FameEX Morning Crypto News Recap | July 18, 2024

European Regulators Issue New Guidance on Crypto Asset Regulation

On July 17, the three major European regulatory agencies (EBA, EIOPA, and ESMA, known as ESA) released a consultation document on Market Guidelines for Crypto Asset Regulation (MiCAR). The document offers a template for interpreting and legally classifying crypto assets, introducing standardized tests to ensure a unified classification approach across Europe.

Flowdesk CEO: US Crypto Innovation Market is Expansive, EU Can Learn from Regulatory Issues

Guilhem Chaumont, CEO of Flowdesk, believes U.S. crypto regulation issues can be resolved through coordination, using the EU's MiCA regulation as a model. Unlike the U.S., the EU avoids multiple state licenses. Chaumont suggests that removing these bottlenecks could accelerate growth to three times the current rate in France.

Hong Kong to Implement Regulatory Regime for Fiat Stablecoin Issuers

Hong Kong will implement a regulatory framework for fiat stablecoin issuers to provide clear guidelines and oversight. This regime aims to ensure stability and transparency in the stablecoin market, setting standards for issuance, governance, and risk management to promote a secure environment for stablecoin transactions.

Commerzbank: Eurozone Bond Market Recovers, Expects ECB Rate Cuts

Michael Leister, head of interest rate strategy at Commerzbank Research, observed the eurozone bond market's recovery despite strong U.S. economic data. Markets have nearly priced in a 25 basis point ECB rate cut for September, December, and March, and anticipate a 65 basis point rate cut by the Federal Reserve by year-end.

Marex Solutions: Wall Street's Shift to Small-Cap Stocks Could Propel Crypto Market

Marex Solutions suggested Wall Street's shift from large-cap to small-cap stocks could boost the crypto market. Ilan Solot, senior global strategist at Marex, highlighted sector rotation as a key macroeconomic factor for cryptocurrencies. As interest in Mag 7 stocks declines, funds may initially move to small-cap stocks, but Solot believes cryptocurrencies will ultimately benefit.

Vitalik Buterin Warns Against Political Support Based on Crypto Opinions

Ethereum co-founder Vitalik Buterin cautioned against supporting political candidates based solely on their pro-crypto stance. He emphasized the importance of broader values like individual freedoms and technological advancement, warning that "crypto-friendly now does not mean crypto-friendly five years from now."

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