FameEX Morning Crypto News Recap | December 20, 2023

Grayscale CEO Predicts Spot Bitcoin ETFs Set to Access $30 Trillion Market

Grayscale Investments anticipates that the U.S. SEC's potential approval of spot bitcoin ETFs will enable the $30 trillion advised wealth market to access bitcoin investments. The firm's CEO expressed optimism about the market, noting an increasing trend of investors incorporating bitcoin into their portfolios.

China's Present Economic Hurdles Mirror Historical Economic Difficulties of Japan

Experts stress the importance of China learning from Japan's extended economic stagnation, urging a shift from dependence on manufacturing and investment to enhancing domestic consumption. They draw parallels between Japan's economic situation in the 1980s and China's current state, analyzing the similarities and potential lessons to be gleaned from these comparable economic paths.

Brazil's Central Bank Launches Public Consultation on Regulations for Virtual Asset Service Providers

The Central Bank of Brazil has initiated a public consultation to gather opinions on regulating virtual assets service providers (VASPs) in the nation. This consultation includes a detailed questionnaire with 38 questions, covering various themes. Participants have the option to respond partially or completely to these questions until January 31, 2024.

IOSCO Global Securities Organization Publishes Recommendations for DeFi

On December 19, the International Organization of Securities Commissions (IOSCO) unveiled nine policy recommendations to promote uniform regulatory oversight both domestically and internationally. Accompanying these, Rule 7's guidance details various strategies that participants in decentralized finance (DeFi) or other markets might employ to bypass regulatory measures.

UK Economic Secretary to Address Cryptocurrency Firms' Banking Access

Jeremy Hunt, the UK's Chancellor of the Exchequer, has stated that Economic Secretary Bim Afolami is willing to meet and discuss matters related to digital assets in the country. Afolami is open to discussions with the Crypto and Digital Assets All-Party Parliamentary Group, signaling the government's willingness to engage in dialogue on cryptocurrency-related issues.