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FameEX Morning Crypto News Recap | November 13, 2023
2023-11-13 13:04:40
JPMorgan Predicts Continued Stringency in US Crypto Regulations Despite SEC's Legal Setbacks
PMorgan, a leading investment bank, cautions that despite recent legal defeats for the SEC against cryptocurrency firms, U.S. crypto regulations may not relax. The bank's analysts emphasize the crypto industry's largely unregulated status, suggesting that regulatory intensification is likely to persist. This outlook impacts investors navigating the evolving landscape of cryptocurrency regulations in the United States.
Author of 'Rich Dad Poor Dad,' Robert Kiyosaki, Explains His Ongoing Investment in Bitcoin Bestselling author Robert Kiyosaki of "Rich Dad Poor Dad" explains his ongoing investments in gold, silver, and bitcoin. He attributes his choices to a belief that current leaders are driving more war and poverty. Kiyosaki views these investments as means to lifelong financial security and freedom. He has made optimistic forecasts for bitcoin's price, predicting it could reach between $135,000 and $1 million. Grayscale CEO Reports Active Engagement with SEC Regarding Spot Bitcoin ETF Grayscale Investments, a cryptocurrency asset manager, is actively collaborating with the U.S. Securities and Exchange Commission (SEC) on its proposal to transform its leading bitcoin trust into a spot bitcoin exchange-traded fund (ETF). CEO Michael Sonnenshein feels that Grayscale stands out positively among other applicants for spot bitcoin ETFs, giving the company a significant advantage in the process. US Congress Member Stresses: Crypto Itself Isn't the Issue, Rather the Malevolent Actors in Every Field Senator Cynthia Lummis defends cryptocurrencies, stating they're involved in under 1% of illegal finance activities. She argues that the main issue lies with bad actors, not the crypto sector itself. Lummis advocates for a U.S. regulatory framework to support domestic crypto operations, preventing their migration to unregulated international markets. SC Ventures, a Standard Chartered Division, Collaborates With SBI to Launch Digital Asset Joint Venture in UAE Standard Chartered’s venture unit, SC Ventures, is teaming up with Japan's SBI Holdings to set up a digital asset joint venture in the UAE. This venture aims to invest in various sectors within the digital assets domain, including market infrastructure, risk and compliance tools, decentralized finance (DeFi), tokenization, consumer payments, and the metaverse, as detailed by SC Ventures. Swiss Banking Behemoth UBS Introduces Crypto ETFs for Affluent Clients in Hong Kong, According to Report Swiss financial services leader UBS is now providing affluent clients in Hong Kong with access to select crypto exchange-traded funds (ETFs). Initially, UBS is introducing three crypto ETFs that have secured regulatory approval from the Securities and Futures Commission, marking a significant step in expanding its cryptocurrency-related offerings to its high-net-worth client base. Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.
