The Federal Reserve discusses the benefits and risks of asset tokenization. The Federal Reserve reports that tokenization may become a larger part of the digital asset ecosystem. The most prominent benefit of "asset tokenization" is to lower barriers to entry into otherwise difficult-to-enter markets and increase the liquidity of that market. The risk is that at sufficiently large scale, tokenized assets can transmit volatility from the cryptoasset market to the cryptotoken’s reference asset market.
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The U.S. Commodity Futures Trading Commission (CFTC) said it will hold a virtual event "Technology and Fraud: Stopping Scams in the Digital World" on October 4. This is part of World Investor Week, October 2-9, which aims to raise awareness of the importance of investor education and protection. Huang Lexin, Director of the Licensing Section and Head of the Financial Technology Group of the Intermediary Department of the Hong Kong Securities and Exchange Commission, said that the establishment of the transition period is to prepare for platforms that have been operating in Hong Kong before June 1 and are preparing to apply for licenses, and to provide reasonable time to adjust internal issues to comply with the requirements. SEC Regulations and Requirements. Regardless of whether there is a transition period, criminals will continue to carry out illegal activities, and the public needs to be vigilant. The Hong Kong Securities and Exchange Commission stated that it will continue to work closely with the Hong Kong SAR government and other regulatory agencies to safeguard investor interests and market confidence on the one hand, and create a convenient business environment on the other to promote Hong Kong through regulated service providers. The Web3 ecosystem grows sustainably and responsibly.
Amazon announced that it will invest up to $4 billion in artificial intelligence startup Anthropic to strengthen competition with competitors in the field of cloud computing. Anthropic was founded in 2021 and received US$580 million in Series B financing in 2022, led by FTX founder SBF. CoinShares reports show that digital asset investment products saw a total outflow of $9 million last week. CPIC Investment Management (Hong Kong) Co., Ltd. (CPIC Asset Management Hong Kong) announced that its existing Type 1 (securities dealing) and Type 4 (advising on securities) regulated businesses have been approved by the Hong Kong Securities and Exchange Commission for upgrading. From now on, CPIC Asset Management Hong Kong can provide distribution and investment advisory services to funds with a virtual asset investment ratio of more than 10%. A hot wallet of HTX (formerly HB) was attacked, resulting in a loss of $7.9 million. Justin Sun: HTX has fully borne the losses caused by hacker attacks, and the user asset security platform is operating normally.
Bitwise has submitted an amendment to its spot BTC ETF application. The major change is the addition of a section that provides a point-by-point justification for the SEC's rejection of its previous applications and studies. Bitwise calls these "objections" and there are 8 objections in this document. Eric Balchunas, senior ETF analyst at Bloomberg, said that Charles Schwab just announced that they will cut the fees of TIPS bond ETF and high-yield ETF to 3 basis points (in line with other investment portfolios), illustrating the cruelty you will see in BTC ETF. Cost war. SEC-registered investment adviser Roundhill Investments said its ETH Futures ETF (ETHX) has a management fee of 0.19%. The current annual fee for grayscale management is 2%. The British Broadcasting Corporation will launch the documentary "Down fall of the Crypto King" by FTX founder SBF at 3:00 on September 26. The genre is documentary and news.
Bernstein, a veteran Wall Street asset manager, said in a research report: Regarding BTC spot ETFs, the U.S. Securities and Exchange Commission (SEC) will not "make up another reason for rejection", but will take a middle road and accept the supervision agreement with Coinbase, because these proposals are made by According to traditional fund managers, and the agreement is signed with regulated exchanges such as Nasdaq, the probability of spot ETFs being approved in early 2024 is greatly increased. The current scale of the crypto fund management industry is approximately US$45-50 billion, and there will be more in the next five years. With capacity exceeding $500 billion, demand will come from investment advisors, wealth and private banking products, and the ability to easily access BTC ETFs in direct brokerage accounts. The current market value of the market is about US$500 billion. After the spot ETF is approved, the increase in funds will be worth looking forward to. Bloomberg ETF analysts believe that BTC ETF will enter a fee competition. The current grayscale management annual fee is 2%, while the management fees of other established asset managers may drop by 90% to expand the market and compete for customers. The Federal Reserve released a report titled "Tokenization: Overview and Financial Stability Implications," which aims to provide background on tokenization and discuss its potential benefits as well as financial stability risks. The Fed said that many projects involving various reference assets are in development, indicating that tokenization may become a larger part of the digital asset ecosystem. The most prominent benefit of asset tokenization is lowering barriers to entry into otherwise difficult-to-enter markets and increasing liquidity in that market. Financial Stability Risks of Tokenization: At sufficiently large scale, tokenized assets can transmit volatility from the cryptoasset market to the reference asset market for the cryptotoken.
To prepare for a rainy day, market participants are discussing the prospects of BTC spot ETFs after approval; regulators are discussing the benefits and risks brought by asset tokens, especially "tokenization" to break market barriers and improve traditional market liquidity. Both seem optimistic. If the new crypto market predicted by "traditional asset management and market regulators" comes true, starting from spot ETFs in 2024, the people who will benefit the most may be the natives of BTC. When discussing the development prospects of Big Pie in more than ten years, the most vocal voices in the past were doubts, but Big Pie has successfully achieved a jump in value every time, so persistence is worth it, just in case it succeeds. Time is coming soon, so you might as well go and have a look. #token2049 #美联储是否加息？ #fdusd #带你看看币安Launchpad #解析cyber
