FameEX Morning Crypto News Recap | October 13, 2023

2023-10-13 12:30:45

Unexpected Spike in US Inflation Rattles Markets, Casts Doubt on Rate Hike

In September, U.S. inflation outpaced expectations, as the Consumer Price Index (CPI) recorded a 3.7% year-on-year increase, per the U.S. Bureau of Labor Statistics. Although core inflation dipped slightly from 4.3% to 4.1%, this surprising development has triggered speculation about the U.S. Federal Reserve's possible response, including the prospect of a federal funds rate hike, to address the ongoing inflationary pressures.

Mastercard's Wrapped CBDC Trial Achieves Success

Mastercard partnered with the Reserve Bank of Australia (RBA) and Australia's Digital Finance Cooperative Research Centre CBDC for a successful trial. This trial demonstrated the use of a CBDC to buy an Ethereum-listed non fungible token (NFT) in a live environment. It represents a significant milestone in the integration of digital currencies and blockchain technology, highlighting the feasibility of such transactions.

US Space Force Suspends ChatGPT-like Tool Usage Citing Security Concerns: Report

US Space Force personnel have received a directive barring the use of web-based generative AI tools for text, image, and media creation without prior approval. This measure, disclosed in a memorandum to Space Force members on September 29, was brought to light by Bloomberg on October 12, due to concerns related to security.

Proposed Senate Bill Aims to Penalize Producers of AI-Generated Deepfakes
In response to stalled negotiations between actors and Hollywood studios, a bipartisan group of U.S. senators has introduced a bill aimed at banning unauthorized AI-generated reproductions of people's voices and images. This legislative proposal addresses the contentious issue of AI replicas in the entertainment industry.

House Committee Chairman's Subpoena Threat to SEC Chair Unrelated to Cryptocurrency Matters
James Comer, Chair of the U.S. House Oversight and Accountability Committee, cautioned SEC Chair Gary Gensler about the possibility of a subpoena. In an October 12 letter, Comer indicated that if the SEC doesn't cooperate, the committee will use compulsory means to access requested documents. This subpoena threat pertains to matters unrelated to cryptocurrency.

Shenzhen Unveils Digital Yuan CBDC Development Hub in China
On October 11, China launched its first-ever industrial park dedicated to the advancement of the digital yuan, also known as e-CNY. This milestone signifies China's strong dedication to building and expanding its digital currency ecosystem, making it a significant development in the world of central bank digital currencies (CBDCs).

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

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