FameEX Morning Crypto News Recap | May 30, 2023

US Bitcoin Corp Assumes Control of Reorganized Celsius Mining Division, Bolstering Hashrate by 12.2 EH/s
U.S. Bitcoin Corp (USBTC), as part of the Fahrenheit coalition, will employ the mining assets of bankrupt crypto lender Celsius. USBTC acquired Celsius' ASIC machines and intends to revive the fleet of 121,800 machines, leading to a substantial 12.2 exahash per second (EH/s) boost in their mining operations.

Robert Kennedy Jr. Condemns SEC's Prioritization of Banks, Urges Appointment of Crypto-Friendly Commissioners to Support the American People
Robert F. Kennedy Jr., a presidential candidate, voiced his disapproval of anti-cryptocurrency figures in the Securities and Exchange Commission (SEC). He criticized the SEC for favoring banks over the American people, highlighting their lack of transparency. Kennedy stressed the importance of enhanced financial system transparency.

Proposed 30% Crypto Mining Tax Dropped in Deal to Avert US Debt Default, Confirms Ohio Lawmaker
Ohio Representative Warren Davidson confirms that the legislation concerning the U.S. debt ceiling would halt the imposition of proposed taxes, such as the 30% tax on electricity used by cryptocurrency miners. An agreement aimed at preventing a government default is likely to remove the proposed tax on energy consumption in crypto mining, as per Davidson.

Uncertainty Lingers as Texas Legislative Session Ends Without Resolution on Crypto Bills
A proposed Texas legislation sought to cap incentives for crypto mining firms in a program compensating for power grid load reductions at 10%. Yet, as the bill made no progress, crypto companies are anticipated to maintain benefits and operate in Texas without incentive limitations.

Hong Kong Retail Market Opening on June 1 Spurs Competition Among Crypto Companies for Licenses
Ahead of the launch of Hong Kong's retail trading regime, crypto exchanges are eager to establish a presence in the market. Multiple cryptocurrency companies have announced their plans to seek licenses, marking the beginning of a competitive race to attract retail crypto traders in Hong Kong as June 1 draws near.

Amex Considers Utilizing AI to Streamline Card and Credit Line Approval Processes
American Express (Amex) plans to harness the power of artificial intelligence (AI) for tasks such as validating transactions, approving credit lines, analyzing customer sentiment, and forecasting finances. By integrating AI into its operations, Amex aims to enhance efficiency and deliver better customer experiences.

Russia Drops Plans for Establishing National Cryptocurrency Exchange
Russia has changed its approach to cryptocurrency exchanges, opting to regulate several trading platforms instead of establishing a single national exchange. This decision is a response to sanctions, and Anatoly Aksakov, a State Duma official, confirmed that Russia will persist in creating additional crypto platforms.

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