FameEX Morning Crypto News Recap | July 16, 2024

SEC Demands Ethereum ETF Issuers Submit Final S-1 Filings

Bloomberg ETF analyst Eric Balchunas noted that the SEC has directed ETF issuers to submit their final S-1 documents with fee details by Wednesday. This submission will allow them to seek approval for effectiveness post-Monday’s close, paving the way for the ETFs to be issued on Tuesday, July 23.

Fed Chairman Powell Predicts Slower Economic Growth in This Year

Federal Reserve Chairman Powell predicted a slowdown in economic growth this year with continuing inflation. He highlighted the risk of delaying interest rate cuts until inflation hits 2%, suggesting that such a delay could be too late. Powell's remarks indicate a need for proactive measures to address these economic challenges effectively.

Russian Duma Committee's Bitcoin Mining Regulation Bill Gains Preliminary Approval

The Russian Duma Committee's Bitcoin mining regulation proposal has passed its initial approval. The revised bill grants the Russian government and the Bank of Russia authority to create mining regulations for individuals, companies, and mining pools.

BlackRock's Assets Under Management Soar to Record $10.6 Trillion

BlackRock's assets hit a record $10.6 trillion, according to Bloomberg's senior ETF analyst Eric Balchunas. This year, assets grew by $600 billion, mainly from market gains and some capital inflows. BlackRock's asset management scale now exceeds the combined totals of Fidelity, CapGroup, Invesco, and Franklin.

Bitcoin Miners Positive About Future After Trump Attack

Bernstein analysts predict a promising future for Bitcoin miners post-Trump attack. Gautam Chhugani and Mahika Sapra noted increased opportunities for positive political changes, positioning the United States as a central hub for Bitcoin mining and the production of advanced mining chips.

Hong Kong Suggests Regulatory Regime for Fiat Stablecoin Issuers

After introducing a licensing system for virtual asset service providers in June, the Hong Kong Financial Services and Treasury Bureau, with the Hong Kong Monetary Authority, consulted the public on regulating stablecoin issuers. They will soon release a consultation summary and prepare a draft bill for the Legislative Council's review.

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