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FameEX Morning Crypto News Recap | November 7, 2023
2023-11-07 12:06:15
Hong Kong Authority Set to Expand Oversight of Digital Asset Operations
The Hong Kong Monetary Authority (HKMA) is planning to broaden its oversight of the virtual asset sector by bringing stablecoin issuers under its regulatory umbrella. Additionally, the HKMA is working to develop a comprehensive regulatory framework specifically aimed at governing the provision of virtual asset custody services by banks.
Georgia's Central Bank Partners with Ripple for CBDC Pilot Technology Assistance
The National Bank of Georgia has appointed Ripple as its exclusive technology partner for its forthcoming central bank digital currency, the digital GEL. Out of nine potential collaborators, Ripple was chosen for its proven CBDC solution to drive the pilot phase of Georgia's venture into digital currency.
Elon Musk Asserts His Companies Will Never Develop Their Own Cryptocurrency Token Elon Musk, the CEO of Tesla and SpaceX, has clarified that his companies will not create their own cryptocurrency tokens. This declaration follows incidents where a cryptocurrency misused the name of his AI firm, and articles falsely linked his social media platform X to crypto tokens. OpenAI Commits to Covering Legal Expenses for ChatGPT Users Facing Copyright Litigation OpenAI has introduced "Copyright Shield," a pledge to support legal defenses for business-tier ChatGPT Enterprise and developer platform users facing copyright litigation. This move, akin to efforts by Google and Microsoft, does not extend to users of OpenAI's free or Plus ChatGPT services. SEC Watchdog Claims Crypto Ownership Ban Impedes Recruitment Efforts The U.S. SEC's Inspector General reported that the agency faces significant challenges in hiring, particularly for crypto specialists, due to a limited pool of candidates and intense competition from the private sector, as per the OIG's annual review of the SEC's management and performance hurdles. Hong Kong Authority Sets Requirements for Tokenized Investment Amid Rising Interest The Hong Kong Securities and Futures Commission (SFC) has outlined business conduct requirements for tokenized securities offerings in a recent circular. The document highlights 12 key points, focusing on tokenization arrangements, disclosure requirements, intermediary guidelines, and staff qualifications necessary for conducting tokenized security-related operations. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
