FameEX Morning Crypto News Recap | April 18, 2023

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

SEC Asserts DeFi Must Comply With Securities Rules, Revealing Its Position
https://www.fameex.com/en-US/news/crypto-trending-news-2023041802
The SEC's recent warning that DeFi could be classified as a securities exchange is in line with Chairman Gary Gensler's view that cryptocurrency belongs in the securities realm and should be regulated accordingly. This move aims to formalize Gensler's position on the matter.

Bank of England Official Says Central Bank is Preparing for Tokenization's Increasing Role in Finance
Bank of England's deputy governor, Sir Jon Cunliffe, discussed the development of tokenization during his speech at the Innovative Finance Global Summit in London. He mentioned that the central bank is exploring tokenization in various areas such as bank money, non-bank money, and central bank money, along with ways in which tokenized assets will interact.

Elon Musk Plans to Launch Truth-Seeking AI Platform Called TruthGPT
Elon Musk has reportedly revealed plans to launch an AI platform called TruthGPT, which he says will be a rival to the large language model ChatGPT. Musk told Fox News that TruthGPT will be trained to explore the mysteries of the universe, but no further details have been released.

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