FameEX Morning Crypto News Recap | October 11, 2024

SEC Commissioner Acknowledges Cryptocurrency Strategy Has Been a Failure

On October 10, SEC Commissioner Mark Uyeda acknowledged that the agency's approach to cryptocurrencies has been a "disaster for the entire industry," reflecting growing criticism of the SEC's handling of crypto regulations and its impact on the sector.

HBO Documentary "Money Electric: The Bitcoin Mystery" Receives 5.6 IMDb Rating

On October 10, IMDb rated HBO's documentary *Money Electric: The Bitcoin Mystery*, which explores the identity of Bitcoin's creator, Satoshi Nakamoto, at 5.6/10. IMDb, short for Internet Movie Database, is an online platform providing information on movies, TV shows, actors, and directors. The documentary aims to shed light on the mystery surrounding Nakamoto's identity.

Rising Core CPI Could Prompt Fed to Reconsider Interest Rate Cuts

On October 10, a Bloomberg survey of economists predicted CPI growth at 0.1% and core CPI (excluding food and energy) at 0.2% month-on-month. Core CPI is viewed as a more reliable indicator of future inflation. If inflation progress slows, the Federal Reserve may reconsider rate cuts planned for November or December.

USDT's Regulatory Status in Europe Uncertain as ESMA Stays Silent

As the EU's Markets in Crypto-Assets (MiCA) regulations approach implementation, the regulatory status of stablecoin USDT in Europe remains uncertain. On October 10, the European Securities and Markets Authority (ESMA) did not clarify whether USDT complies with MiCA rules, leaving its future in the European market unclear.

French Custodian Bank CACEIS Unveils Digital Asset Custody Framework

French custodian bank CACEIS has launched its digital asset custody framework, enabling users to access native digital currency market funds (MMFs). A subsidiary of Crédit Agricole, with nearly 30% owned by Santander, CACEIS recently obtained a Spanish Digital Asset Service Provider (DASP) license, further expanding its digital asset services.

Justin Sun Elected as New Prime Minister of Liberland

The unrecognized micro-nation of Liberland elected Justin Sun, founder of the TRON network, as its new prime minister. On October 6, Liberland's Experimental Parliament election results were announced, with Sun emerging as the winner. President Vit Jedlička nominated him as Acting Prime Minister, acknowledging his role as Speaker of the Parliament.

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