FameEX Afternoon Crypto News Recap | March 30, 2023

Blockchain-Powered Dollar Accounts for Banks in India Launched by JPMorgan
https://www.fameex.com/en-AU/news/crypto-trending-news-2023033003
JPMorgan's blockchain pilot program will be exclusive to banks operating in India's GIFT City, an economic free trade zone that rivals other international financial centers. The project will allow participating banks to establish on-chain Nostro accounts for conducting dollar payments, as per a report in the Economic Times.

Thailand Considers Scrapping Retail ICO Limit of THB 300K
According to Bangkok Post, the Thai regulatory body is holding a public hearing until April 27 to obtain opinions on its plan to eliminate the cap on asset-backed initial coin offerings (ICOs), including those that are backed by real estate and infrastructure projects. At present, retail investors are limited to investing up to 300,000 baht in an ICO project.

Upcoming Discussion in Australian Parliament on Bill for Licensing Crypto Exchanges
Australian Senator Andrew Bragg has introduced a bill to establish a licensing framework for cryptocurrency trading platforms in the country. The bill proposes three licenses for exchanges, custodians, and stablecoin issuers. Bragg emphasized the need for swift parliamentary action to provide regulatory certainty for the industry, contrasting it with the US approach of "clandestine" regulation.

Gary Gensler, Head of U.S. SEC, Requests More Funding to Regulate Crypto
According to Gary Gensler, the chief of the US Securities and Exchange Commission (SEC), the cryptocurrency markets are currently akin to the "Wild West," with many instances of non-compliance and significant risks for investors. To address these issues, Gensler emphasized the need to enhance the SEC's capabilities to match the growth and complexity of the capital markets and to counteract the sophisticated tactics used by malicious actors.

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