FameEX Morning Crypto News Recap | July 30, 2024

The Fed Could Signal a September Rate Cut This Week

U.S. Treasury yields declined ahead of the Federal Reserve's interest rate decision. The Fed is anticipated to keep rates unchanged but may hint at a September rate cut. Wall Street Journal economists expect weaker consumer confidence and labor cost indices, while ADP data is predicted to rise.

GSR Co-CEO Predicts Bitcoin to Lead Bull Market, Altcoins to Make Strong Comeback

Rich Rosenblum, co-CEO and co-founder of crypto market maker GSR, noted that Bitcoin's market dominance has increased this month. He believes BTC may continue to lead the next stage of the bull market cycle.

Bernstein: U.S. Set to Become a "Bitcoin Mining Superpower"

Bernstein analysts predict that the United States will become a "Bitcoin mining superpower," leading in Bitcoin and cryptocurrency. They suggest SEC Chairman Gary Gensler may be replaced by a more crypto-friendly leader. The U.S. will retain its approximately 213,246 Bitcoins, using them to establish a "National Strategic Bitcoin Reserve."

Hong Kong Blockchain Association Recommends Government's Foreign Exchange Fund to Hold Bitcoin Long-Term

Hong Kong Blockchain Association Co-Chairman Fang Hongjin recommended that the Hong Kong government's foreign exchange fund continue purchasing and holding Bitcoin long-term. He believes the expected appreciation of Bitcoin can enhance financial stability and support industrial development in Hong Kong.

Qatar Reassesses Cryptocurrency Policy, Anticipates New Regulations in 2024

Qatar is reconsidering its cryptocurrency stance following a previous ban. The financial regulator proposed a digital asset framework last year to support the digital economy strategy and is now seeking industry feedback to refine the regulations. Final legislation is expected in Q4 2024. Qatar previously banned Bitcoin trading in 2018.

First Argentine Company Registered Using Cryptocurrency Funds

Argentina is modernizing its legal framework to embrace new technologies and cryptocurrencies. Recently, the Argentine Ministry of Justice reported the first company registration using cryptocurrency funds. The cryptocurrency must be transferred to a custodial wallet of a nationally registered exchange and must be kept there for the registration process.

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