FameEX Morning Crypto News Recap | April 11, 2024

Legislator Spotlights Two Proposals to Position US as Cryptocurrency Leader, Declares Bitcoin 'Unstoppable'

Congressman Patrick McHenry describes bitcoin as "unstoppable," highlighting its resilience against attempts by various regimes to shut it down. He advocates for the U.S. to lead in digital assets, pointing to two congressional bills as a means to establish clear cryptocurrency regulations.

Uniswap Labs Gets SEC Wells Notice; Founder Promises Strong Defense

Hayden Adams, founder of Uniswap Labs, recently disclosed via social media that the SEC has issued the company a Wells notice. Adams expressed both his disappointment with this development and his firm determination to contest the SEC's notice, indicating a potential legal standoff.

Former FTX Executive Ryan Salame to Receive Sentencing in Late May by Judge

Judicial documents reveal that Ryan Salame, former co-chief executive of FTX Digital Markets, is set for sentencing by Judge Lewis Kaplan. Salame admitted to running an unlicensed money transmission service and making illegal political contributions. His case highlights significant legal breaches within the cryptocurrency sector.

BIS Report Warns That Inconsistent Regulation May Compromise Stablecoin Functionality

A Bank for International Settlements (BIS) survey across 11 jurisdictions reveals that the potential of stablecoins is compromised by fragmented international regulations. The report emphasizes the "urgent" need for coherent stablecoin regulation, cautioning that varying regulatory approaches could jeopardize their assimilation into the global financial system.

Hong Kong Authority Accelerates Approval Process for Bitcoin Spot ETFs

The Securities Regulatory Commission of Hong Kong (SFC) is fast-tracking the approval of four spot Bitcoin ETFs, aiming for the first batch to be sanctioned by April 15. Following the SFC's green light,It takes the Hong Kong Stock Exchange two weeks to complete the listing process for Bitcoin ETFs.

New Zealand Worried About Lagging in Crypto Adoption Due to 'Wait and See' Strategy

Andrew Bayly, New Zealand's commerce and consumer affairs minister, cautioned that the nation's cautious "wait and see" stance might result in missing the advancements in the digital asset sector. He advocated for government backing of cryptocurrency industry growth, emphasizing the need for policies to address associated risks effectively.

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