges it may face. However, he reaffirmed his steadfast commitment to the leading cryptocurrency, highlighting that he currently holds a modest allocation of it in his investment portfolio and has no plans to change that stance.

Bitcoin Cash (BCH) Successfully Upgrades, Introducing Game-Changing Features of Cashtokens
On May 15, 2023, Bitcoin Cash achieved a significant breakthrough by incorporating four advanced features into its consensus ruleset. The long-awaited upgrade was successfully implemented at 1:24 p.m. UTC, representing a major stride for the peer-to-peer electronic cash platform. Supporters anticipate that these transformative changes will bring about a revolution in the blockchain ecosystem.

US Senators Bring Back the "ACES Act" to Ensure Cryptocurrency Accountability in El Salvador
U.S. Senators Jim Risch and Bob Menendez have brought back the "ACES Act" to the Senate. This legislation intends to assess the implementation of bitcoin as legal tender in El Salvador and its potential consequences on the nation's financial stability.

As Fund Outflows Reach $200M, Digital Asset Market Contracts in Response
CoinShares' latest "Digital Asset Fund Flows Report" reveals that Bitcoin funds saw $38 million in outflows on May 15 alone. Over the past four weeks, Bitcoin outflows totaled $160 million, accounting for 80% of all outflows. Furthermore, factoring in short positions, the total outflows related to Bitcoin amounted to $201 million. These statistics highlight a notable emphasis on Bitcoin in recent investor engagement.

Minneapolis Fed President Kashkari: CBDC Described as 'Ambiguous and Confusing Terminology'
Minneapolis Fed President Kashkari voiced skepticism about CBDCs during a transportation conference, criticizing the discussions as lacking evidence and being vague. He referred to them as "handwaving word salad" without substantial backing for claims of their superiority.

G7 Calls for Global Fast-tracking of 'Travel Rule' for Crypto Assets
The G7 committee met in Niigata, Japan, to discuss the worldwide financial implications of central bank digital currencies (CBDCs) and regulations for cryptocurrency asset transfers. They expressed support for CBDC development and underscored the need for transparency, the rule of law, economic governance, cybersecurity, and data protection, calling for additional investigation in these areas.

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