FameEX Morning Crypto News Recap | March 24, 2023

US SEC Advises Investors of Potential Security Risks Associated with Crypto Assets
https://www.fameex.com/en-US/news/crypto-trending-news-2023032401
The US Securities and Exchange Commission (SEC) has issued a warning to investors to be cautious when dealing with crypto asset securities. The SEC cautioned that firms offering transactions involving crypto assets, including crypto asset securities, may not be compliant with US regulations. Investors are urged to exercise caution and conduct thorough research before investing in such assets.

Singapore's Monetary Authority to Release Digital Currency and Stablecoin Consultation Feedback in Q2
https://www.fameex.com/en-US/news/crypto-trending-news-2023032402
The Monetary Authority of Singapore (MAS) will publish the feedback it received on two consultation papers from 2022 regarding digital currency risks to investors. MAS Chairman Tharman Shanmugaratnam confirmed this in a letter to Singapore's parliament after facing inquiries from lawmakers. The proposals aim to protect investors from the dangers of digital currency trading.

Crypto Entrepreneur Do Kwon Faces US Indictment After Being Arrested in Montenegro
Do Kwon, the crypto entrepreneur who created two digital currencies that incurred losses exceeding $40 billion last year, has been charged with fraud by US prosecutors. The indictment consists of eight counts and was unsealed in the US District Court in Manhattan after Kwon's arrest in Montenegro. As of now, there has been no response from Kwon's lawyers in the US to requests for comments.

Italian Banks Back Digital Euro, But Worry About Disintermediation
The Italian Banking Association (ABI) and the Association of German Banks have proposed that commercial banks should be compensated for their role in distributing the digital euro, which will be created by the European Central Bank (ECB). As commercial banks will bear the costs related to anti-money laundering (AML) checks and dispute resolution, they should be incentivized for their role, the ABI suggested. The Association of German Banks also argued that commercial banks would help the ECB fulfill its public mandate and should thus be appropriately compensated.

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