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Hong Kong is asking banks to accept crypto clients more
The Central Bank of Hong Kong has specifically asked banks under it to help crypto firms by providing financial services. It wants the banks to work well with “virtual asset service providers” by providing them with fiat ramps and similar services.
Top 6 stablecoins by marketcap
Stablecoins are cryptocurrencies whose values are always pegged to that of another currency, commodity, or financial instrument. They are an alternative to the high volatility of other cryptocurrencies and fiat currencies, which may be hard to use digitally.
Tether USDT de-pegs as Curve 3Pool destabilizes
Tether’s USDT traded on a discount of up to 0.25% on June 15, 2023, due to imbalances in Curve 3Pool. Curve 3Pool is one of the most popular pools for stablecoin trading in decentralized finance. Therefore, a miscalculation or imbalance of reserves can affect its stablecoins.
EU lawmakers pass the first comprehensive artificial intelligence rules
EU leads the world in regulating artificial intelligence by passing the first comprehensive set of regulations. The new rules will monitor how generative AI like GPT4 is built and released commercially.
France invites Elon Musk to build a Tesla factory though it threatens Twitter
France Digital Minister Jean-Noel Barrot hints that the country is planning to convince Elon Musk to invest in the next Tesla Gigafactory there. Barrot made these statements in an interview with a CNBC Journalist on June 14 though she also noted that if his Twitter platform does not comply with the upcoming EU Digital Services Act, it will get banned.
Digital dollar could trigger a bank run: Treasury Official
A digital dollar is still not sitting well with treasury Official Graham Steele on worries that it could very well trigger bank runs. Steele thinks that the in-research digital dollar could encourage further withdrawals from banks, weakening an already shaken system.