Articles by Industry News

Hong Kong Expands Cross-Border Digital Yuan Trial with E-CNY Wallets for Residents
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Hong Kong Expands Cross-Border Digital Yuan Trial with E-CNY Wallets for Residents

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have expanded their cross-border digital yuan pilot, allowing Hong Kong residents to use e-CNY wallets. This initiative aims to facilitate retail payments without enabling person-to-person transfers. The digital yuan, or e-CNY, is China’s central bank digital currency (CBDC), which has been in...

Spot Bitcoin ETFs reach $303M in Net Inflows
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Spot Bitcoin ETFs reach $303M in Net Inflows

US spot Bitcoin ETFs attracted a combined $303 million in net inflows on May 15, signaling growing institutional interest in Bitcoin. Leading this surge was Fidelity’s ETF, which secured $131 million in net inflows, according to SoSo Value data. Bitwise and Grayscale followed with $86.26 million and $27.05 million, respectively. Surprisingly, the iShares Bitcoin Trust...

Bitcoin Surpasses $66,000 amid CPI Data Release
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Bitcoin Surpasses $66,000 amid CPI Data Release

Bitcoin (BTC) has surged over 6%, surpassing $66,000 following the release of the US Consumer Price Index (CPI) data on May 15. Currently, BTC is trading at $65,780 with a market cap of $1.295 trillion. This price increase is seen as a significant breakout above the $64,000 resistance level, potentially setting the stage for further...

OKX Launches Full Crypto Trading Services in Australia
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OKX Launches Full Crypto Trading Services in Australia

OKX, a major cryptocurrency exchange, has announced the launch of its comprehensive trading services in Australia through a locally regulated entity. This strategic move aims to expand OKX’s presence in the Asia-Pacific region and tap into Australia’s advanced and diverse investor base. At a media event in Sydney on May 14, Oscar Piastri, a McLaren...

Congress Advances FIT21 Bill to Clarify Crypto Regulations
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Congress Advances FIT21 Bill to Clarify Crypto Regulations

The United States House Financial Services Committee is advancing the Financial Innovation and Technology to the 21st Century Act, or FIT21, which aims to clarify the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in digital asset regulation. The bill, initially proposed in July 2023, will soon be...

German State-Owned Bank to Launch Blockchain-Based Digital Bonds
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German State-Owned Bank to Launch Blockchain-Based Digital Bonds

The German state-owned bank, Kreditanstalt für Wiederaufbau (KfW), has announced its plans to issue its first blockchain-based digital bonds by summer 2024. These bonds will be managed using blockchain technology to ensure secure and transparent transactions and are classified as crypto securities under the German Electronic Securities Act (eWpG). KfW has partnered with major financial...

Binance to Remove BIDR Support Across Multiple Services
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Binance to Remove BIDR Support Across Multiple Services

Binance, a leading cryptocurrency exchange, has announced the delisting of trade pairs involving the stablecoin backed by the Indonesian Rupiah (BIDR). This change will impact trading pairs for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) across various services offered by the exchange. The exchange has outlined a detailed action plan with specific deadlines for the...

EU’s New Anti-Money Laundering Rules to Impact Crypto Sector
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EU’s New Anti-Money Laundering Rules to Impact Crypto Sector

The European Union (EU) has adopted stringent anti-money laundering regulations for crypto firms, including exchanges and asset managers. The new rules, part of the Markets in Crypto-Assets (MiCA) regulations, are set to be enforced by the end of the year and will be overseen by Frankfurt’s newly established Office of Anti-Money Laundering and Combating Financial...

SEC Sues Bitcoin Miner Geosyn for $5.6M Fraud
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SEC Sues Bitcoin Miner Geosyn for $5.6M Fraud

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Geosyn Mining and its founders, Caleb Joseph Ward and Jeremy George McNutt, for defrauding investors of $5.6 million. The SEC alleges that the company misrepresented its crypto-mining operations, falsely claiming to have cheap electricity contracts and failing to purchase the mining equipment promised...

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