According to Odaily, Federal Reserve Governor Michelle Bowman has reiterated her previous statements regarding monetary policy. Bowman emphasized that the core inflation rate remains uncomfortably above the 2% target.
According to Foresight News, the Hong Kong Securities and Futures Commission (SFC) has granted ZA Bank an extension to its type 1 license, allowing the bank to engage in cryptocurrency trading. This development marks a significant step for ZA Bank as it expands its services into the virtual asset market.
According to PANews, Taiwan's Financial Supervisory Commission (FSC) has announced that qualified professional investors can now invest in foreign virtual asset ETFs through sub-brokerage. Eligible professional investors include institutional investors, high-net-worth corporate investors, high-asset clients, professional investor corporations or funds, and individual professional investors.To ensure that investors possess adequate investment experience and knowledge, securities firms offering virtual asset ETF services must establish a comprehensive suitability assessment system, which must be reviewed and approved by the board of directors. Before a client makes their first purchase of a virtual asset ETF, the securities firm must evaluate whether the client has the relevant investment experience and professional knowledge to ensure the appropriateness of the investment risk. Except for institutional investors, other investors must sign a risk disclosure statement before making their first purchase of a virtual asset ETF. Securities firms are required to provide relevant product information to investors before accepting their first purchase of a virtual asset ETF, to help investors fully understand the characteristics and associated risks of the virtual asset ETFs they are investing in.
According to Odaily, Bolivia has experienced a significant increase in cryptocurrency transactions over the past three months following the legalization of digital payment channels. The Bolivian Central Bank recently reported that the country's monthly virtual asset trading volume surged from $7.6 million to $15.6 million, driven primarily by stablecoin transactions and growing public interest. This growth is attributed to the implementation of Executive Board Resolution No. 082/2024, which came into effect in June and allows the purchase of virtual assets through electronic payment channels.The number of virtual asset transactions also saw a substantial rise, with over 1.1 million transactions recorded from July to September, compared to approximately 932,000 in the previous six months. Most of these transactions were conducted by individuals. Additionally, the Financial System Supervisory Authority (ASFI) reported that six financial institutions have begun using virtual assets in their operations, further integrating these digital tools into Bolivia's economic system. Data shows that the business activities of these institutions increased by 40% between July and August.To support this expansion, the Bolivian Central Bank launched an educational program to inform the public about the characteristics and risks of virtual assets. The program included 33 workshops nationwide, attended by over 3,000 people. Central Bank President Edwin Rojas Ulo emphasized that this initiative is part of a broader strategy to modernize the economy and enhance international business and financial activities.In late June, Bolivia lifted its ban on Bitcoin and other cryptocurrencies, which had been in effect since December 2020. On June 26, the Bolivian Central Bank officially announced that banks are now permitted to conduct cryptocurrency transactions. However, despite the authorization to trade cryptocurrencies through approved electronic channels, the Bolivian Central Bank reminded citizens that cryptocurrencies are not considered legal tender.
According to BlockBeats, several significant economic events are scheduled for next week in the United States, which could provide crucial insights into the country's economic health. Here are the key events to watch for:On Tuesday at 01:00 UTC+8, Federal Reserve Chairman Jerome Powell will deliver a speech at the National Association for Business Economics. Later that day, at 22:00 UTC+8, the ISM Manufacturing PMI for September will be released. At 23:00 UTC+8, 2024 FOMC voting member and Atlanta Fed President Raphael Bostic, along with Federal Reserve Governor Lisa Cook, will co-host a meeting.On Wednesday at 06:15 UTC+8, Bostic, Richmond Fed President Thomas Barkin, and 2025 FOMC voting member Susan Collins will participate in a panel discussion. At 20:15 UTC+8, the ADP employment numbers for September will be announced. Following this, at 21:00 UTC+8, Cleveland Fed President Loretta Mester, a 2024 FOMC voting member, will give a speech. At 22:05 UTC+8, St. Louis Fed President James Bullard, a 2025 FOMC voting member, will deliver opening remarks at an event. At 23:00 UTC+8, Federal Reserve Governor Michelle Bowman will also speak.On Thursday at 20:30 UTC+8, the initial jobless claims for the week ending September 28 will be released. Later, at 22:40 UTC+8, Minneapolis Fed President Neel Kashkari and Atlanta Fed President Raphael Bostic will engage in a fireside chat on inclusive economics.On Friday at 20:30 UTC+8, the non-farm payrolls for September will be published, followed by the unemployment rate for September. At 21:00 UTC+8, New York Fed President John Williams, a permanent FOMC voting member, will deliver opening remarks at a New York Fed event.
The U.S. Federal Reserve's core Personal Consumption Expenditures (PCE) price index, regarded as the Fed's preferred inflation gauge, is set to be released at 20:30 tonight, according to Jinshi Data. Market expectations are leaning towards positive news, with hopes that the data will show a continued slowdown in consumer spending.Following recent statements from Federal Reserve officials, tonight's report will be closely monitored to see if it supports increasing expectations for potential interest rate cuts. This could lead to significant market volatility, and investors are advised to be cautious of potential risks.
According to Foresight News, Web3 football game Sorare has been accused of unlicensed gambling by the UK Gambling Commission. The commission stated that Sorare is alleged to have provided gambling facilities without holding an operating license, which is a violation of the 2005 Gambling Act. A court hearing is scheduled for October 4.Sorare has contested the allegations, arguing that the law has been misapplied. The company stated, 'The commission has misunderstood our business and incorrectly believes that gambling laws apply to Sorare. We firmly deny any claims that Sorare is a gambling product under UK law.' Sorare is a football fantasy league game that utilizes the Ethereum blockchain, allowing players to trade football cards.
According to Odaily, Fox Business journalist Eleanor Terrett revealed on the X platform that a former SEC lawyer, who recently left the agency, indicated that the SEC might appeal Judge Torres' ruling in the Ripple case from July 2023. The former lawyer mentioned that the decision to appeal is driven by a strong belief within the SEC that the ruling was incorrect and should be contested. The deadline for the SEC to file an appeal is October 7.
According to BlockBeats, Morocco has announced the launch of its 'Digital Morocco 2030' strategy, allocating a budget of $1.1 billion. The initiative aims to transform the country into a global digital hub through the integration of artificial intelligence (AI) and blockchain technology. By 2030, the strategy seeks to create 240,000 new jobs in the digital sector, increase digital export revenues to 40 billion dirhams (approximately $4.15 billion), and boost the overall contribution of the digital economy to 100 billion dirhams (around $10.36 billion).The Moroccan government plans to utilize blockchain technology to develop a unified administrative service portal, which will manage services related to healthcare, education, and social security. Additionally, AI systems will be employed to analyze and process data in real-time, enhancing the quality of these services. The strategy also includes increasing 5G coverage to 70% of the country's land area, establishing 3,000 startups, and attracting global AI and blockchain technology companies to set up operations in Morocco, thereby contributing to the nation's growing tech ecosystem.
According to BlockBeats, on September 27, Federal Reserve Governor Cook expressed her wholehearted support for the Fed's recent decision to cut interest rates by 50 basis points. In her prepared remarks at Ohio State University on Wednesday, Cook cited a slowing labor market and easing inflation as key reasons for the rate cut. She emphasized that this decision reflects the Fed's growing confidence in maintaining a robust labor market while achieving moderate economic growth and sustainable inflation reduction through appropriate policy adjustments.Cook's speech also focused on the implications of artificial intelligence (AI) for American workers. She highlighted that AI has the potential to significantly and sustainably boost labor productivity. While acknowledging that AI might lead to job displacement, Cook also pointed out that it could create new job opportunities.