FameEX Morning Crypto News Recap | March 10, 2023

Update on Central Bank Digital Currency Progress Shared by US Federal Reserve Chair Powell
https://www.fameex.com/en-AU/news/crypto-trending-news-2023031001
During a hearing before the House Financial Services Committee, the Chairman of the Federal Reserve, Jerome Powell, provided an update on the progress of the central bank digital currency (CBDC). He stated that while they are making headway in terms of technological developments, it is crucial to address policy issues related to CBDC.

Lithuania Launches Register for Crypto Projects
https://www.fameex.com/en-AU/news/crypto-trending-news-2023031002
Jerome Powell, the Chairman of the Federal Reserve, expressed his concerns about the risks associated with digital assets during a Senate hearing. After his opening statement, which hinted at a possible increase in interest rate hikes, caused a decline in stocks, Powell acknowledged the risks related to cryptocurrencies. He stated that he sees several risks associated with digital assets.

Pakistan Banks to Create eKYC Platform Using Blockchain Technology
The Pakistan Banks' Association (PBA) has collaborated to introduce a national-level electronic Know Your Customer (eKYC) platform for banking, based on blockchain technology. By offering an efficient and secure digital identification verification process, the eKYC platform aims to minimize fraudulent activities in the banking industry while improving customer onboarding. PBA intends to make this platform accessible to all banks in Pakistan, thereby bolstering the country's banking sector.

Expert Economist Believes Federal Reserve's Efforts to Combat Corporate Greed Are Ineffective
Peter Schiff, a vocal critic of Bitcoin, has acknowledged that the recent rate hikes are not effectively curbing inflation. He believes that investments in digital assets such as Bitcoin should be approached from a different perspective. Schiff implied that investing in cryptocurrencies could be a hedge against inflation, suggesting that Bitcoin may offer a promising alternative to traditional investments.

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