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FameEX Morning Crypto News Recap | October 25, 2024

2024-10-25 15:48:55

IMF: Fed Rate Cuts May Enable Asian Central Banks to Reduce Rates

IMF officials indicated that as the Federal Reserve reduces interest rates, most Asian central banks will have the opportunity to lower their rates too. This eases concerns among regional policymakers that early rate cuts might weaken their currencies, providing greater flexibility in monetary policy.


BlackRock Cautions Markets Could Be Underestimating Disputed U.S. Election Risk

On October 24, Jean Boivin of BlackRock Investment Institute cautioned that markets are underestimating the risk of U.S. presidential candidates contesting election results, which could lead to weeks of legal turmoil affecting risk assets. While stocks hover near record highs, Treasuries have experienced a sell-off due to these concerns.


Crypto Market Liquidations Reach $261 Million on October 23, Dominated by ETH

On October 23, crypto market liquidations reached $261 million, with long positions making up over $203.5 million, the second-highest after October 1's $450.8 million. ETH led the liquidations with $77 million, followed by BTC at $58.3 million over the past 24 hours.


Microsoft Shareholders to Decide on Adding Bitcoin to Balance Sheet

U.S. securities regulator documents show Microsoft shareholders will vote on December 10 on a proposal to add Bitcoin to the company's balance sheet. The proposal, from the National Center for Public Policy Research, notes that MicroStrategy's Bitcoin investment strategy has outperformed Microsoft's by over 300% this year, despite being a much smaller company.


South Korea's Financial Services Commission Seeks Legislation on Virtual Asset Exchange Shareholder Qualifications

South Korea’s Financial Services Commission (FSC) is pushing for legislation to establish qualifications and governance rules for major shareholders of virtual asset exchanges. FSC Chairman Kim Byoung-hwan confirmed during a parliamentary audit that amendments to the Specified Financial Transaction Information Reporting and Use Act have been submitted to grant the FSC authority to evaluate shareholder qualifications.


Denmark Plans 42% Tax on Unrealized Capital Gains from Cryptocurrencies

Denmark will implement a 42% tax on unrealized crypto capital gains starting January 1, 2026, becoming the first country to do so. The Danish Tax Law Committee suggests the tax will apply to assets like Bitcoin, not backed by physical assets or legal currencies, aiming to incorporate cryptocurrencies into the existing financial tax system.


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

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