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FameEX Morning Crypto News Recap | December 5, 2023
2023-12-05 12:23:55
Bitcoin Records Second-Highest Transaction Activity Amid Price Boom, Surge in Ordinal Inscriptions
December 3, 2023, saw Bitcoin reaching its second-largest transaction volume, as the cryptocurrency's price exceeded $40K. This peak in transactions was just shy of the all-time high on November 19, 2023, with 710,579 transactions. Over this Sunday, bitcoin miners confirmed 707,876 transactions in a day, highlighting a notable increase in Bitcoin's trading activity.
JPM Coin by JPMorgan Poised for Inaugural Use in Interbank Transactions Jpm coin, JPMorgan's proprietary digital token, has been launched on Partior, a blockchain-driven banking settlement system. Developed in collaboration with JPMorgan, DBS Bank, Temasek, and Standard Chartered, the platform facilitates transactions among these banks through blockchain assets. Jpm coin's launch represents a pivotal step in adopting digital currencies for interbank transactions. IRS Notes Uptick in Investigations Related to Cryptocurrency Taxation In its December 4 annual report, the IRS's investigative branch revealed they launched over 2,676 cases in fiscal 2023, detecting more than $37 billion in tax and financial offenses. This increase in investigations is attributed to the rising use of digital assets, underscoring a growing focus on tax matters associated with these types of assets. Meta's Head of AI Announces 'AI War' in Progress, Names Nvidia as Main Provider of 'Tools' LeCun's commentary focused on Nvidia's supremacy in AI hardware, the imminent prospect of human-level AI, and Meta's choice to steer clear of quantum computing, setting it apart from rivals. He underscored critical elements of the changing AI field and Meta's deliberate approach in its technological advancements. Brazil's Leading Bank, Itaú Unibanco, Introduces Bitcoin Trading Platform Brazil's leading asset bank, Itaú Unibanco, and a key player in Latin America's banking sector, has debuted a cryptocurrency trading service, as reported by Reuters on December 4. This initiative, a component of its investment platform, starts with Bitcoin trading, signifying the bank's venture into the rapidly growing cryptocurrency marketplace. 36 Crypto Companies May Receive Licenses from South African Regulator in December South Africa's Financial Sector Conduct Authority (FSCA), the main financial regulator, has scrutinized 128 crypto asset service provider (CASP) applications. In their forthcoming December meeting, the focus will be narrowed to 36 of these applications, indicating a targeted progression in the licensing procedure for cryptocurrency firms. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
