HSBC Holdings and a joint venture led by Standard Chartered are reportedly set to become the first authorized stablecoin issuers in Hong Kong. The Hong Kong Monetary Authority (HKMA) is expected to issue stablecoin licenses to HSBC and Standard Chartered, the South China Morning Post reported Thursday, citing people familiar with the matter. HSBC and…
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Bitcoin (BTC) hit eight-day highs into Friday’s Wall Street open as markets awaited key US inflation cues. Key points: Bitcoin shows resilience despite macro market uncertainty with another push beyond $72,000. Key US inflation data increased the chances of risk-asset volatility to come. BTC price gains outperform macro assets since the start of the Iran…
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Bitcoin (BTC) may approach a market bottom, with a macro model tied to the US and China’s benchmark 10-year bond yields hinting at a potential rally toward $100,000 in the months ahead. Key takeaways: Bitcoin whales show signs of accumulation that were seen near the 2023 market low. BTC holds key long-term support while “oversold,”…
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Many Bitcoin miners are struggling to turn a profit this market cycle due to diminishing returns, so they may need to pivot to artificial intelligence hosting or put their holdings to work to generate yields, says market maker Wintermute. Wintermute said in a blog post on Thursday that Bitcoin (BTC) miners have spent years building…
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The Bitcoin Policy Institute (BPI) says it will push the US Federal Reserve to change how Bitcoin is treated, as the central bank is set to issue rules on how banks should implement international guidelines for asset risk weighting. “BPI will be reviewing this proposal closely and submitting a public comment to ensure that US…
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A group of Democratic senators say they will oversee a reported Justice Department investigation into possible Iran-related sanctions violations on the crypto exchange Binance. Senators Chris Van Hollen, Elizabeth Warren and Ruben Gallego said in a joint statement on Thursday that they “will conduct oversight to ensure the Department of Justice conducts a serious investigation…
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US Senator Majority Leader John Thune reportedly said he doesn’t expect the chamber to move forward with legislation to establish digital asset market structure before April. According to a Thursday Punchbowl News report, Thune said that the Senate planned to prioritize voting on the SAVE America Act, a bill that would require voters to provide…
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US Securities and Exchange Commission (SEC) Commissioner Hester Peirce said regulators should avoid micromanaging markets and consider simplifying disclosure requirements as discussions around tokenized securities continue. Peirce, often referred to as “Crypto Mom” for her generally supportive stance toward the digital asset industry, made the remarks Thursday during a speech to the SEC’s Investor Advisory…
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The United States Senate voted on Thursday to include an amendment in the 21st Century Road to Housing Act that would prohibit the Federal Reserve from issuing a central bank digital currency (CBDC). The CBDC prohibition will remain in effect until Dec. 31, 2030, according to the amendment in the bill. The legislation, which passed…
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A federal court in Alabama has granted a motion to dismiss a 2024 complaint filed against Binance, its separate US entity Binance.US and former Binance CEO Changpeng “CZ” Zhao over allegations that the cryptocurrency exchange facilitated transferring funds to terrorist groups. In a Wednesday order, US District Court for the Middle District of Alabama Magistrate…
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