Author: Coindesk
In a published note, Lynn Song, Chief Economist for Greater China at ING, wrote that today’s policy package is expected to weaken the yuan slightly, with the USD-CNY exchange rate rising in response to the PBoC’s easing measures. However, medium-term factors like interest rate spreads suggest a gradual appreciation trend for the CNY. Read the full article here
“Their understanding of what the industry and crypto investors alike need from a Harris administration, should one come to pass, is growing in sophistication and depth,” Grewal said, though the actual policy choices may not be seen for a while. “Sometimes things just take a little bit longer than any of us might like,” he said. Read the full article here
Following the FOMC decision, several key macro assets have reacted positively. The U.S. Dollar Index (DXY) rose by 0.36%, pushing the index back above 101, a level widely regarded as vital. Meanwhile, the USD/JPY exchange rate, which had dropped to around 141 just before the Fed’s announcement, has since climbed to approximately 143.5. The weakening yen has further bolstered risk-on assets, including cryptocurrencies. Read the full article here
The startup’s runaway success this year has been a sore point for Kalshi, a regulated, dollar-denominated prediction market that’s been fighting a protracted court battle with its supervisor, the U.S. Commodity Futures Trading Commission, so it can list contracts on which party will control each house of Congress. The agency has been considering a proposed rule that would ban election event contracts at all the exchanges on its watch, which would push regulation of such activity to the states. Read the full article here
Transactions with JPM Coin have “exploded” after introducing programmability to the network, with transactions reaching multiple billions of U.S. dollars on some days, Umar Farooq, former head of Onyx by JP Morgan, currently co-head of Payments, said in May during a panel discussion at Consensus 2024. Read the full article here
The crypto derivatives trading hub faces CFTC charges for allegedly failing to register as a commodities exchange, for illegally offering services to U.S. customers and failing to check its customers’ identities, according to statements in its Discord server and a proposal on its governance page. The DEX allows users to trade perpetual futures contracts. Read the full article here
Politicians as different as Senate Majority Leader Chuck Schumer and former President Trump have come around to this view in recent years. After initially spurning the industry, Trump gave a pro-crypto keynote speech at this summer’s Bitcoin Conference in Nashville. In his remarks, Trump likened Bitcoin to “the steel industry of a hundred years ago” and said that “If crypto is going to define the future, I want it to be mined, minted, and made in the USA.” Last week, he even bought a burger with crypto at Pubkey, a “Bitcoin bar” in NYC. Read the full article here
After his arrest, the Russian-born promised changes and said that “establishing the right balance between privacy and security is not easy,” in a post on the app. Earlier this month, Telegram blocked users from uploading new media in an effort to stop bots and scammers. Read the full article here
“When Celestia launched last year as the first modular data availability layer, it scaled blockspace from the dial-up era to the broadband era,” said Mustafa Al-Bassam, co-founder of Celestia, in a blog post shared with CoinDesk. “Now, the core developers have introduced the technical roadmap to scale blockspace to the fiber optic era – while keeping it verifiable and low latency.” Read the full article here
The bank’s subsidiary in the country received a license allowing it to offer regulated digital assets services, including brokerage, custody and banking under Liechtenstein’s Token and Trusted Technology Service Providers Act. That will enable Sygnum to apply for a crypto-asset service provider (CASP) license under MiCA after Liechtenstein adopts the regulation, planned for first-quarter 2025. Read the full article here