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Hong Kong virtual banks eye Web3 growth despite regulatory hurdles

Despite capturing just 0.3% of retail bank assets, Hong Kong’s virtual banks are exploring opportunities in the Web3 space. Source link

Bitcoin as a US reserve asset is ‘great for price’ but poses significant risks — Charles Hoskinson

While a strategic Bitcoin reserve may be good for price action, the US Treasury controlling 19% of the BTC supply raises unprecedented centralization concerns. Source link

Tech firms pen letter to EU requesting more time to comply with AI Act

Tech companies release a joint letter requesting more time from the EU to comply with AI Act requirements, citing challenges due to the summer recess. Source link

Elon Musk’s X suspends data collection for AI training, EU watchdog says

After proceedings in an Irish court, the local Data Protection Commission said X agreed to suspend processing personal data of EU users to train its AI system. Source link

Thailand launches regulatory sandbox to test crypto services

Thailand has been moving toward a more crypto-friendly stance throughout 2024, approving a Bitcoin ETF, initiating tax breaks for crypto and more. Source link

Tether mints $1.3B USDT since market bottom — Can it push Bitcoin above $65K?

The newly minted stablecoins could help push Bitcoin’s price above the $65,000 resistance, which is the short-term whale holder’s realized price. Source link

Nigerian activist battles for Bitcoin rights in major legal challenge

The outcome of the case could have significant implications for the future of cryptocurrency in Nigeria. Source link

New platform tracks Bitcoin rollup performance in real time

Bitcoin Heartbeat by BVM offers a unique, real-time glimpse into Bitcoin’s L2 and L3 rollup projects, enhancing transparency and verifiability. Source link

Turkey sees surge in crypto license applications amid new regulations

Turkey’s crypto economy is poised for growth as local and international companies show keen interest ahead of new legislation. Source link

Bitcoin price must flip $62K to avoid worst 'death cross' consequences

Bitcoin is still due to close a daily chart “death cross,” but $62,000 resistance could be key to mitigating the BTC price downside which has followed in the past. Source link