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Senator Mike Lee has proposed a bill called the "Abolish Act," which seeks to dismantle the Federal Reserve System as a government entity. This legislation also aims to repeal the foundational Federal Reserve Act of 1913, which established the Fed. Argentina Investigates El Salvador's Bitcoin Integration Strategy
Argentina's new government is showing a keen interest in Bitcoin's potential. Newly elected president and crypto enthusiast Javier Milei is progressively making good on his promise to weave digital assets into the fabric of the real economy. 
A vulnerability in WhatsApp Messenger allows fraudulent groups or government organizations to track who users are messaging and their approximate locations, though the messages themselves remain encrypted. This was disclosed by developers in an internal security report. 
The European Securities and Markets Authority (ESMA) has published its first final report on the regulatory framework for the crypto market under the Markets in Crypto-Assets Regulation (MiCA). This document presents ESMA's recommendations regarding the criteria for the proper registration of crypto service providers and the procedure for handling complaints. The report has now been submitted to the European Commission, with ESMA set to assist the government in implementing these recommendations as a consultant. 
The Chinese government is scrutinizing PricewaterhouseCoopers (PwC), the audit firm implicated in a significant fraud case with the Evergrande Group, involving around $78 billion. Chinese officials have reached out to PwC accountants who audited the construction giant, seeking more insights. 
Fintech company Imperium Markets has called on the Australian government to accelerate the tokenization of debt instruments to stay competitive in today’s market. The company has long been working with the government on a pilot project employing distributed ledger technology for tokenization. Financial Services Committee Calls for RWA Tokenization Rules
On June 5, the U.S. Financial Services Committee hosted a public hearing titled "Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets." The event gathered experts including lawyers, representatives from government financial institutions, and private business executives. 
The Chinese government has launched a specialized investment fund dedicated to supporting local development and manufacturing of chips, including those designed for artificial intelligence. Since its official establishment on May 24, the fund has attracted over $47.5 billion in investments. How to Replace the Government with a Blockchain?
Blockchain technology, with its inherent decentralization and transparency, seems ideally suited for governance without traditional leadership structures. Can blockchain completely replace traditional government structures? This discussion looks into scenarios where blockchain could be effectively implemented in governance and where it might fall short. 
Why Replacing Government with Blockchain is Not a Good Idea
Automating government functions with smart contracts might seem appealing, but is it truly a wise choice? We explore the reasons why replacing traditional government structures with a blockchain-based system could be problematic and the potential challenges of integrating blockchain technology within government operations. 
The Biden administration has officially announced direct government investments into Intel, aimed at bolstering chip manufacturing in the United States. This initiative is set to reinstate America's dominance in the semiconductor industry and enhance its standing in the field of artificial intelligence, with the investment totaling up to $8.5 billion. 
Tether, the issuer of the USDT stablecoin, has again provided assistance to US law enforcement by helping to recover about 1.4 million USDT stolen by fraudsters masquerading as technical support. Tether has announced that all recovered funds will be returned to the victims and that the company will maintain its voluntary cooperation with government authorities. 
China's state media is once again alerting its citizens to the dangers and illegality of cryptocurrency trading, as well as enforcing a total ban on mining. This move coincides with a surge in Bitcoin's popularity following the approval of spot ETFs and the anticipation of the upcoming halving event, which will reduce the reward for mining a block by half.