FameEX Morning Crypto News Recap | October 15, 2024

Harris Unveils Lending Plan and Endorses Crypto Regulatory Framework

U.S. Vice President Harris unveiled a plan to provide 1 million loans, with up to $20,000 in forgiveness, to black entrepreneurs and others facing financing barriers. She also committed to supporting a cryptocurrency regulatory framework to enhance investment certainty for the 20% of black Americans involved in digital assets.

Market Projected to Grow 565.4% in Q3 2024, Fueled by U.S. Presidential Election

An Oct. 14 CoinGecko report revealed that prediction market betting volume skyrocketed by 565.4% to $3.1 billion in Q3, largely fueled by bets on the upcoming U.S. presidential election. Elon Musk suggested decentralized prediction markets could predict the 2024 election outcome more accurately than traditional polls, potentially impacting cryptocurrency regulations.

Google Stops Displaying Bitcoin and Cryptocurrency Price Charts in Search Results

Google Search has stopped displaying price charts for Bitcoin and other cryptocurrencies in its results, though users can still access them through Google Finance. Over the weekend, users noticed that Bitcoin price searches no longer showed charts, unlike stock price searches.

Tether Considers Supporting Commodity Trading with USDT Loans

Tether is discussing USDT-based lending with companies, aiming to expand its role in mainstream commodity trading. In countries like Venezuela and Russia, USDT has been used to bypass sanctions. Unlike traditional loans, Tether's financing operates with fewer regulatory constraints, potentially speeding up payments and transactions for commodity trading firms reliant on credit lines.

South Korea Forms Virtual Asset Committee to Explore Bitcoin and Ethereum Spot ETFs

South Korea's Virtual Asset Committee, launching this month under the Financial Services Commission, is expected to accelerate discussions on Bitcoin and Ethereum spot ETFs. The committee will also explore corporate investments in virtual assets, reflecting heightened regulatory focus on the industry.

India's Central Bank Cautions Against AI's Risks to Financial Stability

The Reserve Bank of India (RBI) has voiced concerns about AI's potential risks to financial stability. Governor Shaktikanta Das noted at a New Delhi event that AI and machine learning in financial services could lead to increased cyber attacks, data leaks, and challenges in auditing complex AI algorithms, further exposing vulnerabilities in the financial sector.

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