FameEX Morning Crypto News Recap | April 18, 2023

Chinese State-Owned Banks Collaborate with Hong Kong Crypto Firms
https://www.fameex.com/en-AU/news/crypto-trending-news-2023041801
According to reports, Chinese state-owned banks are opening bank accounts for regulated crypto firms in Hong Kong, serving as a payment layer for the crypto platforms. Despite China's ban on crypto activities in the country, nearly 80 crypto companies have expressed interest in expanding or opening their business in Hong Kong, which is perceived as a gateway between mainland China and the rest of the world.

SEC Takes Firm Position, Requiring DeFi to Adhere to Securities Regulations
https://www.fameex.com/en-AU/news/crypto-trending-news-2023041802
The SEC's warning about the potential classification of DeFi as a securities exchange aligns with Chairman Gary Gensler's belief that cryptocurrency should be subject to securities regulations. The move is intended to formalize Gensler's position on the matter and ensure that DeFi and other crypto operations are held to the same standards as traditional financial firms.

Bank of England Official Discusses Central Bank's Preparation for the Growing Role of Tokenization in Finance
Sir Jon Cunliffe, the deputy governor of the Bank of England, talked about the advancements in tokenization during his speech at the Innovative Finance Global Summit in London. He stated that the central bank is currently studying tokenization in bank money, non-bank money, and central bank money, along with ways to integrate tokenized assets.

Elon Musk's TruthGPT: An Upcoming AI Platform for Seeking Truth
Elon Musk plans to launch an AI platform called TruthGPT, which will compete with the large language model ChatGPT. According to a report by Fox News, Musk mentioned that TruthGPT will be trained to explore the mysteries of the universe, but did not reveal any further details.

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