FameEX Morning Crypto News Recap | December 20, 2023

Grayscale's Chief Executive Foresees Spot Bitcoin ETFs Targeting a $30 Trillion Market Opportunity

Grayscale Investments predicts that approval of spot bitcoin ETFs by the U.S. SEC could facilitate the $30 trillion advised wealth market's entry into bitcoin investments. The CEO of the firm remains upbeat about market prospects, highlighting a noticeable uptick in the number of investors including bitcoin in their investment strategies.

China's Current Economic Issues Reflect Japan's Previous Economic Challenges

Experts urge China to learn from Japan's prolonged economic stagnation, advocating for a move away from reliance on manufacturing and investment towards boosting domestic consumption. They highlight the similarities between Japan's economic conditions in the 1980s and China's present situation, focusing on the lessons that China could learn from these analogous economic trajectories.

Brazilian Central Bank Initiates Public Feedback on Rulemaking for Virtual Asset Service Providers

Brazil's Central Bank is conducting a public consultation to collect insights on the regulation of virtual assets service providers (VASPs) within the country. The process involves a comprehensive 38-question survey, spanning multiple topics. Interested parties can choose to answer all or some of these questions, with the consultation period open until January 31, 2024.

International Securities Regulatory Body IOSCO Issues DeFi Guidelines

The International Organization of Securities Commissions (IOSCO) released nine policy recommendations on December 19, aimed at enhancing consistent regulatory supervision globally and locally. Alongside this, Rule 7 provides insight into the tactics that decentralized finance (DeFi) and other market players may use to evade regulatory controls.