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The EU banking supervisory authority, the EBA, announced on the 11th through an official statement that it will establish stable coin technology standards by the end of 2024. The EBA said that it will apply stable coin regulations within the EU by December based on the EU's integrated cryptocurrency regulation, MICA.
2. UK introduces “Cryptocurrency, Recognition of Personal Assets” bill
The British Parliament introduced a bill on the 11th that recognizes cryptocurrencies, including Bitcoin (BTC), as personal property and thus recognizes property rights in cryptocurrencies. The British Ministry of Justice declared that various cryptocurrencies in the UK will be legally protected as property through the newly introduced bill.
3. Bitcoin, weak consolidation due to slight increase in US core CPI
Bitcoin (BTC) failed to rebound despite the U.S. Consumer Price Index (CPI) meeting expectations in August, despite the rise in the core CPI, which excludes energy and food prices. The U.S. Department of Labor announced on the 11th that the core CPI rose by about 0.3% from the previous month. The rise in the core CPI has led to disappointment in and outside the market that the possibility of the Federal Reserve (Fed) carrying out a 50bp interest rate cut, the “big cut,” has disappeared, and cryptocurrencies including Bitcoin have fallen weakly.
Reporter Kwon Seung-won ksw@
