FameEX Morning Crypto News Recap | October 28, 2024

Former SEC Attorney Explores Challenges in Crypto Industry's Regulatory Collaboration

Former SEC lawyer Ladan Stewart, in a discussion reported by Fox Business's Eleanor Terrett on X, highlighted the ongoing tension between the crypto industry and regulators. Stewart pointed out that although many in the crypto sector wish to cooperate with regulators, they feel hindered by the SEC and Biden administration's leaders, who are seen as barriers to regulatory clarity and industry development.

Trump Proposes Bitcoin Strategy to Wipe Out $35 Trillion National Debt and Abolish Federal Income Tax

On the Joe Rogan Experience, former President Trump revealed he once considered replacing the US federal income tax with import tariffs. Additionally, he proposed using Bitcoin to eliminate the $35 trillion national debt. In an interview with Fox News’ Maria Bartiromo, Trump suggested that the U.S. could manage its debt by "giving them a little Bitcoin."

Bitcoin ETFs Attract Traditional Financial Institutions, Boosting Capital Flows and Demand

Over the last four years, BlackRock IBIT has seen the highest capital inflows among 1,800 newly launched ETFs. Bloomberg's ETF analyst James Seyffart notes the surge is due to a long-standing interest in Bitcoin investments, which lacked a secure and easy avenue before the ETF's approval. With the ETF now trading, this accumulated demand is quickly being absorbed into the market.

Tether CEO Announces Company Holds 82,454 BTC

On October 27, Bitcoin Magazine on X platform reported that Tether CEO Paolo Ardoino disclosed the company possesses 82,454 BTC, with an estimated value of around US$5.55 billion.

Hong Kong SFC Teams Up with Asia-Pacific Regulators to Regulate Crypto Assets and AI

On October 27, representatives from the Hong Kong Securities and Futures Commission met with officials from 12 Asia-Pacific securities market regulators to discuss regulatory approaches for crypto assets, tokenization, and artificial intelligence.

Bitcoin Policy Institute Advocates for Central Banks to Include Bitcoin as a Reserve Asset

The Bitcoin Policy Institute's recent paper, "The Case for Bitcoin as a Reserve Asset," advises central banks to adopt Bitcoin as a reserve asset. It suggests that Bitcoin can serve as a hedge against inflation, geopolitical risks, capital controls, sovereign defaults, bank failures, and international sanctions.

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