FameEX Morning Crypto News Recap | August 23, 2023

Oman Inaugurates $350 Million Cryptocurrency Mining Hub
Oman has inaugurated its second cryptocurrency mining center within 10 months, investing around $350 million. Equipped with Bitmain Technologies' cutting-edge hardware, the center is currently operating with 2,000 machines, consuming 11 megawatts of power. The plan is to have 15,000 machines by October 2023.

US Legislator Strongly Criticizes SEC's 'Irresponsible' Rulemaking — Raises Concerns About 'Persistent Economic Damage'
A US legislator criticized SEC and Chairman Gary Gensler, accusing them of hasty rulemaking without proper economic analysis or public input. The legislator cautioned that this approach could lead to interconnected economic damage across sectors.

Brazil's Central Bank Introduces New Name 'Drex' for CBDC, Anticipates 2024 Launch
Brazil's Central Bank unveiled "drex," its renamed CBDC previously called digital real. The bank cited rebranding reasons and outlined potential for revolutionizing real estate and vehicle transactions using digital contracts. Drex's launch is anticipated in the coming year.

Indications Suggest China May Align Enlarged BRICS Against G7 Nations
China is reportedly working on broadening BRICS to create a geopolitical counterbalance to the G7, according to a Chinese official. In an upcoming Johannesburg summit, the bloc will deliberate on including Saudi Arabia and the UAE among its members.

Crypto Investment Adviser Faces SEC Charges Over Deceptive 'Hypothetical Performance Projections'
The SEC has charged Titan Global Capital Management for promoting deceptive "hypothetical performance projections" related to its crypto investment offering. The firm is additionally accused of breaching marketing regulations by not following necessary procedures while publicizing hypothetical performance metrics.

City in South Korea to Confiscate Cryptocurrency from Thousands of Tax Delinquents
Cheongju city in South Korea is planning to confiscate cryptocurrency holdings from individuals with crypto tax debts exceeding $750. The initiative, aimed at local tax defaulters in Cheongju, the capital of North Chungcheong province, is set to commence the seizure of digital assets.

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