FameEX Morning Crypto News Recap | March 13, 2024

The US Securities and Exchange Commission Declares Tianqiao Capital's Bitcoin ETF Registration Statement Void

The US Securities and Exchange Commission (SEC) has deemed SkyBridge Capital's Bitcoin ETF, "First Trust SkyBridge Bitcoin ETF Trust," as "null and void" pursuant to Section 6(a) of the 1933 Securities Act. The decision comes after the filing lingered for over nine months without timely amendments or withdrawal following a Rule 479 notice.

JPMorgan Chief Endorses Fed's Planned Interest Rate Reduction This Year, Upholds the Right to Purchase Bitcoin

At the Australian Financial Review Business Summit in Sydney, JPMorgan CEO Jamie Dimon declared his support for individual freedoms, including the right to buy Bitcoin, though he personally wouldn't invest in it. Concerning monetary policy, Dimon advocated for the Federal Reserve to postpone any interest rate cuts until later in the year, indicating a cautious approach to economic adjustments.

Goldman Sachs, BNY Mellon, and Chicago Mercantile Exchange Conclude Successful Pilot Blockchain Transactions Among Banks

Goldman Sachs, Bank of New York Mellon, Chicago Options Exchange, and other firms have successfully carried out pilot tests on a blockchain network linking various banks and financial entities. The trial involved conducting more than 350 simulated transactions via the blockchain, showcasing its potential to facilitate interbank and financial institution connectivity.

The European Parliament Adopts New Rules to Limit Financial Services, Including Cryptocurrency Transactions, to Sanctioned Entities

The European Parliament has passed a set of new sanction laws that extend to cryptocurrencies, significantly impacting financial services. These laws now encompass restrictions on a broad spectrum of financial activities, specifically targeting the provision of "cryptocurrency assets and wallets," as part of the EU's efforts to enforce its restrictive measures more comprehensively.

Swedish Central Bank Chief Aims to Significantly Reduce Bitcoin Utilization in the Financial Industry

Erik Thedeen, Governor of the Swedish Central Bank, wishes to minimize Bitcoin's presence in Sweden's financial system, criticizing it as a speculative, unpriced tool. While he acknowledges that Bitcoin doesn't threaten financial stability, he emphasizes its potential risks to consumers, advocating for its limited use within the financial sector.

The Hong Kong Monetary Authority Initiates a "Sandbox" Program for Stablecoin Providers

On March 12th, the Hong Kong Monetary Authority (HKMA) unveiled a "sandbox" initiative targeting stablecoin issuers. This program is designed to align with ongoing consultations regarding proposed regulatory laws for stablecoin issuers. It offers a collaborative platform for entities looking to issue fiat-based stablecoins in Hong Kong, facilitating a dialogue on regulatory standards and gathering feedback.

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