ChainCatcher news, VanEck's Head of Digital Asset Research Matthew Sigel stated that as the U.S. debt reaches $35 trillion, if central banks adopt Bitcoin as a reserve asset, Bitcoin could reach $3 million by 2050.Former Trump cryptocurrency advisor David Bailey believes that nation-states are about to enter the Bitcoin market and predicts that sovereign funds and central banks will invest billions of dollars monthly.

ChainCatcher news, according to Cointelegraph, the central bank of Norway, Norges Bank, has recognized the European Union's Markets in Crypto-Assets Regulation (MiCA), and the country is evaluating the possibility of adopting a central bank digital currency (CBDC).Kjetil Watne, the project director of Norges Bank's CBDC project, stated that Norway, as a member of the European Economic Area (EEA), welcomes the MiCA framework. However, he noted that the bank is still considering "whether additional regulation is needed to promote financial stability." Norges Bank has "not yet decided" whether to issue a CBDC and is assessing how to "mitigate regulatory gaps associated with decentralized finance."

ChainCatcher news, according to the Securities Times, the Multilateral Central Bank Digital Currency Bridge Steering Committee has issued a statement on promoting the sustainable operation of the currency bridge project, stating that the multilateral central bank digital currency bridge project will be fully taken over by the participating central banks and monetary authorities for continuous development and operation. The currency bridge project team (hereinafter referred to as the "project team") will make every effort to advance the project from the Minimum Viable Product (MVP) stage to full production.Agustín Carstens, General Manager of the Bank for International Settlements (BIS), recently announced that the preliminary exploratory work of the currency bridge project has been completed, and the project has reached a maturity level that can be handed over to the participating parties. BIS has been involved in the currency bridge project for four years, collaborating with several central bank partners and numerous observer members. "This project has been successful enough that we can announce it is ready to graduate from BIS," Carstens said.The Multilateral Central Bank Digital Currency Bridge Steering Committee pointed out in the statement that the project team has successfully advanced the currency bridge project to the sustainable operation of the Minimum Viable Product (MVP) stage and established a sound governance structure and legal framework. Since the project's launch, BIS has provided strong support. Now, the currency bridge project will be fully taken over by the participating central banks and monetary authorities for continuous development and operation, allowing BIS to allocate resources to other early-stage innovative projects.

ChainCatcher news, the word "tariff" has not yet appeared in Trump's victory speech, but he promised during his campaign that tariffs would be an important part of his economic strategy towards allies and competitors. Analysts have expressed their views on the tensions in Europe.ING wrote: "European politicians will wake up to face their fears. Trump's trade agenda regarding a 'level playing field' will severely impact the open economies of the European continent." The Kiel Institute for the World Economy stated: "Trump's economic policy measures may include protectionist tariffs and import restrictions, which will put further pressure on growth in Germany and Europe." Deutsche Bank Research noted: "European stock futures are lower today, and European bond futures are much flatter than U.S. bonds. If the results continue in this direction, the likelihood of the European Central Bank being forced to accelerate rate cuts will increase."

ChainCatcher news, Nomura Securities analysts stated in a report that a victory for Republican Donald Trump in the presidential election would widen the existing policy divergence between the Federal Reserve and the European Central Bank.As the results show Trump returning to the White House, he claimed victory. They stated, "If actual inflation rises, we believe there is a risk that the Federal Reserve under Trump will halt the easing cycle." Meanwhile, they noted that the European Central Bank may be forced to take more aggressive action due to negative impacts on economic growth. However, Nomura Securities analysts indicated that the European Central Bank is very cautious and unlikely to preemptively cut interest rates. Therefore, as long as the data meets their expectations, Nomura Securities expects no 50 basis point rate cut in December. (Jin Shi)

ChainCatcher news reports that, according to the Digital Fiat Currency Research Society, Lu Lei, the Deputy Governor of the People's Bank of China, stated in the preface he wrote for "Monetary Theory" that if central banks can issue currency without limits, then currency is likely to be replaced by other general equivalents—such as digital assets and stablecoins, which are currently experiencing a volatile upward trend in market value. Will this really happen? As someone who has been engaged in research at the central bank for a long time, my instinctive thought is that the urgent issue facing major developed economies is "saving the central bank from the hands of central bankers." Although this idea is by no means the current central bank digital currency (CBDC), as I believe CBDC does not change the institutional implications of monetary increment, is there a digital currency that can overcome the impact of various digital assets, achieve the effects of stablecoins, and maintain the existence of sovereign currency (solving the issue of monetary unity but fiscal decentralization in the euro)?The increasing expense of specific assets (such as digital assets) leads them to their opposite, lacking the liquidity necessary to serve as a general equivalent (i.e., being collected rather than circulated, which is the fate of precious metals exiting currency).In the field of monetary economics prediction and practice, there are two highly respected figures— the recently deceased Robert Mundell and the still unknown Satoshi Nakamoto. The former maintained throughout his life that exchange is a redundant transaction cost concept, experienced the practice of the single currency area theory in the Eurozone, but has not and finds it difficult to realize the utopia of dollarization. The latter has watched helplessly as the Bitcoin he created has evolved into an extremely expensive digital asset; currently, the energy consumed globally each year to mine the last 2 million coins is enough for over a hundred million people to use for more than a year. According to the marginal cost pricing method, the closer Bitcoin gets to being an asset, the further it is from being widely circulated as currency.Currently, digital assets are following the old path of the gold standard, and the concept of stablecoins is merely a "soft version" of the optimal currency area theory's practical proposal; our ideas are not necessarily more brilliant than the White Plan of 1945. It is merely that in the digital age, old wine is being relabeled.

ChainCatcher news, according to Bitcoin Magazine, the Central Bank of Argentina held a live Bitcoin mining exhibition.

ChainCatcher news, the Central Bank of Brazil is currently exploring the possibility of taxing remittances based on stablecoins. According to industry stakeholders, the Central Bank of Brazil is considering incorporating this taxation into the final version of cryptocurrency regulations that will be finalized next year.Local media pointed out that this could be achieved by providing different licenses to cryptocurrency companies based on the services offered. For example, tokenization companies would need to apply for a standard Virtual Asset Service Provider (VASP) license, while companies offering stablecoin exchange services may need to apply for a different license.

ChainCatcher news, the Hong Kong Monetary Authority (HKMA) announced a collaboration with the central banks of Brazil and Thailand to conduct cross-border tokenized transactions, including atomic settlement (DvP) for digital asset trading and wholesale CBDC (PvP).In addition, the Hong Kong Monetary Authority plans to provide a subsidy of up to HKD 2.5 million for digital bond issuance to promote Hong Kong as a tokenized venue.

ChainCatcher news, cryptocurrency exchange platform Gemini has received in-principle approval from the central bank of Singapore to offer certain services in the country. On October 29, the Monetary Authority of Singapore (MAS) granted in-principle approval for Gemini to obtain a Major Payment Institution (MPI) license, allowing the organization to provide digital payment token and cross-border remittance services.Gemini stated in an announcement that receiving in-principle approval is a milestone for the company, as Singapore has always been at the core of its operations in the Asia-Pacific region. The exchange platform indicated that it will continue to work towards obtaining the final approval for the MPI license.

ChainCatcher news, a Reuters survey shows that the Brazilian central bank will raise the benchmark interest rate by 50 basis points on November 6, marking the second step in its short-term tightening actions, in stark contrast to the policy easing in most global markets. The Brazilian central bank's monetary policy committee, Copom, raised the benchmark interest rate by 25 basis points last month, the first increase in two years, and hinted at more adjustments to come in response to a challenging inflation outlook.According to the Reuters survey conducted from October 21 to 25, the median estimate of 34 economists indicates that Copom may raise the Selic rate from 10.75% to 11.25%. Among them, 30 economists expect a 50 basis point increase, while four predict an additional 25 basis points increase.

ChainCatcher news, according to Forbes, recent research shows that major financial institutions, including the Federal Reserve Bank of Minneapolis, the European Central Bank (ECB), and the International Monetary Fund (IMF), are intensifying their research on Bitcoin. These institutions are generally concerned about the potential impact of Bitcoin on traditional monetary policy.The latest research released by the ECB when Bitcoin's price approached $70,000 indicates that the rise in Bitcoin's price could lead to a wealth redistribution effect, benefiting early holders while reducing the purchasing power of other social groups. The Minneapolis Fed warns that the existence of Bitcoin may affect the government's ability to sustain budget deficits.The IMF's policy document in 2023 specifically emphasizes that crypto assets could undermine the effectiveness of monetary policy in emerging markets. The IMF suggests that while countries should strengthen regulation, they should focus on enhancing the credibility of their monetary policy frameworks rather than implementing a comprehensive ban. These studies indicate that central banks are reassessing the challenges posed by Bitcoin to the traditional financial system.

ChainCatcher news, according to Bitcoin.com, the Central Bank of Brazil supports tokenization and "open finance" as key elements of the future financial system. In a panel report from the International Monetary Fund and the World Bank, the bank's president Roberto Campos Neto stated that the intersection between the two is often underestimated.Campos Neto emphasized the relevance of tokenization to the concept of bank balance sheets and operational efficiency, stating: banks will gradually shift from viewing balance sheets based on accounts to viewing balance sheets based on "tokens," which we believe will greatly enhance efficiency and productivity. Tokens are better suited for banks to manage risk, manage collateral, and finance.

ChainCatcher news, according to Jinshi reports, ECB Governing Council member Knot stated that the market has anticipated the interest rate cut path in advance. We need to observe in December whether this is overly optimistic. If there are upward inflation risks, policy tightening may be slower. We must keep all options regarding interest rates open and make decisions in a gradual meeting approach to retain flexibility in interest rate choices. Although the current economic situation in the Eurozone is not very good, it is not as bad as people say. It is expected that the Eurozone will achieve a soft landing and a recession is not anticipated.

ChainCatcher news, ECB board member Holzmann stated that the current data is insufficient to justify a 50 basis point rate cut in December, and some colleagues may push for a significant rate cut in December. (Jin Ten)

ChainCatcher news, according to Cryptonews, the Norwegian central bank is advancing its research on central bank digital currency (CBDC) and plans to make a related decision by the end of 2025. Although the European Central Bank is preparing for digital currency, Norway has stated that it is not in a hurry to accelerate the process.According to Norway's Deputy Governor Pål Longva, Norway's research on CBDC is in line with other central banks, with the current focus on assessing complex issues. Norway is known for its leading position in digital payments, and although cash usage declined during the pandemic, it has recently stabilized.

ChainCatcher news, European Central Bank President Lagarde defended two main targets often criticized by Trump: monetary policymakers and global trade.Lagarde suggested that Trump visit Frankfurt to understand how challenging the work of Federal Reserve Chairman Powell, whom he frequently criticizes, really is. She discussed the issue of monetary policymakers being susceptible to political criticism during an interview.Lagarde also stated that Trump's notion that setting interest rates is easy is incorrect. In addition to monetary policymakers, Lagarde also expressed disagreement on the tariff issues that Trump is most passionate about.