Noticias

According to Odaily, Gary Gensler, the current Chair of the U.S. Securities and Exchange Commission (SEC), reiterated his call for cryptocurrency exchanges to adhere to regulations during the annual securities regulation conference on Thursday. He emphasized the necessity for projects selling securities to provide appropriate disclosures. Gensler highlighted that among the approximately 10,000 digital assets in circulation, most, except for Bitcoin, Ethereum, and stablecoins, could potentially be classified as securities. The potential securities in the crypto market are valued at around $600 billion, representing less than 0.25% of the global capital markets. Gensler's remarks come in the wake of Donald Trump's election as President, who had previously stated his intention to dismiss Gensler upon taking office. Despite this, Gensler may choose to remain as an SEC commissioner after his term as Chair concludes. His comments underscore the ongoing regulatory challenges facing the cryptocurrency industry, as the SEC continues to push for greater transparency and compliance within the rapidly evolving digital asset landscape.

According to Odaily, Ed Yardeni, President of Yardeni Research, has emphasized the importance of the Federal Reserve's interest rate strategy in maintaining the strength of the U.S. dollar. Yardeni suggests that the Fed may need to halt interest rate cuts to ensure the dollar remains robust. He highlights the solid performance of the U.S. economy and notes that Yardeni Research has consistently held a positive outlook on the dollar.A few months ago, the dollar experienced a decline as market expectations leaned towards multiple interest rate cuts by the Federal Reserve. Yardeni argues that such a move would be a mistake. He points out that both the U.S. Treasury market and the dollar's performance support his perspective. By stopping or reducing interest rate cuts, Yardeni believes the Federal Reserve can contribute to sustaining the dollar's strength.

According to BlockBeats, on November 14, former President Donald Trump announced the appointment of Elon Musk to head a newly established Government Efficiency Department. This decision has sparked significant debate, with Ulrich Leuchtmann, Head of Foreign Exchange and Commodity Research at Deutsche Bank, expressing concerns about the potential impact on the U.S. economy. Leuchtmann argues that Musk's approach, which often eschews gradual and cautious methods, could lead to disastrous outcomes. He questions the wisdom of creating such a department if its recommendations are unlikely to be implemented, suggesting that it could portray the president as indecisive, a scenario Trump would likely want to avoid.Leuchtmann further elaborates on the economic implications, noting that the aggressive austerity measures proposed could be strategically used to bolster the U.S. dollar. By significantly reducing the capital needs of the U.S. Treasury, the overall capital demand of the economy would decrease, potentially making U.S. Treasury bonds scarce and expensive. However, he cautions that the initial impact on the dollar might be overshadowed by an inevitable expansionary monetary policy response. This complex interplay of economic strategies and political maneuvers highlights the challenges and uncertainties surrounding Musk's appointment and the broader implications for the U.S. economy.

According to Odaily, Federal Reserve Governor Kugler on Thursday strongly defended the independence of central banks, asserting that keeping monetary policy decisions free from political influence can improve inflation outcomes. Kugler emphasized that central bank independence is fundamental to achieving low inflation, particularly in developed economies. She highlighted the importance of transparency and accountability as part of maintaining credibility.Kugler used the Federal Reserve as an example, noting that officials, including Fed Chair Powell, strive to clearly communicate the Fed's goals and actions. "Monetary policy operates, in part, by attempting to influence public perceptions of future economic conditions, so it is crucial to clearly convey these intentions," she stated. This clarity helps build credibility by legitimizing decisions and can make policy decisions more effective. Kugler added, "If a central bank acts in a way that convinces the public it is actively pursuing its stated goals, the central bank will be more credible."

According to Odaily, Federal Reserve Governor Kugler has indicated that if progress in reducing inflation stalls, the Federal Reserve may need to pause its rate cuts. Kugler emphasized that a gradual reduction in interest rates would be appropriate if the labor market shows signs of weakening. He noted that the labor market has rebalanced and is generally cooling down, while significant progress has been made in controlling inflation.Kugler's comments come amid ongoing discussions about the Federal Reserve's monetary policy strategy. The central bank has been closely monitoring economic indicators to determine the appropriate course of action. The potential pause in rate cuts reflects concerns about maintaining economic stability and ensuring that inflation continues to decrease. The Federal Reserve's approach aims to balance the need for economic growth with the goal of achieving stable prices.The labor market's current state plays a crucial role in the Federal Reserve's decision-making process. As the market shows signs of cooling, the central bank is considering the implications for future policy adjustments. Kugler's remarks highlight the importance of a cautious approach to interest rate changes, ensuring that any adjustments align with broader economic objectives. The Federal Reserve remains committed to its dual mandate of promoting maximum employment and stable prices, navigating the complexities of the current economic landscape.

According to Odaily, a survey conducted by Bank of America prior to the election night indicated that 25% of fund managers anticipated a 'no landing' scenario for the U.S. economy over the next 12 months and during a potential Trump 2.0 era. This scenario suggests that the economy would not experience a significant slowdown, inflation would not continue to decline, and might even rebound, necessitating another rise in interest rates.Following the announcement of the election results, the proportion of fund managers expecting this 'no landing' scenario increased to 33%. This shift reflects growing concerns about the economic trajectory, where the absence of a slowdown could lead to persistent inflationary pressures. The potential for interest rates to rise again underscores the challenges faced by policymakers in balancing economic growth with inflation control. The survey highlights the uncertainty surrounding the U.S. economic outlook and the implications of political developments on financial markets.

According to Cointelegraph, the cryptocurrency industry is optimistic about potential regulatory clarity in the United States following the election of Senator John Thune of South Dakota as the new Senate majority leader. Thune secured the position on November 13, defeating Senator Rick Scott of Florida, who had been endorsed by Elon Musk. In his victory speech, Thune emphasized his commitment to revitalizing the American economy by reducing bureaucratic hurdles and reversing costly regulations imposed by the Biden-Harris administration. Thune's election is seen as a positive development by the crypto community, as he has previously shown support for expanding the jurisdiction of the US Commodity Futures Trading Commission (CFTC) over cryptocurrency regulation. This approach is viewed as an alternative to the current regulatory framework under the US Securities and Exchange Commission (SEC). In 2022, Thune co-sponsored the Digital Commodities Consumer Protection Act (DCCPA), a bill aimed at extending the CFTC's regulatory powers over cryptocurrencies. The bill identified major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) as digital commodities, suggesting that the CFTC should be the primary regulatory authority, thereby challenging the SEC's current oversight. The crypto community has hailed the DCCPA as a significant step towards achieving regulatory clarity, although they acknowledge that further refinements are necessary. In addition, Thune voted in favor of overturning the SEC's Staff Accounting Bulletin No. 121 (SAB 11), which mandates that crypto custodians record customer assets as liabilities on their balance sheets. This stance has been highlighted by Coinbase's lobbying group, Stand With Crypto, which describes Thune as a "strong crypto supporter." Despite Thune's alignment with President-elect Donald Trump's priorities, Trump did not endorse any candidate in the majority leader race. Thune has previously criticized Trump during the 2016 presidential campaign. Meanwhile, several of Trump's allies, including Tesla CEO Elon Musk, conservative commentator Tucker Carlson, and Robert F. Kennedy Jr., supported Scott in the race. Scott has also been active in the crypto space, having collaborated with pro-Bitcoin Senator Cynthia Lummis to propose legislation allowing US retirement plans to include cryptocurrency investments. The crypto community remains hopeful that Thune's leadership will foster a more favorable regulatory environment for digital assets in the United States.

According to BlockBeats, on November 14, Jack, the deputy editor of BlockBeats, discussed the recent developments in U.S. cryptocurrency regulation during a recording of the Silicon Valley 101 podcast. In May, the "FIT for the 21st Century Act" was passed by a bipartisan vote in the U.S. House and Senate. This legislation aims to clarify the regulatory framework for cryptocurrencies, distinguishing between what constitutes a cryptocurrency and what is considered a security. This clarity is crucial for market regulation in the crypto sector. However, the bill still requires the President's signature to become law, which is expected to occur once Trump assumes office.Jack further explained that Trump's presidency is anticipated to bring immediate changes by slowing down the SEC's regulatory actions against cryptocurrencies. Many crypto institutions, particularly market makers, have temporarily exited the crypto space due to SEC lawsuits. The anticipated "SEC regulatory slowdown" could encourage these institutions to return, enhancing market liquidity. Additionally, this regulatory easing might create a more favourable environment for crypto companies to pursue IPOs during Trump's term, potentially leading to an increase in the number of crypto firms seeking public listings.However, it is important to note that many analysts believe the "FIT for the 21st Century Act" may not be enacted by 2025. The priority of crypto regulation is considered lower than tax reform and trade issues. In the early stages of Trump's presidency, the focus might be on more pressing matters. If progress is smooth, there could be an acceleration in advancing crypto regulatory issues in the latter half of the current Congress.

According to BlockBeats, on November 14, analysts from the International Institute of Finance (IIF) expressed concerns about the economic policies of the incoming U.S. president. The analysts highlighted that the proposed tax cuts, intended to reduce inequality without corresponding spending cuts, could lead to a significant increase in U.S. national debt. Currently, the debt stands at approximately 100% of GDP, but projections suggest it could exceed 135% within the next decade.The IIF also warned of potential inflationary pressures. The incoming president's strategy includes imposing tariffs on foreign-manufactured goods, which could drive up spending and make imports more expensive. With the U.S. national debt nearing $36 trillion, the IIF cautioned that if the tax cuts result in greater-than-expected losses for the U.S. Treasury, the debt could surpass 150% of GDP.Furthermore, the IIF pointed out the heavy reliance of U.S. sectors such as agriculture, construction, and healthcare on immigrant workers. The analysts noted that any measures to curb immigration under the new administration could exert additional upward pressure on prices, potentially exacerbating inflationary trends.

According to BlockBeats, Nick Timiraos, a prominent journalist from The Wall Street Journal, recently reported that consumer prices in October showed a slight increase after recording the slowest growth in three and a half years last month. This indicates that inflation continues to decline on an uneven and challenging path. The latest report may not be sufficient to prevent the Federal Reserve from implementing another rate cut in December. However, the combination of robust consumer spending and stable hiring could spark a more significant debate among officials at their next meeting about whether to slow the pace of rate cuts early next year.If Federal Reserve officials proceed with a rate cut in December, the focus may shift to the reasons that could prompt them to slow down the rate cuts next year. Several officials expressed on Wednesday their desire to avoid lowering rates too much to prevent the need for a policy reversal. This ongoing discussion highlights the complexities the Federal Reserve faces in balancing economic growth with inflation control, as they navigate the current economic landscape.

According to Odaily, Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, has long been a vocal critic of Bitcoin and other cryptocurrencies, labeling them as "worthless," "fraudulent," and "meaningless." However, Kashkari has recently indicated a shift in his perspective, stating that he is open to reconsidering his views. Despite this openness, he continues to question the significance of cryptocurrencies.Kashkari pointed out that the cryptocurrency industry has been around for a considerable time but has not achieved widespread adoption, suggesting a lack of practicality. He questioned the role of cryptocurrencies in the real economy, asking, "What actual function does it serve beyond being a speculative asset? It's been over a decade." His comments reflect ongoing skepticism about the practical applications of cryptocurrencies, despite their increasing presence in financial discussions. Bitcoin's white paper was released 16 years ago, marking the beginning of the cryptocurrency era. Kashkari's evolving stance highlights the ongoing debate about the role and value of digital currencies in the global economy.

According to BlockBeats, the UK government is set to unveil its plans for regulating the cryptocurrency industry later this month. This move aims to address the growing appeal of the US crypto market under the leadership of Donald Trump and to reassure businesses about their prospects in the UK.Sources familiar with the matter have indicated that the UK Treasury is preparing to introduce two pieces of legislation concerning stablecoins. Additionally, there are plans to include exemption clauses for cryptocurrency providers, allowing them to exclude so-called staking services from current financial regulations.Following Trump's election victory, the cryptocurrency sector celebrated, leading to a surge in asset prices, including Bitcoin. In response, the UK has decided to advance its cryptocurrency regulatory framework. The concern for the UK is that startups might opt for other jurisdictions, such as the US, where the rules are perceived to be clearer or more favorable.

According to BlockBeats, on November 14, the Republican Party in the United States has successfully secured enough seats to gain control of the House of Representatives. This victory marks a significant achievement for the party, as it ensures their dominance over both chambers of Congress and the White House.Earlier, the Republican Party had already gained control of the Senate, further solidifying their political influence in the U.S. government. This development is expected to have substantial implications for the legislative agenda and policy direction in the coming years, as the Republicans now hold a majority in both the House and the Senate. The party's control over Congress is likely to impact various aspects of governance, including economic policies, healthcare reforms, and foreign relations.The Republican victory in the House of Representatives is seen as a pivotal moment in U.S. politics, potentially shaping the legislative landscape and influencing the country's political dynamics. With control over both chambers, the Republicans are in a strong position to advance their legislative priorities and address key issues facing the nation. This outcome also sets the stage for potential changes in the political climate, as the party seeks to implement its agenda and respond to the challenges ahead.

According to Odaily, former President Donald Trump is reportedly considering Todd Blanche for the position of Deputy Attorney General at the U.S. Department of Justice. This potential appointment comes amid ongoing discussions and evaluations within Trump's circle as he continues to shape his legal team and strategy.Blanche, who has a background in law and has been involved in various legal proceedings, is being considered for this significant role within the Justice Department. The decision to potentially appoint Blanche reflects Trump's focus on assembling a team that aligns with his legal and political objectives. This move is part of a broader effort to influence the direction of the Justice Department, which plays a crucial role in the enforcement of federal laws and the administration of justice in the United States.The consideration of Blanche for this role highlights the ongoing developments in Trump's post-presidency activities, as he remains a prominent figure in American politics. The decision is yet to be finalized, and it remains to be seen how this potential appointment will impact the dynamics within the Justice Department and the broader legal landscape in the country.

According to Odaily, Polymarket CEO Shayne Coplan has addressed the recent investigation by the U.S. Department of Justice into the platform. In a statement on X, Coplan expressed disappointment with the current administration's actions, suggesting that they are targeting companies perceived to be linked with political opponents. He emphasized Polymarket's commitment to maintaining a non-partisan stance, urging the government to reflect on adopting more business-friendly and entrepreneurial approaches that could potentially influence their electoral outcomes.Coplan highlighted the value Polymarket has provided to millions during the current election cycle, asserting that the platform has operated without causing harm. He expressed pride in the company's achievements and optimism about the future of American entrepreneurship. Despite the challenges posed by the investigation, Coplan affirmed Polymarket's dedication to continued development and innovation, underscoring a bright outlook for the future of U.S. businesses.

According to Decrypt, Shayne Coplan, CEO of Polymarket, was subjected to a law enforcement raid on Wednesday, as confirmed by the company. The raid, which took place in Manhattan, New York, involved the seizure of Coplan's phone and electronics. The company described the incident as an act of "political retribution," following Polymarket's accurate prediction of the 2024 presidential election outcome, where bettors on the platform foresaw a victory for Republican Donald Trump.The New York Post initially reported the raid, noting that FBI agents were involved, although no specific reason for the raid was provided. Despite the seizure of his electronics, the 26-year-old CEO was not arrested. A spokesperson for Polymarket emphasized the platform's transparency, stating that it serves as a prediction market to help individuals gain insights into significant events. The platform claims to operate without charging fees or taking trading positions, allowing global observers to analyze market data as a public resource.This story is developing, and further details are expected to emerge as the situation unfolds.

According to Cointelegraph, President-Elect Donald Trump is in the process of selecting cabinet members for his upcoming administration in 2025, with the position of Treasury Secretary reportedly being contested between Scott Bessent and Howard Lutnick, CEO of Cantor Fitzgerald. Initially, Bessent was considered the frontrunner for the role, as reported by Fox Business reporter Eleanor Terrett, who noted that Bessent was "all but certain" to secure the position as of November 13. Bessent, a pro-crypto asset manager, was seen as a likely choice alongside hedge fund manager John Paulson. However, Paulson withdrew from consideration due to "complex financial obligations," leading to Lutnick emerging as a strong contender for the Treasury Secretary position.Both Lutnick and Bessent are known for their supportive stance on cryptocurrencies, advocating for the United States to embrace and develop the digital asset sector. Lutnick, in particular, has a notable history of supporting cryptocurrencies. Under his leadership, Cantor Fitzgerald has been the custodian of Tether's Treasury portfolio since 2021 and took on the role of custodian for Tether's bond portfolio in 2023. Lutnick has been vocal about his support for cryptocurrencies, praising Tether and Bitcoin for their unique attributes, such as Bitcoin's lack of central authority and censorship-resistant properties. In December 2023, he highlighted these features as distinguishing Bitcoin from other digital assets.Lutnick's involvement in Trump's transition team, alongside Linda McMahon, co-founder of World Wrestling Entertainment and administrator of the Small Business Administration, further underscores his influence in the crypto space. Alexander Grieve, vice president of government affairs at crypto investment firm Paradigm, emphasized Lutnick's significance in the crypto community, noting his briefing to the House Republican Conference on stablecoins and his bullish stance on cryptocurrencies. In September 2024, Lutnick argued for Bitcoin to be classified as a commodity, akin to precious metals or energy, and criticized US regulators and lawmakers for their lack of understanding of digital assets, stating that "they have no idea" about coherent digital asset policy.

According to Odaily, the CME's "FedWatch" tool indicates a 24.3% probability that the Federal Reserve will maintain its current interest rates through December. There is a 75.7% likelihood of a cumulative 25 basis point rate cut by the end of the year. These probabilities were previously 37.9% and 62.1%, respectively, before the release of the Consumer Price Index (CPI).Looking ahead to January, the probability of the Federal Reserve keeping interest rates unchanged is 16.5%. Meanwhile, there is a 59.2% chance of a cumulative 25 basis point rate cut and a 24.3% probability of a 50 basis point reduction. Prior to the CPI announcement, these probabilities stood at 26.5%, 54.9%, and 18.6%, respectively. These figures reflect market expectations and potential monetary policy adjustments in response to economic indicators.

According to BlockBeats, on November 13, Minneapolis Federal Reserve Bank President Neel Kashkari commented on the recent Consumer Price Index (CPI) data release. Kashkari stated that there are currently no clear signs of rising inflation risks. He emphasized that the more significant concern lies in the potential for the economy to stagnate.Kashkari's remarks come at a time when economic indicators are closely monitored for signs of inflationary pressures. The CPI data, which measures changes in the price level of a basket of consumer goods and services, is a critical indicator for assessing inflation trends. Despite the absence of immediate inflation threats, Kashkari highlighted the importance of remaining vigilant about economic conditions that could lead to stagnation.The Federal Reserve has been navigating a complex economic landscape, balancing efforts to stimulate growth while keeping inflation in check. Kashkari's comments reflect a cautious approach, acknowledging the challenges of maintaining economic momentum without triggering inflation. As policymakers continue to analyze economic data, the focus remains on ensuring a stable economic environment that supports sustainable growth.

According to BlockBeats, asset management firm VanEck announced on November 13 the launch of its SUI ETN product on the Euronext exchanges in Amsterdam and Paris. This new financial product enables investors to participate in the development of the Sui ecosystem without the need to directly hold SUI tokens.The SUI ETN is now available for trading across 15 European countries, including Austria, Switzerland, Germany, Denmark, Spain, Finland, France, and Italy. This expansion allows a broader range of investors to engage with the Sui ecosystem, offering a convenient and accessible way to invest in this growing sector. The introduction of the SUI ETN marks a significant step for VanEck in providing innovative investment solutions in the digital asset space.