FameEX Morning Crypto News Recap | April 11, 2024

Lawmaker Showcases Two Bills Aimed at Establishing US as a Leader in Cryptocurrency, Proclaims Bitcoin as 'Unstoppable'

Congressman Patrick McHenry labels bitcoin as "unstoppable" due to its enduring nature against shutdown attempts by authorities. He urges the U.S. to take the lead in the digital asset space, emphasizing two congressional bills that aim to set forth transparent regulations for cryptocurrencies.

Uniswap Labs Issued SEC Wells Notice, Founder Commits to Vigorous Response

On social media, Uniswap Labs' founder Hayden Adams announced the SEC served the company with a Wells notice. Adams shared his dismay at this turn of events and steadfastly stated his intention to challenge the notice, hinting at an impending legal dispute with the regulatory authority.

Judge Scheduled to Sentence Ex-FTX Executive Ryan Salame in Late May

Court records indicate that Ryan Salame, previously co-chief executive at FTX Digital Markets, will be sentenced by Judge Lewis Kaplan. Salame has pleaded guilty to charges of operating a money transmission business without a license and engaging in unlawful political donations, shedding light on notable regulatory violations in the crypto industry.

BIS Report Highlights Risk of Disjointed Regulation Undermining Stablecoin Effectiveness

The Bank for International Settlements (BIS) highlights in a survey of 11 jurisdictions that disparate international regulations are impeding the full potential of stablecoins. The report urgently calls for uniform stablecoin regulations, warning that inconsistencies in regulation threaten their integration into the worldwide financial system.

Hong Kong Regulator Speeds Up Bitcoin Spot ETF Approvals

The Hong Kong Securities Regulatory Commission (SFC) is accelerating the authorization of four spot Bitcoin ETFs, with the goal of approving the initial group by April 15. After receiving approval from the SFC, The Hong Kong Stock Exchange requires two weeks to finalize the listings of Bitcoin ETFs.

New Zealand Concerned Over Falling Behind in Cryptocurrency Adoption with Cautious Approach

Commerce and Consumer Affairs Minister Andrew Bayly warned that New Zealand risks falling behind in the digital asset industry due to its "wait and see" approach. He encouraged the government to support the growth of the cryptocurrency sector and stressed the importance of crafting policies to mitigate potential risks.

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