FameEX Morning Crypto News Recap | June 11, 2024

Ethereum Spot ETF Issuers Anticipate SEC Feedback

Two sources revealed that Ethereum spot ETF issuers are awaiting SEC comments after submitting initial S-1 form drafts on May 31. They expect a response this week. SEC Chairman Gary Gensler stated that approving the S-1 forms will "take some time," with at least two more rounds of drafts anticipated before finalization.

Paraguay Utilizes Surplus Hydropower to Draw Bitcoin Miners in New Economic Strategy

Paraguay plans to sell its excess hydropower to Bitcoin miners as part of a new economic strategy. The Itaipu Hydroelectric Power Station, one of the world's largest, currently uses only 20% of its capacity. This initiative seeks to maximize the station's output and attract cryptocurrency mining operations.

Bank of Japan Likely to Raise Rates in July; This Week's Meeting May Provide Clues

Ataru Okumura, senior interest rate strategist at SMBC Nikko Securities, suggests that if the Bank of Japan plans a July rate hike, hints may be given at this week's meeting. The Bank aims to avoid market chaos. In January, it indicated increasing prospects for rate hikes, hinting at an early possibility.

South Korean Financial Institutions Introduce New Guidelines to Include NFTs in Virtual Asset User Protection Law

South Korea's Financial Services Commission and Financial Supervisory Service announced new guidelines to include NFTs in the upcoming Virtual Asset User Protection Act. Previously not classified as virtual assets, NFTs may now be considered as such under the new law, recognizing their similar characteristics.

Almost 50% of New Zealanders Own or Are Considering Cryptocurrency Investments

A study by Protocol Theory shows that nearly 50% of New Zealanders own or are considering investing in cryptocurrencies. While 16% might invest a small amount in real estate, almost 60% prefer cryptocurrencies. Additionally, 26% believe cryptocurrencies promote equality.

ECB's Nagel: It’s Not Yet Time for Comprehensive Rate Cuts

ECB Governing Council member Nagel stressed the importance of caution in future interest rate changes. He noted that current rates are at a critical juncture, not their peak, indicating that it is not yet time for comprehensive interest rate cuts.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​