FameEX Morning Crypto News Recap | March 26, 2024

EU Begins Investigation into Apple, Google, Meta for Digital Markets Act Violations

The European Commission has initiated an investigation into Apple, Meta, Amazon, and Alphabet (Google's parent company) for potential non-compliance with the Digital Markets Act (DMA). On March 25, it expressed concerns that the practices of these tech giants might not meet the DMA's requirements, suspecting their implemented measures do not ensure full adherence to the obligations stipulated by the act.

SWIFT Aims to Develop a Platform Linking CBDCs to the Current Financial System in 1-2 Years

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is embarking on a significant project to develop a platform within the next 1-2 years that will link emerging central bank digital currencies (CBDC) with the current financial infrastructure. This initiative is poised to become a pivotal milestone for the burgeoning CBDC ecosystem, evolving further as the initial major CBDCs make their debut.

Major Global Central Banks Poised to Begin New Easing Policy Cycle, Attracting Capital Back to Chinese Market

Following the end of "Super Central Bank Week," central banks from key global economies, including the US, Japan, the UK, and Switzerland, disclosed their most recent interest rate decisions. This has led to a reduction in global capital flows to the stock markets of the US and Japan, while foreign investments have started to flow more robustly back into the Chinese market.

U.S. SEC Proposes $2 Billion Penalty for Ripple Labs

The SEC has petitioned a New York judge to levy a $2 billion fine against Ripple Labs, according to Ripple's chief legal officer, Stuart Alderoty. A public document detailing the request is slated for release on March 26. This marks a significant step towards concluding Ripple Labs' extensive legal dispute with the SEC.

European Stocks Achieve Longest Nine-Week Winning Run in Almost 12 Years

European stocks stabilized, following a record nine-week rally, their longest in nearly 12 years. The Stoxx Europe 600 index closed with minimal changes in London, underpinned by supportive comments from several central banks last week, which reinforced investors' positive outlook on risk assets.

US Apparel Firm Beba Files Lawsuit Against SEC Over Classification of Digital Assets as Securities

Beba, a U.S. clothing brand, alongside the DeFi Education Fund, has sued the SEC, disputing its classification of digital assets as securities. The lawsuit aims to determine if Beba's free token distribution is considered a securities transaction, seeking to safeguard the company from potential SEC actions.

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