FameEX Morning Crypto News Recap | October 28, 2024

Ex-SEC Lawyer Discusses Challenges of Crypto Industry Cooperation with Regulators

Former SEC enforcement lawyer Ladan Stewart discussed the tension between the crypto industry and regulators on X, as reported by Fox Business's Eleanor Terrett. Stewart highlighted that while many in the crypto space are eager to collaborate with regulators, they feel thwarted by the SEC and Biden administration leaders, who are perceived as obstacles to achieving regulatory clarity and industry growth.

Trump Suggests Using Bitcoin to Eliminate $35 Trillion National Debt and Federal Income Tax

Former President Trump discussed on the Joe Rogan Experience his past consideration of abolishing the US federal income tax in favor of import tariffs. Additionally, he proposed using Bitcoin to pay off the $35 trillion national debt. In a talk with Fox News' Maria Bartiromo, he suggested the U.S. could settle its debts by "giving them a little Bitcoin."

Traditional Financial Institutions Show Interest in Bitcoin ETFs to Enhance Capital Flows and Demand

Data reveals that over the past four years, BlackRock IBIT has led in capital inflows among 1,800 newly traded ETFs. Bloomberg ETF analyst James Seyffart attributes the rapid inflow to investors' longstanding desire to invest in Bitcoin, which lacked a safe and straightforward method prior to the ETF's approval. With the ETF now active, this pent-up demand is swiftly entering the market.

Tether CEO Discloses Company's Holdings of 82,454 BTC

On October 27, Bitcoin Magazine reported on X platform that Tether CEO Paolo Ardoino revealed the company holds 82,454 BTC, valued at approximately US$5.55 billion.

Hong Kong SFC Collaborates with Asia-Pacific Regulators on Crypto Assets and AI Regulation

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

Bitcoin Policy Institute Urges Central Banks to Adopt Bitcoin as a Reserve Asset

A recent paper from the Bitcoin Policy Institute, titled "The Case for Bitcoin as a Reserve Asset," recommends that central banks adopt Bitcoin as a reserve asset. It argues that Bitcoin can help combat 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.