FameEX Morning Crypto News Recap | July 30, 2024

The Fed Might Indicate a September Rate Cut This Week

U.S. Treasury yields fell ahead of the Federal Reserve's interest rate decision. The Fed is expected to keep rates unchanged but may hint at a September rate cut. Wall Street Journal economists predict weaker consumer confidence and labor cost indices, while ADP data is expected to increase.

GSR Co-CEO Forecasts Bitcoin Leading Bull Market, Strong Altcoin Comeback

Rich Rosenblum, co-CEO and co-founder of crypto market maker GSR, observed that Bitcoin's market dominance has risen this month. He predicts BTC will likely continue to lead the next stage of the bull market cycle.

Bernstein: U.S. Poised to Become a "Bitcoin Mining Superpower"

Bernstein analysts predict the U.S. will become a "Bitcoin mining superpower," leading in Bitcoin and cryptocurrency. They suggest SEC Chairman Gary Gensler may be replaced by a more crypto-friendly leader. The U.S. will keep its 213,246 Bitcoins to establish a "National Strategic Bitcoin Reserve."

Hong Kong Blockchain Association Advises Government to Hold Bitcoin Long-Term in Foreign Exchange Fund

Hong Kong Blockchain Association Co-Chairman Fang Hongjin advised the government's foreign exchange fund to keep purchasing and holding Bitcoin long-term. He believes Bitcoin's anticipated appreciation will boost financial stability and support Hong Kong's industrial development.

Qatar Re-evaluates Cryptocurrency Policy, Anticipates New Regulations in 2024

Qatar is reassessing its cryptocurrency stance after a previous ban. Last year, the financial regulator proposed a digital asset framework to support the digital economy strategy and is now seeking industry feedback to refine the regulations. Final legislation is expected in Q4 2024. Qatar had banned Bitcoin trading in 2018.

First Company in Argentina Registered with Cryptocurrency Funds

Argentina is updating its legal framework to incorporate new technologies and cryptocurrencies. The Argentine Ministry of Justice recently reported the first company registration using cryptocurrency funds. For the registration process, the cryptocurrency must be transferred to and held in a custodial wallet of a nationally registered exchange.

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