FameEX Morning Crypto News Recap | July 16, 2024

SEC Mandates Final S-1 Filings from Ethereum ETF Issuers

Bloomberg ETF analyst Eric Balchunas reported that the SEC requested ETF issuers to submit their final S-1 documents, including fee details, by Wednesday. This step is to enable them to apply for effectiveness after Monday's close, allowing the ETFs to be issued on Tuesday, July 23.

Fed Chair Powell Anticipates Slower Economic Expansion This Year

Federal Reserve Chairman Powell stated that he expects economic growth to slow down this year and inflation to persist. He emphasized that if the Fed delays interest rate cuts until inflation reaches 2%, it would be too late, indicating a proactive stance might be necessary to manage economic challenges effectively.

Russian Duma Committee Proposes Bitcoin Mining Regulation Bill, Receives Initial Approval

The Russian Duma Committee's proposal to regulate Bitcoin mining has passed its first round of approval. The revised bill empowers the Russian government, in collaboration with the Bank of Russia, to establish mining regulations for individuals, companies, and mining pools.

BlackRock's Assets Under Management Reach Record $10.6 Trillion

BlackRock's assets have reached a record high of $10.6 trillion, as disclosed by Bloomberg's senior ETF analyst Eric Balchunas. This year, BlackRock's assets increased by $600 billion, primarily due to market gains and partially from capital inflows. Its asset management scale now surpasses the combined total of Fidelity, CapGroup, Invesco, and Franklin.

Bitcoin Miners Optimistic About Future Following Trump Attack

Analysts at Bernstein stated that Bitcoin miners have a promising future following Trump's attack. Gautam Chhugani and Mahika Sapra highlighted that Bitcoin mining companies now have more opportunities for positive political changes, with the United States poised to become a central hub for mining and the production of the latest mining chips.

Hong Kong Proposes Regulatory Framework for Fiat Stablecoin Issuers

The Hong Kong Financial Services and Treasury Bureau, along with the Hong Kong Monetary Authority, consulted the public on a proposed regulatory system for stablecoin issuers after implementing a licensing system for virtual asset service providers in June. They will soon publish a consultation summary and prepare a draft bill for the Legislative Council's deliberation.

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