Thai SEC revokes Zipmex’s licenses after failure to comply with orders
Thailand’s finance minister determined the cryptocurrency exchange was “still in contravention” of orders imposed by the SEC in February.
Thailand’s finance minister determined the cryptocurrency exchange was “still in contravention” of orders imposed by the SEC in February.
The European elections have caused a stir, but several pro-crypto or crypto-supportive parties have gained seats.
The Central Bank of Ireland has approved 15 different VASPs from June 7, 2024, including Crypto.com, Coinbase, Gemini, Ripple and others.
At the 2024 Proof of Talk event in Paris, France Jenny Johnson CEO of Franklin Templeton and Mo Shaikh the founder of Aptos explained the protocol economy’s impact on regulators.
In its inaugural report on encryption, the EU Innovation Hub for Internal Security examined how privacy coins and mixing protocols complicate regulatory efforts.
The government warned betting companies that failing to comply with the new rules could result in a fine of up to 234,750 Australian dollars ($155,000).
According to Odaily, the US employment data released last Friday exceeded expectations, diminishing hopes for a Federal Reserve rate cut in September. This development led to a decline in Bitcoin and Ethereum prices. QCP Capital noted that the drop in Bitcoin and Ethereum prices following the report's release created a 'buy the dip' opportunity. As other central banks continue to lower borrowing costs, the Federal Reserve will find it increasingly difficult to maintain high interest rates. The market will increasingly absorb the impact of at least one rate cut by the Federal Reserve. It will be challenging for the US to ignore this as other countries around the world continue to cut rates. QCP Capital added that its trading department has seen bullish capital flows during this downturn. These include sellers of aggressive bearish options and buyers of bullish spreads, especially for Bitcoin's bullish options.
According to CryptoPotato, the U.S. central bank is expected to keep interest rates unchanged in its policy decision on Wednesday, June 12. This decision follows strong jobs data for May, leading policymakers to likely maintain rates within the 5.25% to 5.5% range for the seventh consecutive meeting. The number of cuts planned for this year may also be reduced as policymakers evaluate a variety of economic data. June 12 will also see the release of core CPI (consumer price index) reports, a key measure of inflation that significantly influences the Federal Reserve's monetary policy decisions, including interest rate adjustments. An increase in the CPI reading indicates rising inflation, which usually pressures the Fed to either raise interest rates or maintain them. The year-on-year CPI figure is expected to remain at 3.4%, suggesting that the central bank will not alter rates this week. There has been a strong correlation between Bitcoin price and CPI data this year. Higher-than-expected CPI has negatively affected the digital asset, while a lower-than-expected CPI has had a positive impact. Other key events this week include the OPEC Monthly Report on Tuesday, the Fed Interest Rate Decision and Press Conference on Wednesday, May PPI Inflation data on Thursday, and MI Consumer Sentiment data on Friday. On Thursday, June 13, core PPI (producer price index) reports will be released. This data measures the average change over time in selling prices received by domestic producers of goods and services and serves as a valuable supplementary inflation indicator used by FOMC policymakers. Analysts predict the first rate cut to occur at the central bank's September policy meeting, the last gathering before the November 5 presidential election. The Fed rate decision is likely already factored into crypto markets, as it is widely expected that rates will remain unchanged. There may be some volatility mid-week, but the sideways momentum is likely to persist. Altcoins may suffer, however, as Bitcoin dominance remains high, delaying the onset of altseason. Crypto trader 'Emperor' shared his thoughts on the market's state with his 390,000 followers on June 9, suggesting that the market is in a confusing position.
According to Odaily, HSBC Bank (China) Co., Ltd., also known as HSBC China, has recently announced the launch of digital yuan services for its corporate clients. This makes it one of the first foreign banks to offer digital yuan services to both corporate and retail customers. The move comes amid frequent developments in the digital yuan sector and the continuous expansion of pilot applications. HSBC's expansion of services to corporations indicates that foreign banks are actively using the digital yuan to enhance customer service capabilities and boost the development of the digital economy. Since the launch of personal digital yuan services in November 2023, HSBC China has been continuously laying out in the digital yuan field. Through close cooperation with the digital yuan operating institution, Bank of China, HSBC China has expanded its services to the corporate end. It has launched digital yuan public wallet-related services for its corporate clients, who can bind the digital yuan wallet to their bank accounts for management and automatically deposit the digital yuan into their bank accounts. As the first transaction after the opening of corporate digital yuan services, HSBC has made a trial in the education field. It assisted Nord Anglia Education Group, a bilingual education group, in opening digital yuan services for its six schools in Shanghai, Beijing, Guangzhou, Jiaxing, and Suzhou. It also helped them successfully complete the first digital yuan receipt, further expanding their receipt channels and empowering the construction of smart campuses.
According to Odaily, South Korea's 'Virtual Asset User Protection Law' is set to take effect on July 19, and regulatory authorities have released guidelines on whether Non-Fungible Tokens (NFTs) are considered virtual assets. Previously, financial authorities announced through the 'Virtual Asset User Protection Law Enforcement Order' that NFTs are not considered virtual assets. This principle has been retained, but NFTs that have characteristics of virtual assets may be considered as such. Companies issuing NFTs must declare their business as a virtual asset business to the competent department. The Financial Services Commission announced the NFT guidelines containing this information on the 10th. After the implementation of the 'Virtual Asset User Protection Law', NFTs generally traded for the purpose of 'content collection' will be excluded from the scope of virtual assets. For ambiguous NFTs, the application of the law depends on the substance of the NFT, determined in the order of 'securities → virtual assets'. It is first determined whether the NFT is a security, and then its essence is determined to see if it belongs to virtual assets. Whether it belongs to virtual assets is judged according to the following criteria: 1) Large issuance or large-scale series, with high substitutability; 2) Can be divided, with significantly weakened uniqueness; 3) Direct or indirect payment method for specific goods or services; 4) Virtual asset exchanges can be conducted between unspecified persons, or payments can be made for other virtual asset-related goods or services.