FameEX Morning Crypto News Recap | June 30, 2023

Disclosure of Crypto Asset Exposure by European Banks
Banks operating under the European Union will be obligated to reveal their cryptocurrency exposure, following the EU's decision to enforce globally accepted regulatory standards. This measure aims to fortify financial institutions, enhance transparency, and bolster the stability of the EU banking sector.

Proposal in North Carolina Bill to Explore Bitcoin Holdings and Crypto's Potential for Hedging Against Inflation
North Carolina has advanced a bill to explore the incorporation of cryptocurrencies, particularly bitcoin, into the state treasury. With an allocation of $50,000 from the general fund, the bill aims to assess the procedures of acquiring, securely storing, insuring, and liquidating virtual currencies held on behalf of the state.

Change the Code Condemns Wall Street's Backing of Bitcoin Initiatives
Greenpeace-supported initiative, Change The Code, has denounced Wall Street firms for their participation in Bitcoin-related activities. Companies like Fidelity, Blackrock, JPMorgan, and Goldman Sachs have been specifically called out on social media, as the initiative finds their endorsement of ecologically detrimental technologies to be "unacceptable."

Bitcoin Network's First Downward Adjustment in 56 Days Predicts Easier Mining Ahead
Bitcoin's mining difficulty decreased by 3.26% on June 28, 2023, the first adjustment in 56 days. The difficulty level dropped to 50.65 trillion from a peak of 52.35 trillion on June 14. This adjustment helps maintain a steady block production rate in response to changes in miner participation and computational power.

Mastercard Introduces the 'Multi-Token Network' to Enhance Backing for the Digital Asset Sector
Mastercard introduces the Multi-Token Network (MTN), a blockchain-based app store facilitating regulated financial application development. MTN's purpose is to enhance trust in the digital asset sector by promoting its expansion and progress. This initiative marks a significant milestone in Mastercard's dedication to the digital asset landscape.

UK Crypto Bill Nears Conclusion, Progresses Towards Approval
UK Set to Enforce Cryptocurrency Regulations Equivalent to Traditional Assets as Bill Approaches Final Approval. The Financial Services and Markets Bill, endorsed by the upper chamber of parliament on June 19, awaits royal assent from King Charles on June 29. This long-discussed bill aims to enhance legal clarity and promote cryptocurrency adoption in the country.

OpenAI, the Developer of ChatGPT, Confronts Class-Action Lawsuit Accusing Data Theft
OpenAI, the maker of ChatGPT, is confronted with a class-action lawsuit in California, accused of harvesting private user data from the internet. As AI technology gains recognition, regulatory actions are underway in the European Union and the United States. This legal action raises concerns about data privacy and underscores the necessity for regulating the emerging AI industry.

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