While the crypto ETFs are already available to investors on other trading platforms, Mox charges a lower fee of 0.12% of transaction volume with a minimum of HK$30 ($3.85) for Hong Kong-listed ETFs and 0.01% with a minimum of $5 for U.S.-listed ETFs. This is the cheapest among banks in the area, Henry Lau, Mox’s head of investment, told the SCMP. Source
The ominous-sounding technical price pattern could again trap bears on the wrong side of the market as the Bank of Japan plays down chance of a near-term interest rate hike. Source
Xapo Bank has entered the UK market, becoming the only licensed banking group to offer a combined interest-bearing USD and bitcoin account. “We’re proud to announce we have successfully passported our banking license into the UK. This means we are allowed to offer our banking services directly to the UK market,” said the CEO of […] Original
Elvira Nabiullina, the governor of the Bank of Russia, declared that she expects the digital ruble, the Russian CBDC, to achieve a high level of acceptance due to the benefits it offers to Russian citizens. During a speech at the Federation Council, Nabiullina stated that it would be widely adopted within five to seven years. […] Source CryptoX Portal
“Should a mismatch occur between a stablecoin issuer’s liabilities (the coins in circulation) and the assets backing that stablecoin, this could undermine confidence in the ability of the issuer to offer redemption at par and prompt a ‘run,’ ie a sudden loss of belief in the stablecoin’s value,” the report said. Source
Bitcoin held steady near $66,000, nursing a weekly loss of 2% on expectations for renewed rate cuts from the U.S. Federal Reserve. That spurred demand for the “anti-risk” yen, sending the USD/JPY rate down to nearly 150, the strongest for yen since March, according to data source TradingView. Futures tied to the S&P 500 rose 0.4%, signaling a positive open on Wednesday. Original
The Bank of England (BOE) is urging UK banks to expedite their digital payment solutions as cash use declines. The BOE’s recent paper highlights the need for innovations that allow direct payments from bank accounts, bypassing credit and debit cards, to save time and costs for consumers and retailers. The British central bank is developing […] Source CryptoX Portal
The World Gold Council’s Q2 2024 report highlights a year-on-year increase in gold demand, marking the highest second-quarter demand since 2000. This surge is fueled by central bank purchases and OTC investments, with central bank gold buying up by 6% and technology sector demand rising by 11%. Q2 2024 Sees Record Gold Demand The World […] Source CryptoX Portal
According to Nagel Paulino, head of the Central Bank’s regulatory department, the Central Bank of Brazil hopes to finalize cryptocurrency market regulations by 2025. The institution will conduct a second public consultation to finalize the drafts, hearing the opinions of market participants in order to tailor these rules to local needs. Central Bank of Brazil […] Source
Longer term, though, it appears that at least a modest series of rate cuts across all major central banks except the BOJ are the new norm. In addition to developments at the Fed and BOE, the European Central Bank trimmed its policy rate earlier this summer and the Bank of Canada has cut twice in the past few months. Original