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Hong Kong Set to Launch Crypto ETFs, Eyeing Status as Global Digital Asset Hub

Hong Kong Set to Launch Crypto ETFs, Eyeing Status as Global Digital Asset Hub

Hong Kong is poised to strengthen its position as a leading global hub for digital assets by launching several cryptocurrency exchange-traded funds (ETFs), including those based on Bitcoin and Ether. This initiative comes as the region seeks to revitalize its reputation as a top financial center. Leading Chinese fund managers are in the final stages of setting up spot Bitcoin...

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    Bitcoin Transaction Fees Stabilize After Surging Post-Halving

    Bitcoin Transaction Fees Stabilize After Surging Post-Halving

    In a significant turn of events, Bitcoin transaction fees have plummeted from a staggering $146 to just over $10 for medium-priority transactions, following the recent halving event that typically influences both transaction costs and miner earnings. Just last week, Bitcoin users experienced a sharp increase in transaction fees, with medium-priority transactions costing upwards of $146 and high-priority transactions peaking at...

    Potential Supreme Court Showdown for XRP Lawsuit, Former SEC Crypto Chief Suggests

    Potential Supreme Court Showdown for XRP Lawsuit, Former SEC Crypto Chief Suggests

    The ongoing legal battle involving Ripple Labs and the U.S. Securities and Exchange Commission (SEC) over whether XRP should be classified as a security continues to captivate public interest, with the possibility of escalating to the U.S. Supreme Court. Ladan Stewart, former head of the SEC’s crypto litigation unit, discussed this potential at a panel at Columbia Business School, emphasizing...

    New U.S. Legislation Proposed to Regulate Stablecoins

    New U.S. Legislation Proposed to Regulate Stablecoins

    Senators Kirsten Gillibrand of New York and Cynthia Lummis of Wyoming have introduced new legislation aimed at regulating the stablecoin market. The bill, known as the Lummis-Gillibrand Payment Stablecoin Act, was reported by Bloomberg on Wednesday, April 17. It seeks to establish clear regulations for payment stablecoins, which are dollar-pegged digital assets used for transaction settlements. Under the proposed legislation,...

    Germany’s LBBW Bank to Launch Crypto Custody Services with Bitpanda

    Germany’s LBBW Bank to Launch Crypto Custody Services with Bitpanda

    Landesbank Baden-Württemberg (LBBW), Germany’s largest federal bank, has announced its plans to launch crypto custody services, tapping into the increasing demand from its corporate and institutional clients. This move underscores a significant pivot towards integrating cryptocurrencies within traditional banking frameworks. In collaboration with Austrian-based Bitpanda, LBBW aims to introduce an “investment-as-a-service” infrastructure that will support the storage and trading of...

    Hong Kong Set to Approve First Bitcoin and Ethereum ETFs

    Hong Kong Set to Approve First Bitcoin and Ethereum ETFs

    Hong Kong regulators are reportedly on the brink of approving the first Bitcoin and Ethereum exchange-traded funds (ETFs) in Asia, with an announcement expected by April 15. This pioneering move could position Hong Kong as the inaugural Asian market with operational Bitcoin and Ethereum ETFs. Sources close to Bloomberg suggest that an international branch of China’s Harvest Fund Management Co.,...

    Bitcoin Slumps as March US CPI Data Surpasses Expectations

    Bitcoin Slumps as March US CPI Data Surpasses Expectations

    Bitcoin prices tumbled following the release of the U.S. Consumer Price Index (CPI) data for March, which revealed a hotter-than-expected inflation rate of 3.5%. This figure exceeded the forecasts of 3.4% and outpaced the previous month’s rate of 3.2%, signaling persistent inflationary pressures in the economy. The data, issued by the U.S. Bureau of Labor Statistics, has injected fresh uncertainty...

    China Fund Eyes Q2 for Launch of Hong Kong’s First Spot Bitcoin ETF

    China Fund Eyes Q2 for Launch of Hong Kong’s First Spot Bitcoin ETF

    In a bold stride towards embracing cryptocurrency, the Hong Kong subsidiaries of leading fund companies, including Southern Fund and Harvest Fund, are spearheading the development of Bitcoin exchange-traded funds (ETFs). A recent report highlights the submission of a spot Bitcoin ETF application to the Hong Kong Securities Regulatory Commission by Harvest Fund, marking a significant move towards tapping into the...

    Bitcoin Surges 2% Amid Anticipation of Interest Rate Cuts

    Bitcoin Surges 2% Amid Anticipation of Interest Rate Cuts

    In a remarkable rebound, Bitcoin’s value soared to $67,510 on April 4th, marking a 2% increase following positive remarks from the US Federal Reserve about potential interest rate easing. This uptick aligns with the optimistic opening of Wall Street, contrasting with a dip in gold prices after they crossed the $2,300 threshold. Jerome Powell, the Federal Reserve Chair, hinted at...

    Tether Boosts Bitcoin Holdings with $618 Million Purchase

    Tether Boosts Bitcoin Holdings with $618 Million Purchase

    Tether, the entity behind the widely-used USDT stablecoin, has significantly increased its Bitcoin investment, purchasing 8,888 BTC valued at $618 million on March 31. This strategic acquisition escalates Tether’s Bitcoin reserves to more than 75,000 BTC, equivalent to around $5.2 billion, positioning Tether as the seventh largest Bitcoin holder globally. This move underscores Tether’s commitment to diversifying the assets backing...

    Robert Kiyosaki Recommends Shifting from Dollars to Bitcoin Amid Financial Concerns

    Robert Kiyosaki Recommends Shifting from Dollars to Bitcoin Amid Financial Concerns

    Renowned “Rich Dad Poor Dad” author and prominent Bitcoin advocate, Robert Kiyosaki, has recently advised traders to abandon the US dollar in favor of Bitcoin, gold, and silver. Highlighting concerns over the stability of traditional paper assets, Kiyosaki expressed his skepticism towards financial instruments susceptible to inflation through printing. This guidance comes amidst growing worries about the financial well-being of...

    Bitcoin Mining Firm Stronghold Digital Mining Faces Environmental Lawsuit

    Bitcoin Mining Firm Stronghold Digital Mining Faces Environmental Lawsuit

    In Pennsylvania, Save Carbon County, a community group, has filed a lawsuit against the Bitcoin mining company, Stronghold Digital Mining. The lawsuit alleges that Stronghold contributes to environmental pollution by utilizing old coal refuse and tires as energy sources for its mining operations. Accusations include the release of mercury and the pollution of waterways, prompting calls for compensation for victims,...

    UAE Central Bank Initiates Digital Dirham Strategy

    UAE Central Bank Initiates Digital Dirham Strategy

    The Central Bank of the United Arab Emirates (CBUAE) has officially begun the first phase of its central bank digital currency (CBDC) strategy, aiming to integrate a digital dirham into both retail and wholesale markets. This ambitious move is part of the broader Financial Infrastructure Transformation Programme, which seeks to bolster the efficiency of payment systems and foster financial inclusion...

    CommEX, Binance’s Former Russian Branch, Announces Closure

    CommEX, Binance’s Former Russian Branch, Announces Closure

    CommEX, the cryptocurrency exchange that acquired Binance’s operations in Russia last year, has announced its decision to shut down its website by May 10. This announcement was made through a blog post on Monday, where the exchange outlined its phased closure process. Effective immediately, CommEX has stopped registering new users and has ceased asset transfers from the Binance platform. Additionally,...