FameEX Morning Crypto News Recap | February 29, 2024

Hong Kong's Financial Secretary Announces Expansion of Digital RMB Pilot Program

The Hong Kong SAR government, under Financial Secretary Paul Chan Mo-po, has unveiled a new budget plan incorporating the expansion of the "digital renminbi" pilot program. This expansion will enable Hong Kong citizens to effortlessly open and utilize digital renminbi wallets, enhancing the efficiency and user experience of cross-border payments via "Transfers Express".

Dubai's Global Blockchain Summit: Convening Leading Experts in Blockchain and Web3

VAP Group is set to organize the premier blockchain event, Global Blockchain Show Dubai, at the Grand Hyatt Dubai from April 16-17, 2024. This key event will attract over 7000 participants, featuring 300 speakers, 120 sponsors, and representation from 3000 companies, highlighting its status as a leading gathering for Web3 and crypto innovation enthusiasts.

BlackRock-Led Bitcoin ETFs Set New Volume Record Amid Volatile Crypto Market Movements

BlackRock's bitcoin ETF (IBIT) surpassed its volume record for the third day in a row, trading over 96 million shares valued at approximately $3.3 billion, according to Nasdaq. This volume significantly exceeds the previous all-time high of $1.35 billion on Tuesday, which itself had eclipsed Monday's record of $1.3 billion.

Third Biggest Bitcoin Wallet Adds 4,809 BTC to Its Holdings

On-chain data reveals that the third-largest Bitcoin holding address added 4,809 BTC to its portfolio today, valued at about US$293 million. This marks the address's first accumulation since January 5. Now holding 131,945.15 BTC, worth an estimated US$8.135 billion, the address's unrealized profit stands at US$4.283 billion.

Morgan Stanley Evaluates Integration of Bitcoin Spot ETF into Its Brokerage Services

Morgan Stanley is assessing the potential addition of a Bitcoin spot ETF to its brokerage offerings, following the U.S. SEC's approval of Bitcoin spot ETFs in January. The firm is considering this move to provide clients with Bitcoin spot ETF options. Presently, there are 10 Bitcoin spot ETFs available in the U.S., with Grayscale’s GBTC, BlackRock’s IBIT, and Fidelity’s FBTC being the most significant.

IRS Recruits Two Specialists from Private Sector for Cryptocurrency Taxation Assistance

The IRS has brought on board two experts from the private sector, Sulolit Raj Mukherjee, J.D., and Seth Wilks, CPA, as executive consultants to bolster its cryptocurrency tax initiatives. These professionals are tasked with aiding the development of focused programs on digital assets, encompassing servicing, reporting, compliance, and enforcement.

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