In the latest economic data, the Conference Board (CB) reported a drop in the Consumer Confidence index, a key indicator of consumer sentiment and potential future spending. The...
- Citigroup has doubled down on its bearish EUR/USD stance, citing the recent disappointing European economic activity data. Data released earlier this week showed...
According to CoinDesk, Turkey has decided not to proceed with an additional tax package that would have imposed a levy on profits from stock trading and cryptocurrency. Vice President Cevdet Yilmaz confirmed the decision, stating that the proposal had been previously discussed but is no longer on the agenda. The focus will now shift to narrowing tax exemptions.In June, the Turkish government had already postponed plans to tax stocks following a decline in the country's equity market due to the news of potential additional taxes. Finance Minister Mehmet Simsek announced at the time that the draft tax study for the stock exchange would be re-evaluated based on feedback from relevant parties.Globally, countries like the U.K. and Japan are also considering how to effectively tax cryptocurrencies and whether reforms are needed. The Turkish Presidency did not immediately respond to CoinDesk's request for comment.
London lost the crown to the Big Apple in 2018.
According to Odaily, senior Democratic member of the U.S. House Financial Services Committee, Maxine Waters, has expressed hope for reaching a significant agreement on stablecoin legislation by the end of this year. Waters, along with Republican Representative Patrick McHenry, has been working on a regulatory framework for stablecoins since 2022. Waters emphasized that the new legislation should prioritize consumer protection and robust federal oversight while allowing multiple pathways for creating stablecoins, with the Federal Reserve playing a leading role. McHenry remains optimistic about the progress, although he acknowledges that Congress has limited time to finalize the legislation before the year's end. This effort could potentially conclude a two-year debate in Washington regarding stablecoin regulation.
The winners are broad-based across sectors, building up massive gains this year.
- The U.S. dollar stabilized Tuesday, while the euro attempted a comeback after the previous session’s hefty losses. At 04:00 ET (08:00 GMT), the Dollar Index, which...
-- The Federal Reserve’s first interest rate cut in over four years quelled market fears of a recession, Goldman Sachs said, with improved risk appetite likely to...
Sector ETF report for FXO
The new ETF offers six times the yield of the Nasdaq 100 Index.