ChainCatcher news, Spartan Group analysis indicates that in the 2024 U.S. presidential election, Trump not only won the election with an overwhelming advantage, but the Republican Party also took control of both the Senate and the House of Representatives. This victory provides significant leverage for driving policy changes, and it is expected to be very favorable for the crypto industry in the next 12 months.The article points out that the difference in this election lies in the importance of the crypto agenda. Trump and his core advisors are crypto-friendly, and crypto companies provided substantial support during the election. Additionally, Trump expressed a desire for the U.S. to become a global crypto hub. Currently, the U.S. is a leader in crypto infrastructure, mining, and trading, but the new government's policies may further solidify this position.Historical data shows that the 12 months following a U.S. election are typically a strong performance period for crypto assets. The clarity of policies resulting from the election and the overlapping effects of the BTC halving cycle may shift market sentiment towards risk appetite, particularly benefiting the performance of small and medium-sized tokens. Spartan Group believes that as the "altcoin season" approaches, the crypto market will see more upward potential in the coming year.

ChainCatcher news, according to Cryptonews, South Korean Deputy Prime Minister Choi Sang-mok claimed that the government does not hold a negative attitude towards cryptocurrency-related matters.Choi Sang-mok stated: "Since the specific details of the strategic cryptocurrency asset proposal by the incoming President Trump have not yet been announced, now is not the time for evaluation. We plan to prepare responses and other measures after the new U.S. government takes office. We will take action after these and other new proposals related to cryptocurrency assets are specified. The government does not hold a negative attitude towards cryptocurrency assets. As regulations and related systems are still in their infancy, we have decided to postpone the introduction of cryptocurrency taxes. We believe that monitoring the progress of regulations should come before introducing taxation."Choi Sang-mok further claimed that the South Korean central bank, financial regulatory agencies, and "other relevant departments" are currently "formulating new regulatory policies" for the cryptocurrency sector. These concerns "not only focus on customer protection" but also on the "legal nature" of cryptocurrency.

ChainCatcher news, the Hong Kong government recently announced that it has committed to implementing a crypto asset reporting framework (reporting framework) to enhance international tax transparency and combat cross-border tax evasion, as stated to the OECD Global Forum on Tax Transparency and Exchange of Information.In light of the rapid development of the crypto asset market, the OECD published the reporting framework in June 2023 to ensure the maintenance of global tax transparency. As an extension of the existing "Common Reporting Standard for Automatic Exchange of Financial Account Information on Tax Matters," the reporting framework establishes a similar mechanism for users or controllers of crypto assets to automatically exchange tax-related information on crypto asset accounts and transactions with the tax jurisdiction of their tax residents each year.To ensure the fair and effective global implementation of the reporting framework, the Global Forum has invited all relevant crypto asset industries and tax jurisdictions identified as directly related to the reporting framework (including Hong Kong) to implement the reporting framework.Hong Kong has committed to implementing the reporting framework with suitable partners on a reciprocal basis, with those partners required to meet standards for data confidentiality and security. Considering the latest timeline established by the Global Forum, the government plans to complete the necessary local legislative amendments by 2026 or earlier, and to begin the first automatic exchange of information under the reporting framework with relevant tax jurisdictions starting in 2028.

ChainCatcher news, on-chain analyst ZachXBT revealed that the LastPass attackers targeted over 40 victim addresses, stealing approximately $5.36 million in crypto assets. The attackers then exchanged the stolen funds for ETH and attempted to obscure the flow of funds by transferring assets across chains from the Ethereum network to the Bitcoin network through multiple instant exchanges.

ChainCatcher news, according to a report by Reuters, Goldman Sachs CEO David Solomon, when asked about his views on cryptocurrencies and whether banks can trade cryptocurrencies, stated that regulations need to change to allow banks to do so. "This is a question you have to ask the regulators. Currently, as a regulated banking institution, we are not allowed to hold cryptocurrencies like Bitcoin as principal. We provide advice to clients on various technologies and issues and will continue to do so, but at the moment, from a regulatory perspective, our ability to act in these markets is extremely limited."

ChainCatcher news, according to Forbes, hardware wallet manufacturer Ledger has sold over 7 million devices and currently manages about 20% of the world's crypto assets, valued at approximately $400 billion.Ledger CEO Pascal Gauthier stated that the company is expanding from cryptocurrency security to a broader cybersecurity field. The Security Key application launched in September this year has entered the authentication market, which is expected to reach a market size of $40 billion by 2030.It is worth noting that Ledger has completed a total of $600 million in financing, including $380 million in Series C funding in 2021 at a valuation of $1.5 billion, and an additional $108 million in financing at the same valuation in early 2023.

ChainCatcher news, according to The Block, the Consumer Financial Protection Bureau (CFPB) finalized a rule this Thursday that grants it the authority to regulate "large non-bank companies," but explicitly excludes crypto assets. The CFPB stated that this rule only applies to transactions denominated in U.S. dollars.The new rule is titled "Defining Larger Participants in the Market for General Digital Consumer Payment Applications" and applies to non-bank financial companies that process more than 50 million transactions annually, requiring them to comply with the same rules as large banks and credit unions. The CFPB emphasized that the definition of "annual covered consumer payment transaction volume" is limited to transactions denominated in U.S. dollars and does not include digital assets such as Bitcoin and stablecoins.The crypto industry and some Republican lawmakers had previously expressed concerns about the potential impact of the rule on crypto assets. The DeFi Education Fund welcomed this and stated that the regulation of digital assets should be led by Congress, not regulatory agencies.

ChainCatcher message states that according to South Korea's "Virtual Asset User Protection Act," exchanges must notify users in advance of the reasons for blocking deposits and withdrawals. However, the Financial Supervisory Service's latest "Non-Action Opinion" indicates that in emergencies such as hacking attacks, money laundering, or fraud, exchanges may delay notification and prioritize implementing deposit and withdrawal restrictions.At the same time, the regulation adds strict conditions: a comprehensive assessment must be made to determine whether the reasons for the restrictions are foreseeable and the necessity of delaying notification. For special requests made by administrative or investigative agencies, the Financial Supervisory Service also emphasizes that, without justifiable reasons, the principle of prior notification must still be upheld to protect investors' rights from being infringed.

ChainCatcher news, according to Hong Kong media East Network, the Hong Kong Securities and Futures Commission (SFC) discussed regulatory guidelines for crypto assets, tokenization, and artificial intelligence with representatives from 12 Asia-Pacific securities market regulatory agencies.In addition, the Hong Kong SFC also hosted the first meeting of the International Organization of Securities Commissions (IOSCO) Asia-Pacific Committee's Supervisory Directors Network, where, in addition to discussions, there was sharing of the latest market developments and observations from the business community. A commercial bank also conducted a live demonstration of artificial intelligence applications.

ChainCatcher news, according to monitoring by IntoTheBlock, USDT and USDC currently account for nearly 50% of the total trading volume of major crypto assets, highlighting the key role that stablecoins play in providing liquidity and stability to the market.

ChainCatcher news, Binance CEO Richard Teng commented on the expectations of interest rate cuts, stating, "We expect that the expectations of interest rate cuts will have a significant impact on the prices of crypto assets. Lower interest rates enhance the liquidity of the financial system, thereby boosting the demand for high-yield, high-risk assets, including cryptocurrencies. For example, from February 2020 to February 2022, when interest rates were near zero, the price of Bitcoin increased by 375%.Lower interest rates may raise concerns about inflation, prompting some investors to turn to cryptocurrencies to protect their purchasing power; low rates may also weaken the dollar, leading more investors to view crypto assets as an alternative store of value. Bitcoin and other crypto assets have unique characteristics that may influence their prospects during periods of interest rate cuts. One key factor to consider is the recent Bitcoin halving, as historically, price increases have generally occurred 6-18 months after similar events. The launch of spot ETFs could also facilitate easier transitions between stocks and cryptocurrencies, allowing the liquidity growth brought by interest rate cuts to flow into the crypto market.Moreover, while September is typically a weak month for crypto assets, prices usually begin to rebound in October, and the expectations of interest rate cuts may provide additional momentum as prices recover. The impact of the Federal Reserve's interest rate cuts on the crypto asset market remains uncertain, but several indicators suggest that the policy changes in September may be timely for cryptocurrency investors. Lower borrowing costs and increased liquidity present a hopeful outlook for crypto assets. Historical trends and unique cryptocurrency-specific variables further enhance optimism that these policy changes could foster growth."

ChainCatcher news, according to The Block, Bitwise's Head of Research for Europe, André Dragosch, stated: "If the Federal Reserve cuts rates by 50 basis points, the reaction in the crypto market could be positive, as this particular leading indicator has already shown that potential economic momentum in September may even have accelerated. I believe that in the coming months, the market will be driven more by expectations of rate cuts rather than the cuts themselves. Given the weakness of the U.S. economy and the impending recession, expectations for further rate cuts may intensify, and we anticipate this will have a net positive effect on Bitcoin and crypto assets."

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal disclosed that in footnote 6 of the amended complaint submitted by the SEC against Binance, it states: "As this Court pointed out and the SEC reiterated, when the SEC uses the term 'crypto asset securities,' it does not mean that the crypto assets themselves are securities; rather, as the SEC has consistently maintained since the first crypto asset Howey case, the term is merely a shorthand.See Telegram case, while it is helpful as a shorthand reference, the securities in the case are not just crypto assets; they are merely an alphanumeric code sequence. The securities in the case include the complete contracts, expectations, and understandings surrounding the sale and distribution of crypto assets.However, to avoid any confusion, the amended complaint no longer uses this shorthand term, and the SEC regrets any potential confusion."

ChainCatcher news, regarding Coinbase Chief Legal Officer Paul Grewal's post on platform X disclosing that the SEC previously made misleading statements about the classification of tokens, specifically noted in footnote 6 of Binance's amended complaint that "the SEC regrets any confusion it may have caused," referring to the SEC's earlier erroneous declaration that the tokens themselves are securities.Ripple Chief Legal Officer Stuart Alderoty responded that the SEC's actions actually acknowledge two points: first, that "crypto asset securities" is a fictional term; second, that to prove crypto assets are investment contracts, the SEC needs a series of evidence regarding "contracts, expectations, and understandings." He also stated that the SEC has indeed fallen into a contradictory predicament.

ChainCatcher news, according to The Block, the UK government submitted a bill to Parliament on September 11, aiming to officially define crypto assets (including NFTs and RWAs) as property. Minister of State for the Ministry of Justice, Heidi Alexander, stated that previously digital assets were not clearly defined within the property law framework in England and Wales, leaving asset owners in a legal gray area. If the bill is passed, it will introduce a third category of property in addition to the existing "real property" and "rights property," granting specific digital assets personal property rights.Alexander emphasized that the bill aims to maintain the UK's leading position in the global crypto space and attract more businesses and investments. Digital assets contribute £34 billion to the UK economy each year. The bill is a response to the UK Law Commission's 2023 report, which noted that while digital assets do not fall under real property or rights property, they should be regarded as property.

ChainCatcher news, according to Crowdfund Insider, BitGo announced that it has become the custodian under the regulatory framework for crypto assets of the SIX Exchange.It is reported that BitGo Europe will provide regulated custody solutions.