The Bitcoin community on both sides of the pond are urging current and potential governments to provide clearer policies on the future of crypto.
Leading crypto players have called on the UK’s Labour government to provide urgent “regulatory clarity” to the industry at the party’s annual conference. The digital assets industry, which fears the UK being left behind other fast-moving countries, is waiting for the government to provide direction on a raft of issues such as stablecoins and staking. Despite the party putting a “dash for growth” at the heart of its manifesto, the industry has yet to get any clarity on regulation.
As China faces deflationary pressures and risks to its growth target, its central bank, the People’s Bank of China, released details of a large stimulus package to pull the economy out of its deflationary funk. Analysts suggest this could boost Bitcoin, as prior Chinese liquidity injections spurred significant BTC rallies. The broader-than-expected package offers more funding and interest rate cuts, marking the latest attempt by policymakers to restore confidence in the world's second-largest economy.
If elected, Kamala Harris has pledged to boost investments in artificial intelligence and cryptocurrency, such as Bitcoin, revealing a key focus of her economic agenda. She outlined a vision of building partnerships between labor, small business founders, innovators, and major companies to drive investment in America’s future competitiveness. Harris emphasised promoting innovative technologies like AI and digital assets like Bitcoin while ensuring consumer and investor protection.
Standard Chartered exec Geoffrey Kendrick has declared that Bitcoin may reach $200,000 by the end of 2025. Against a backdrop of increased interest in cryptocurrencies and increasing institutional investment, he remains optimistic on several factors that, he believes, will drive demand for Bitcoin, regardless of external economic conditions or the upcoming US presidential election.
As the cryptocurrency industry spends millions of dollars on political donations, trying to influence the outcome of November’s US elections in the hope of more favourable future laws, the chair of the US Securities and Exchange Commission (SEC), Gary Gensler, says the “investing public around the globe has lost too much money” because of crypto companies not following the laws his agency tries to enforce. In addition to the presidential battle between Donald Trump and Kamala Harris, all 435 districts in the House of Representatives and 33 of the 100 seats in the Senate are up for re-election.
Startup founders have a to-do list as long as their arm, and investing in crypto almost certainly isn’t on it. Thousands of small and medium-sized businesses are adopting digital assets, including cryptocurrencies like Bitcoin. These firms aren’t gambling on crypto’s future price, but instead harnessing its unique properties to transform their operations and open up new markets. The reality is, crypto isn’t a flight of fancy: it can give your startup wings.
US banking giant BNY Mellon plans to offer custody services for Bitcoin and Ether, specifically for its exchange-traded product clients. This development follows a SEC review, which has important implications for how banks handle digital assets. BNY Mellon’s unique case with ETPs seems to bypass traditional banking requirements.
Turkey has decided not to introduce any new taxes on profits from stock trading and cryptocurrency investments this year. The decision to back off from the proposed taxes is likely to calm down the investors who have been worried about the risks of the market. Trading activity on the main Turkish stock exchange has taken a hit recently, with daily volume dropping to $2.3 billion in the past month, down from over $4 billion earlier this year.
Rapper Sean “Diddy” Combs and disgraced cryptocurrency tycoon Sam Bankman-Fried are roommates in a Brooklyn jail. Combs and Bankman-Fried were housed in the same dormitory at the Metropolitan Detention Center in Brooklyn, known for housing high-profile prisoners. Combs, who was denied bail, has been in custody for nearly a week on federal sex trafficking and racketeering charges.
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