Digital asset investment products experienced $16 million in capital outflows last week, ending 11 consecutive weeks of net inflows
According to the latest "Digital Asset Fund Flow Weekly Report" released by CoinShares on December 18th, digital asset investment products recently experienced a small-scale capital outflow of a total of $16 million, ending the trend of continuous capital inflows for 11 weeks. However, trading activity is still far higher than the average level this year, with a total trading volume of $3.6 billion last week.
US CFTC Chairman States Many Cryptocurrencies Are Considered Commodities Under Current Laws, Calls for Clear Regulatory Guidelines
The chairman of the US Commodity Futures Trading Commission (CFTC), Rostin Behnam, has stated that many cryptocurrencies are considered commodities under current laws, including Ethereum and stablecoins. However, there is a lack of clear regulatory guidelines, which is hindering businesses operating in the crypto industry in the US. Behnam has emphasized the need to figure out how existing laws fit into this new technology and the necessity for a new way of thinking around policy and legislation. The differing views of the CFTC and the Securities and Exchange Commission (SEC) have led to a regulatory dispute, causing uncertainty and discouraging some crypto companies from continuing business in the US.
Former PayPal President: Fair value measurement removes a major obstacle for companies to hold Bitcoin on their balance sheets
David Marcus, former president of PayPal, said that the new fair value accounting rules for cryptocurrencies in the United States are "actually a big deal," which eliminates a major obstacle for companies holding Bitcoin on their balance sheets.
Alchemy Pay expands services to Europe and UK, allowing users to acquire cryptocurrencies seamlessly
Cryptocurrency payment solution provider Alchemy Pay has expanded its payment options in Europe and the UK, allowing users to quickly execute transfers and seamlessly access cryptocurrencies, available for users who have successfully completed KYC processes in 30 European countries and the UK.
MetaMask iOS mobile version releases version 7.12.0, allowing users to exchange cryptocurrencies for cash within the app
On December 5th, MetaMask released version 7.12.0 for its iOS mobile app. The new Sell feature allows for seamless conversion of cryptocurrency to cash within the MetaMask app, which can then be transferred to the user's bank account or debit card. Additionally, the new version includes UI and experience improvements, better application interaction, updated communication capabilities, bug fixes, and performance optimizations.
Coinbase CEO: Fiat currencies and cryptocurrencies will coexist for a long time
Coinbase CEO Brian Armstrong said that Bitcoin and cryptocurrency may be key to continuing Western civilization.
Australia’s nearly 612,000 self-managed super funds hold a total of A$992 million in cryptocurrencies
According to statistics released by the Australian Taxation Office (ATO) on November 26, as of the end of the third quarter in September, nearly 612,000 self-managed superannuation funds (SMSFs) held a total of $658.6 million (approximately AUD 992 million) in cryptocurrency, a 400% increase compared to the same period in 2019 ($131.5 million, approximately AUD 198 million).
Coinbase CEO: Met with SEC 30 times in the past 18 months, no clear feedback
Brian Armstrong, CEO of cryptocurrency exchange Coinbase, stated that despite the company's attempts to seek clarification from regulatory authorities, it is still facing criticism from the SEC. He stated that Coinbase has met with the SEC 30 times in the past 18 months. He said, "Apart from Bitcoin, we haven't really received any feedback from them about which assets they believe are securities and which are not. All we received was a Wells notice." Armstrong said that if the company cannot obtain clarification from the SEC, "we need to use the courts to establish precedent," and he also hopes that "Congress will take action and pass new legislation," mentioning two bills currently under consideration in the House of Representatives.
Arthur Hayes: Will continue to move funds from short-term U.S. Treasury bonds into cryptocurrencies
According to Lookonchain statistics, Arthur Hayes, co-founder of BitMEX, stated in a post that he will continue to transfer funds from US short-term bonds to cryptocurrencies. On February 7th, Arthur Hayes announced that he would raise cash to buy Bitcoin, and since then he has published seven articles bullish on Bitcoin.
The total market value of cryptocurrencies across the entire network has risen above US$1.5 trillion
According to CoinGecko data on November 25th, the total market value of cryptocurrencies across the entire network has rebounded to $1.507 trillion, with a 24-hour increase of 2.9%.
