FameEX Morning Crypto News Recap | October 25, 2024

IMF: Fed Rate Cuts Could Allow Asian Central Banks to Lower Rates

IMF officials stated that as the Federal Reserve cuts interest rates, most Asian central banks will have room to lower their rates as well. This reduces concerns among regional policymakers that preemptive rate cuts might pressure their currencies, allowing for more flexibility in monetary policy.

BlackRock Warns Markets May Be Underestimating Risk of Disputed U.S. Election

On October 24, Jean Boivin of BlackRock Investment Institute warned that markets are underestimating the risk of U.S. presidential candidates disputing election results, potentially triggering weeks of chaotic legal battles and impacting risk assets. Although stocks remain near record highs, Treasuries have faced a sell-off amid these concerns.

Crypto Market Liquidations Hit $261 Million on October 23, Led by ETH

On October 23, crypto market liquidations totaled $261 million, with long positions accounting for over $203.5 million, the second-highest after $450.8 million on October 1. ETH led with $77 million in long liquidations over the past 24 hours, followed by BTC at $58.3 million.

Microsoft Shareholders to Vote on Including Bitcoin in Balance Sheet

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

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

South Korea’s Financial Services Commission (FSC) is promoting legislation to set qualifications and governance rules for major shareholders of virtual asset exchanges. During a parliamentary audit, FSC Chairman Kim Byoung-hwan stated that amendments to the Specified Financial Transaction Information Reporting and Use Act have been submitted, aiming to give the FSC authority to assess shareholder qualifications.

Denmark to Introduce 42% Tax on Unrealized Crypto Capital Gains

Denmark plans to introduce a 42% tax on unrealized crypto capital gains starting January 1, 2026, making it the first country to do so. The Danish Tax Law Committee proposed that the tax will apply to crypto assets like Bitcoin, which are not backed by physical assets or legal currencies. This initiative aims to integrate cryptocurrencies into the current financial tax framework.

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