🚀 Hong Kong Monetary Authority And Qatar Central Bank Strengthen Financial Cooperation
#HongKong #Qatar #MonetaryAuthority #CentralBank #FinancialCooperation #FinancialServices #CapitalMarket #SustainableFinance #BondMarket #DigitalAssets #TalentCultivation
According to Odaily, the Hong Kong Monetary Authority (HKMA) and the Qatar Central Bank held a bilateral meeting on October 3 in Doha (Doha time) to enhance cooperation in the financial services sector. During the meeting, the two institutions discussed various collaborative initiatives aimed at strengthening financial infrastructure. They also shared experiences on capital market connectivity, sustainable finance, bond market development, digital assets, and talent cultivation.#HongKong #Qatar #MonetaryAuthority #CentralBank #FinancialCooperation #FinancialServices #CapitalMarket #SustainableFinance #BondMarket #DigitalAssets #TalentCultivation
🚀 Dormant Bitcoin Address Activated After 10.7 Years
#Bitcoin #DormantAddress #WhaleAlert #Crypto #Blockchain #Investment #ValueIncrease
According to BlockBeats, on October 3, Whale Alert reported the activation of a Bitcoin address that had been dormant for 10.7 years. The address contains 99 Bitcoins, which have appreciated significantly in value, now worth over $6 million.#Bitcoin #DormantAddress #WhaleAlert #Crypto #Blockchain #Investment #ValueIncrease
🚀 BBVA Plans To Launch Visa-Supported Stablecoin In 2025
#BBVA #Visa #stablecoin #cryptocurrency #finance #banking #2025
According to BlockBeats, market sources revealed on October 3 that BBVA, Spain's second-largest bank, is planning to introduce a Visa-supported stablecoin in 2025.#BBVA #Visa #stablecoin #cryptocurrency #finance #banking #2025
🚀 Proposed Unrealized Capital Gains Tax Could Harm Cryptocurrency Investors
#UnrealizedCapitalGainsTax #CryptocurrencyInvestors #TaxProposal #ZacTownsend #CapitalGainsTax #CryptocurrencyMarket #FinancialImpact #StoreOfValue #EconomicConsequences #InvestorConcerns
According to BlockBeats, on October 3, Among Us CEO and co-founder Zac Townsend expressed concerns that the proposed unrealized capital gains tax by Harris would negatively impact cryptocurrency investors.
The core of the unrealized capital gains tax proposal is to require individuals to pay taxes on the appreciation of their cryptocurrency holdings, even if they have not sold any assets. Townsend highlighted that this approach is fundamentally different from traditional tax principles, which only apply to gains realized upon the sale of assets.
Townsend warned that this plan could have devastating consequences for cryptocurrency investors and the broader economy. It could undermine the intrinsic value of cryptocurrencies as a store of value not controlled by any single government. The tax could incentivize large investors to sell off assets to pay the tax, leading to a decrease in cryptocurrency prices and affecting the returns of everyday investors, including those who have invested small amounts in hopes of improving their financial situation.#UnrealizedCapitalGainsTax #CryptocurrencyInvestors #TaxProposal #ZacTownsend #CapitalGainsTax #CryptocurrencyMarket #FinancialImpact #StoreOfValue #EconomicConsequences #InvestorConcerns
🚀 Taiwan Introduces New AML Regulations For Crypto Firms
#Taiwan #AMLRegulations #Crypto #VASPs #FinancialSupervisoryCommission #DigitalAssets #ETFs #Compliance #RiskAssessment #Cryptocurrency #Finance
According to Cointelegraph, the Financial Supervisory Commission (FSC) of Taiwan has unveiled new Anti-Money Laundering (AML) regulations that all local virtual asset service providers (VASPs) must adhere to by 2025.
On October 2, the FSC released updated AML measures following earlier amendments proposed by the financial watchdog. Taiwan has been expected to introduce new crypto-related regulations since March. The new regulations mandate that all crypto firms register with the government by September 2025 or face penalties, including a two-year prison sentence or fines up to 5 million New Taiwan dollars ($155,900).
Effective January 1, 2025, these regulations will replace the current system for Taiwanese VASPs. Even if companies have previously completed the old AML compliance measures, they are still required to meet the new standards and registration process. The FSC advised VASPs to consider waiting until the new registration system is implemented before submitting their documents to avoid reapplying under different rules.
VASPs are also expected to prepare a risk assessment report and submit it to the respective government agency each year as part of the new compliance measures. The FSC is anticipated to submit a new proposal for crypto-related laws by June 2025, with a draft expected by the end of this year.
In addition to its new AML regulations, the Taiwanese government has been expanding its involvement in the crypto sector. On September 30, the FSC opened the digital asset ETF market to local professional investors, allowing access to high-risk foreign digital asset exchange-traded funds (ETFs). This move aims to boost Taiwan’s financial market competitiveness and aligns with similar efforts in Hong Kong and Singapore.#Taiwan #AMLRegulations #Crypto #VASPs #FinancialSupervisoryCommission #DigitalAssets #ETFs #Compliance #RiskAssessment #Cryptocurrency #Finance
🚀 Lido To Pause wstETH Deposits From Ethereum To Optimism For Upgrade
#Lido #wstETH #Ethereum #Optimism #Upgrade #Deposits #CryptoNews
According to Odaily, Lido has announced on the X platform that as part of the upgrade to introduce stETH to Optimism, deposits of wstETH from Ethereum to Optimism will be paused starting October 7. This suspension will remain in effect until the upgrade is completed, which is expected to be around October 14.#Lido #wstETH #Ethereum #Optimism #Upgrade #Deposits #CryptoNews
🚀 Cryptocurrency Market Recovery Tied To US Stock Performance
#Cryptocurrency #MarketRecovery #USStockMarket #QCPCapital #MacroeconomicFactors #RiskAssets #EmploymentReport #NonFarmPayroll #InterestRateCuts #LaborMarket #OctoberRise
According to Odaily, QCP Capital's analysis suggests that the current weakness in the cryptocurrency market is temporary, given its strong correlation with US stocks. As the US stock market recovers, cryptocurrencies are likely to follow suit. This correlation highlights that macroeconomic factors are currently the primary drivers of risk asset prices.
The ADP employment report exceeded expectations, making tomorrow's non-farm payroll report crucial for confirming the strength of the US labor market. The combination of expected interest rate cuts and robust labor market strength could boost risk assets. Despite the Middle East tensions affecting Bitcoin during a historically strong month, this decline is seen as temporary, with an anticipated 'October rise' rebound expected to prevail.#Cryptocurrency #MarketRecovery #USStockMarket #QCPCapital #MacroeconomicFactors #RiskAssets #EmploymentReport #NonFarmPayroll #InterestRateCuts #LaborMarket #OctoberRise
🚀 Traders Anticipate Significant Price Swings For Ether Amid US Election
#Traders #Ether #ETH #Bitcoin #BTC #PriceSwings #Volatility #USElection #DeFi #RegulatoryScrutiny #Crypto #MarketExpectations #DigitalAssets
According to Cointelegraph, traders are expecting more substantial price fluctuations for Ether (ETH) compared to Bitcoin (BTC) due to upcoming macroeconomic events. Derive founder Nick Forster noted in an Oct. 2 analyst report that Ether's forward volatility is projected to spike between Oct. 25 and Nov. 8, coinciding with the United States presidential election on Nov. 5.
Forster emphasized that the US election could significantly impact ETH prices, particularly because of its connections to the decentralized finance (DeFi) ecosystem, which might face regulatory scrutiny depending on the elected president's stance on crypto. Derive data indicates a 68% chance of a price swing between -14% and +16% within three days after the election, with a 95% chance of a move ranging from -26% to +35%.
At the time of publication, ETH forward volatility stands at 76.6%, while BTC is at 69.8%. This suggests that traders expect significant movement during this period, with ETH appearing more sensitive to external events. Forster explained that traders seem more confident in Bitcoin's ability to withstand macro events, likely due to its established position as a digital store of value and its relatively less direct exposure to regulatory concerns compared to Ethereum.
With broader ecosystem concerns hinging on the US election outcome, traders are pricing in more extreme movements for ETH. Forster added that this data reflects traders' expectations for increased uncertainty as the election approaches. Currently, Ether is trading at $2,364, down 5.93% since Oct. 2. Despite the much-anticipated Ether ETF launch in July, the historical debut has not bolstered Ether's price.#Traders #Ether #ETH #Bitcoin #BTC #PriceSwings #Volatility #USElection #DeFi #RegulatoryScrutiny #Crypto #MarketExpectations #DigitalAssets
🚀 US Initial Jobless Claims Slightly Higher Than Expected
#JoblessClaims #USEconomy #Unemployment #LaborMarket #EconomicData
According to Odaily, the number of initial jobless claims in the United States for the week ending September 28 reached 225,000, slightly above the expected 220,000. The previous week's figure was revised from 218,000 to 219,000.
The four-week moving average of initial jobless claims for the same period was 224,250, a slight decrease from the previous week's revised average of 225,000, which was initially reported as 224,750.
Continuing jobless claims for the week ending September 21 stood at 1.826 million, lower than the anticipated 1.832 million. The previous week's figure was revised down from 1.834 million to 1.827 million.#JoblessClaims #USEconomy #Unemployment #LaborMarket #EconomicData
🚀 Tokenized Money Market Funds Gain Approval For Trading
#TokenizedMoneyMarketFunds #BlackRock #FranklinTempleton #CFTC #Trading #FinancialInnovation #MarketRegulations
According to Odaily, companies like BlackRock and Franklin Templeton may soon see their tokenized money market fund shares being used for trading. This development follows the approval of guidelines for the use of tokenized money market funds by a key group supported by the U.S. Commodity Futures Trading Commission (CFTC). Sources indicate that a subcommittee of the CFTC's Global Markets Advisory Committee voted to submit these recommendations to the full committee. The full committee is expected to vote on these recommendations later this year. While the report did not disclose specific recommendations, the act of sending the suggestions to the full committee is seen as a significant step forward.#TokenizedMoneyMarketFunds #BlackRock #FranklinTempleton #CFTC #Trading #FinancialInnovation #MarketRegulations
🚀 Visa Unveils New Tokenized Asset Platform
#Visa #TokenizedAssets #VTAP #DigitalAssets #Stablecoins #CBDCs #Blockchain #InstitutionalInvestors #CentralBanks #Ethereum
According to Cointelegraph, Visa has introduced its Visa Tokenized Asset Platform (VTAP), a service designed to facilitate the issuance and management of fiat-backed tokens. Announced on October 3, the platform aims to support a variety of tokenized assets, including stablecoins and central bank digital currencies (CBDCs).
Visa's VTAP is tailored for both institutional investors and central banks, providing a comprehensive infrastructure for the secure minting, transfer, and settlement of digital assets across both public and permissioned blockchains. Vanessa Colella, Visa's global head of innovation and digital partnerships, expressed enthusiasm about the initiative, stating, "We're excited to leverage our experience with tokenization to help banks integrate blockchain technologies into their operations."
Currently, VTAP is in a sandbox phase, with institutions like Banco Bilbao Vizcaya Argentaria (BBVA) testing its core functionalities. The platform is expected to enter a live pilot phase with select customers in 2025, utilizing the public Ethereum blockchain. This story is still developing, and more details will be provided as they become available.#Visa #TokenizedAssets #VTAP #DigitalAssets #Stablecoins #CBDCs #Blockchain #InstitutionalInvestors #CentralBanks #Ethereum
🚀 Telegram Experiences Major Outages Affecting Multiple Countries
#Telegram #Outage #Crypto #MessagingApp #ServerIssues #Ukraine #Belarus #Poland #Kazakhstan #Russia #Netherlands #Germany #PavelDurov #IPaddresses
According to Cointelegraph, cryptocurrency-friendly messaging platform Telegram is experiencing significant outages, with numerous users reporting difficulties accessing content on the app. Data from Downdetector indicates that hundreds of users began reporting server connection issues around 10:30 am UTC on October 3. The most common problems included sending and receiving messages and other connection-related issues within the app.
Outage.Report noted on X that Telegram has been down since 10:22 am UTC, affecting users in countries such as Ukraine, Belarus, Poland, Kazakhstan, Russia, Netherlands, and Germany. This recent outage follows a smaller disruption detected on October 2, as per Downdetector's information.
The outages coincide with Telegram CEO Pavel Durov's recent disclosure that the platform has been sharing the IP addresses of criminals with authorities since 2018. Durov is currently under investigation in France, facing six charges related to illicit activities on the messaging platform, with French prosecutors indicting him on August 28.
This is a developing story, and further updates will be provided as more information becomes available.#Telegram #Outage #Crypto #MessagingApp #ServerIssues #Ukraine #Belarus #Poland #Kazakhstan #Russia #Netherlands #Germany #PavelDurov #IPaddresses
🚀 Grayscale Plans To Launch Aave Trust Fund
#Grayscale #AaveTrust #Investors #AaveProtocol #TraditionalFinance
According to PANews, Grayscale is set to introduce the Grayscale Aave Trust, a new fund aimed at providing investors with exposure to the Aave protocol. Rayhaneh Sharif-Askary, Grayscale's Head of Products and Research, highlighted that this product offers investors a chance to engage with a protocol that has the potential to transform traditional finance.#Grayscale #AaveTrust #Investors #AaveProtocol #TraditionalFinance
🚀 US Initial Jobless Claims Data Causes Brief Dollar Index Fluctuation
#US #JoblessClaims #DollarIndex #DXY #MarketFluctuation
According to Odaily, the release of the US initial jobless claims data led to a brief fluctuation of over 10 points in the Dollar Index (DXY). The index is currently reported at 101.87.#US #JoblessClaims #DollarIndex #DXY #MarketFluctuation
🚀 Elon Musk's X Account Reaches 200 Million Followers
#ElonMusk #XAccount #200MillionFollowers #SocialMediaInfluence #Technology #Finance
According to PANews, data disclosed by Watcher.Guru on the X platform reveals that Elon Musk's X account has reached 200 million followers. This milestone highlights Musk's significant influence and popularity on social media. The increase in followers underscores the public's keen interest in his activities and statements, which often have substantial impacts on various industries, including technology and finance.#ElonMusk #XAccount #200MillionFollowers #SocialMediaInfluence #Technology #Finance
🚀 Transak Secures Money Transmitter License In Alabama
#Transak #MoneyTransmitterLicense #Alabama #Cryptocurrency #Web3 #PaymentsInfrastructure #CryptoServices #FinancialCrimesEnforcementNetwork #DApps #FiatToCrypto #WireTransfers #CryptoAdoption #USRegulations
According to Cointelegraph, Transak, a Web3 payments infrastructure provider, has obtained its first Money Transmitter License (MTL) from the Alabama Securities Commission. This new license allows Transak to legally facilitate cryptocurrency transactions in Alabama, marking a significant milestone in the company's expansion into the United States.
Transak is already licensed to operate legally in nearly 46 states, and the Alabama license further strengthens its position. However, the company still requires additional licenses to fully serve all US users. As a registered Money Service Business with the Financial Crimes Enforcement Network (FinCEN), Transak must obtain state-level licenses to offer its services to US residents. Given the complexity and variance in state laws, achieving complete US coverage will take time.
The new license will enable Transak to offer improved crypto services to Alabama residents, including faster transactions and enhanced request fulfillment. The regulatory compliance requirements in the US are becoming increasingly stringent, and this latest license helps Transak meet those growing demands. Decentralized applications (DApps) integrated with Transak’s services will benefit states like Alabama, but users in states without licenses may have to wait for improvements.
On August 6, Transak became the first fiat-to-crypto on-ramp to introduce wire transfers for crypto for US users. Sami Start, the co-founder and CEO of Transak, stated that adding this familiar and secure payment method is a step forward for adopting crypto. Start also mentioned that rapid growth is expected as users become more comfortable using crypto for everyday transactions, with wire transfers pushing toward that goal.#Transak #MoneyTransmitterLicense #Alabama #Cryptocurrency #Web3 #PaymentsInfrastructure #CryptoServices #FinancialCrimesEnforcementNetwork #DApps #FiatToCrypto #WireTransfers #CryptoAdoption #USRegulations
🚀 Credbull Launches $500 Million Fixed Income Credit Fund Tool LiquidStone
#Credbull #LiquidStone #fixedincome #creditfund #RWA #PlumeNetwork #decentralizedfinance
According to Odaily, decentralized private credit platform Credbull is introducing a new fixed income credit fund tool named LiquidStone. The fund has a substantial scale of $500 million and is being launched on the RWA blockchain Plume Network.#Credbull #LiquidStone #fixedincome #creditfund #RWA #PlumeNetwork #decentralizedfinance
🚀 BNB Chain's Cheems Project Supports Animal Welfare With Beanie Giveaway
#BNBChain #Cheems #AnimalWelfare #BeanieGiveaway #CryptoCommunity #MemeProject
According to BlockBeats, on October 3, the BNB Chain ecosystem's Meme project, Cheems, announced a special initiative to commemorate Cheems (also known as Cheems or Ball Ball) and support animal welfare. The project has ordered 1,000 Cheems Beanies from the official Cheems merchandise store to be given away to Cheems holders and donors.
Participants are required to complete specific social tasks and submit proof of Cheems ownership to qualify for the giveaway. The event will last for 48 hours.#BNBChain #Cheems #AnimalWelfare #BeanieGiveaway #CryptoCommunity #MemeProject
🚀 Bitcoin(BTC) Drops Below 60,000 USDT with a 1.55% Decrease in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #decrease
On Oct 03, 2024, 13:18 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 60,000 USDT and is now trading at 59,866 USDT, with a narrowed 1.55% decrease in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #decrease
🚀 Riot Platforms Reports 28% Increase In Bitcoin Production For September 2024
#RiotPlatforms #Bitcoin #BitcoinMining #Cryptocurrency #MiningProduction #September2024 #Investment #BitcoinGrowth #BTC
According to Odaily, Bitcoin mining company Riot Platforms has released its unaudited production and operations update for September 2024. The report reveals that the company mined 412 Bitcoins in September, marking a 28% increase compared to August's production. In the same period last year, Riot Platforms mined 362 Bitcoins.
Riot Platforms also announced ongoing expansions of its mining facilities. Upon completion, the company expects its total Bitcoin mining capacity to reach 1 gigawatt.#RiotPlatforms #Bitcoin #BitcoinMining #Cryptocurrency #MiningProduction #September2024 #Investment #BitcoinGrowth #BTC
🚀 BlackRock IBIT Pre-Market Trading Volume Reaches $19 Million
#BlackRock #IBIT #PreMarketTrading #TradingVolume #MarketData
According to Odaily, data disclosed by Trader T reveals that BlackRock's IBIT pre-market trading volume today reached $19 million. Of this total, 37% were active buy orders, while 28% were active sell orders.#BlackRock #IBIT #PreMarketTrading #TradingVolume #MarketData