Here is what happened yesterday in the crypto market:
Regulatory Changes and Overhauls in Crypto Guidance
Travis Hill, the interim chairman of the FDIC, announced that the agency is rethinking its approach to digital assets as U.S. senators scrutinize banking practices involving crypto businesses. The emphasis is on enhancing oversight amidst growing concerns about debanking in the crypto sector.
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U.S. Bitcoin Reserve Deliberations Continue
The crypto market remains cautious as discussions about establishing a U.S. Bitcoin reserve progress slowly. States are taking proactive measures by investing in crypto ahead of federal actions, raising questions about regulatory clarity.
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Trade Wars and Their Implications for DeFi
ML Tech’s Leo Mindyuk suggests that although current trade tensions are affecting crypto negatively, decentralized finance (DeFi) may gain stability and resilience in the long term compared to traditional financial systems.
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New Developments in SEC’s Crypto Task Force
Acting SEC Chair Mark Uyeda has appointed new members to the Crypto Task Force, aiming to provide much-needed regulatory clarity for the industry. Hester Peirce laid out priorities to help navigate the evolving landscape of cryptocurrency regulations.
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Expansion of Crypto Adoption in Asia
Blockstream is enhancing its presence in Asia by launching a new office in Tokyo. This move signifies a commitment to increasing Bitcoin adoption and developing self-custody solutions within the region.
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