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FameEX Morning Crypto News Recap | November 29, 2023
2023-11-29 12:16:15
A Promising Pathway for Approving All Bitcoin ETFs in January
Bloomberg ETF analysts James Seyffart and Eric Balchunas, who had initially projected a 90% probability of spot Bitcoin ETF approvals by January 10, 2023, now speculate that the recent delays in Bitcoin ETF decisions are part of a strategy to synchronize applications for potential approval by the January 10, 2024 deadline.
Amazon Unveils 'Q': A Business-Centric Rival to ChatGPT Amazon has launched "Amazon Q," an AI-powered chatbot designed for business use. This chatbot can engage in conversations, offer solutions, generate content, provide insights, and integrate with a company's data, code, information repositories, and enterprise systems, as announced by Amazon Web Services (AWS) on November 28th. Crypto Futures Market Retains its Dominance Despite Bitcoin Spot ETF Arrival Prominent financial institutions like Goldman Sachs, Morgan Stanley, and JP Morgan have relied on CME for cryptocurrency trading via futures contracts. Futures are favored due to liquidity issues in the spot market. While a spot ETF is absent, these institutions can access bitcoin anytime, with liquidity as the primary concern. In Only Two Weeks, Bitcoin Whale Climbs to 72nd Position, Amassing Over 10,000 BTC Amid ETF Enthusiasm In an impressive shift, a Bitcoin whale address has surged from 492nd place to the 72nd largest Bitcoin holder in a mere two weeks, amassing over 10,000 Bitcoin. This substantial rise aligns with discussions around how exchange-traded funds (ETFs), including Blackrock, might acquire Bitcoin, including the possibility of direct purchases from miners. Study Shows How Bitcoin Mining Supports Renewable Energy and Flexible Load Systems A recently published working paper, co-authored by industry experts, investigates the substantial impact of Bitcoin mining on the advancement of renewable energy worldwide and the stabilization of electrical grids. It highlights mining as a flexible tool for managing significant demand response in various industries and harnessing untapped energy resources. More Foreign Banks Join China's CBDC Pilot Testing Program Four foreign banks, including Standard Chartered, HSBC, Hang Seng Bank, and Taiwanese bank Fubon Bank, have joined China's central bank digital currency (CBDC) pilot program for the digital yuan, or e-CNY. This participation reflects the increasing interest and involvement of international banks in China's CBDC pilot trials. Certainly, here's a rewritten title: "Spanish Citizens Required to Disclose Foreign Crypto Assets by March 31, 2024" Spanish residents holding cryptocurrency assets on foreign platforms must adhere to new taxation regulations by reporting their holdings by March 31, 2024. This obligation applies specifically to individuals with cryptocurrency holdings exceeding 50,000 euros in foreign accounts. The reporting requirement is part of Spain's efforts to regulate and tax digital assets held abroad. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
