Fed Chair Powell hints that further rate cuts are not urgent
Fed Chair Powell pointed out that the recent performance of the US economy has been "quite good", with a slowdown in the job market and a steady decline in inflation, so maintaining high interest rates may increase the unemployment rate. The Fed's goal is to gradually shift its policy towards a more neutral stance over time, and it will not be in a hurry to cut interest rates in the short term.
US Senator suggests Fed sell gold to buy Bitcoin
US Senator Cynthia Lummis proposed that the Fed sell part of its gold reserves to buy Bitcoin. As a staunch supporter of Bitcoin, Lummis believes that while gold is a traditional safe-haven asset, Bitcoin's growth potential and security make it more attractive to investors in the long run.
Franklin Templeton expands money market fund trading to Ethereum
Franklin Templeton has expanded its OnChain US Government Money Market Fund (FOBXX) to the Ethereum network. FOBXX, launched in 2021, is the first money market fund to use a public blockchain for transaction and ownership tracking. The fund currently has a market value of $4.1 billion, making it the third largest tokenized money market fund.
US Congress may advance stablecoin legislation before year-end
Driven by growing global regulation and financial sector interests, the US Congress may advance stablecoin legislation during the "lame duck" session. With $170 billion in circulating stablecoins (mainly pegged to the US dollar), regulators are concerned that if no action is taken, the US may be at a disadvantage in the global cryptocurrency market.
18 US states sue SEC, alleging over-regulation of crypto industry
Eighteen US states have sued the Securities and Exchange Commission, alleging that under the leadership of Chair Gary Gensler, it has over-regulated the cryptocurrency industry, which may be unconstitutional. The lawsuit, filed by Republican state attorneys general, claims the SEC's enforcement actions have exceeded its authority and infringed on the states' right to regulate their own economies.
Trump team considers appointing crypto-friendly Mersinger as CFTC chair
The Trump transition team is considering appointing Summer Mersinger as CFTC chair, as she supports cryptocurrencies and is willing to relax crypto regulation. Mersinger has criticized the Commodity Futures Trading Commission's overly aggressive enforcement approach. Other potential CFTC chair candidates include Jill Sommers and Josh Sterling, and this potential appointment could influence the future direction of US cryptocurrency market regulation. Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.
