ChainCatcher news, according to FOX Business, informed sources reveal that Ripple is about to receive approval from the New York Department of Financial Services (NYDFS) to issue the stablecoin RLUSD, which is expected to officially launch on December 4, 2024.Currently, XRP has a market capitalization of $99 billion, ranking as the fifth largest cryptocurrency in the world. As an institution already licensed by NYDFS, Ripple will collaborate with payment service providers such as Bitstamp, Moonpay, and Uphold to launch this stablecoin.The stablecoin aims to meet customer demand for low-volatility digital currencies while further promoting the development of cross-border payments and remittance transactions. Previously, Ripple also established the RLUSD Advisory Council, which includes former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, former JPMorgan executive David Puth, and Ripple co-founder and Executive Chairman Chris Larsen.

ChainCatcher news, MicroStrategy founder Michael Saylor initiated a poll on the X platform with the topic "Will Bitcoin break $100,000 on New Year's Eve?" Currently, 59,073 users have participated in the poll, with a support rate of 85.2%.

ChainCatcher news, according to The Block, JPMorgan analysts outlined six key regulatory and market changes for the cryptocurrency industry under the Trump administration that could reshape the landscape of cryptocurrency in the U.S. under the leadership of Trump and the Republican-led Congress.JPMorgan analysts indicated that several stalled cryptocurrency bills may quickly gain approval. These bills include the "Financial Innovation and Technology for the 21st Century Act" (FIT21), which could provide much-needed regulatory clarity for the crypto industry by clearly defining the regulatory responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).They also stated that as the regulatory framework becomes clearer, the SEC's strategy of increasing enforcement may evolve into a more collaborative approach. High-profile lawsuits against companies like Coinbase may be eased, settled, or even dismissed. Regulatory notices sent to companies like Robinhood and Uniswap could be reconsidered, thereby reducing the litigation risk for the broader crypto industry. The SEC's "Staff Accounting Bulletin No. 121" (SAB 121), which restricts banks from holding digital assets, may be repealed.Additionally, JPMorgan analysts noted that the SEC may seek to resolve lawsuits concerning unregistered securities and require the launch of futures-based ETFs for these assets before approving spot ETFs. These factors could delay the approval of new ETFs or require re-filing. Clearer regulations may increase venture capital, mergers and acquisitions, and initial public offerings in the cryptocurrency space. Although strategic Bitcoin reserves would significantly enhance Bitcoin's legitimacy and could potentially drive up its price, the likelihood of this passing is low.

ChainCatcher news, according to official sources, Singaporean crypto investment firm QCP Capital's over-the-counter spot trading division QCP Trading has announced that it has received in-principle approval (IPA) for a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS). This approval will allow QCP Trading to prepare for providing regulated digital payment token spot trading services.

ChainCatcher news, QCP Trading has received in-principle approval for a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore. This approval marks an important step for QCP Trading towards formal licensing, enabling it to prepare to offer regulated digital currency spot trading services.

ChainCatcher message, a poll from the New York Post shows that both Trump and Harris have a support rate of 49%. Compared to previous polls, Harris's support rate has decreased by 2%.

ChainCatcher news, Matrixport announced that its Singapore subsidiary Fly Wing Technologies Pte Ltd ("Fly Wing") has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).It is reported that Fly Wing's clients include cryptocurrency miners, trading firms from both the crypto and traditional finance sectors, investment companies, and high-net-worth individuals. The company facilitates over $100 million in over-the-counter transactions each month and provides liquidity for fiat and mainstream cryptocurrency deposit and withdrawal services.

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, according to a report by Hong Kong media Wen Wei Po, the Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Ye Zhi Heng, stated that the Hong Kong Virtual Asset Trading Platform (VATP) has currently issued 3 licenses and is processing another 14 applications. The SFC is taking a relatively expedited approach to approve 11 applications that are "considered for licensing," with the expectation of issuing several more licenses by the end of the year.In addition, the Hong Kong Financial Services and the Treasury Bureau expects to regulate stablecoin products by the end of the year, while regulatory measures for issuers are planned for next year. The Monetary Authority will issue the third batch of tokenized green bonds, but there is currently no definite timetable.

ChainCatcher news, the Hong Kong Securities and Futures Commission (SFC) has published a vision to promote the thriving development of Hong Kong's fintech ecosystem. The SFC's current regulatory measures include risk-based on-site inspections and direct dialogues with senior management and controllers of applicants. Based on this, the Hong Kong SFC is implementing a rapid licensing approval process to handle applications from virtual asset trading platforms that are considered for licensing. To fulfill its commitment to promoting the sustainable and responsible development of the virtual asset industry, the Hong Kong SFC is collaborating with the Hong Kong SAR Government and other regulatory bodies to formulate regulatory proposals for providing virtual asset trading services and virtual asset custody services, continuing to enhance its investor protection efforts through active monitoring systems and public warnings, and deepening cooperation with other institutions.

ChainCatcher news, CNN's final poll shows that former U.S. President Trump and U.S. Vice President Harris have equal support rates, both at 47%.

ChainCatcher news, Komainu, a compliant crypto custody company jointly established by Nomura Securities, Ledger, and Coinshares, plans to acquire its competitor Propine Holdings Pte Ltd. in Singapore.Komainu's co-CEO Paul Frost-Smith stated in an interview that the acquisition of Propine is awaiting approval from the Monetary Authority of Singapore, which could be the first of several acquisitions. He declined to disclose the specific amount of the acquisition.Frost-Smith mentioned that acquiring Propine would enable Komainu to obtain a capital markets services license in Singapore, adding that this is an absolutely critical factor for establishing the business. Komainu is accelerating its expansion in Asia, having established regulatory frameworks for digital assets in economies ranging from Singapore to Hong Kong and Japan over the past few years.

ChainCatcher news, according to CoinDesk, Ripple Labs announced its upcoming USD-pegged stablecoin RLUSD's exchange and market maker partners are awaiting regulatory approval from the New York Department of Financial Services (NYDFS). Ripple has partnered with exchanges such as Bitstamp, Bitso, and Bullish, while Keyrock and B2C2 will serve as market makers for RLUSD.Ripple Labs President Monica Long stated that RLUSD will serve as an important bridge for payments and the tokenization of real assets, and will be backed by short-term U.S. Treasury bonds, dollar deposits, and cash equivalents. RLUSD is planned to be tested on the XRP Ledger and Ethereum network, with an expected launch in the near future.

ChainCatcher news, according to Cointelegraph, the Central Bank of the UAE (CBUAE) has in principle approved the issuance license for the AED Stablecoin under its regulatory framework for payment token services. This makes the AED Stablecoin the first approved institution in the UAE to issue a stablecoin pegged to the dirham.If final approval is granted, the AE Coin issued by AED Stablecoin will be available as a local trading pair for cryptocurrency transactions and will allow merchants to accept it for payment of goods and services.The CBUAE's licensing framework requires stablecoin issuers to fully hold their assets in cash in a separate custodial account at a UAE bank, or to hold at least 50% of their reserve assets in cash, with the remaining portion allowed to be invested in UAE government bonds and CBUAE currency notes.

ChainCatcher message, The ETF Store President Nate Geraci posted on social media: "According to Fox Business News, the SEC still insists that the cryptocurrency XRP is a security. Under the current administration, the XRP ETF may take some time to be approved."

ChainCatcher news, the Financial Services Commission of South Korea announced plans to establish a Virtual Asset Committee in its audit report to the National Assembly's Political Committee, to discuss significant issues such as the approval of virtual asset spot ETFs and the licensing of virtual asset exchanges.The Virtual Asset Committee is an advisory body that provides policy and institutional recommendations for the virtual asset market and business operators, chaired by the Vice Chairman of the Financial Services Commission, with members consisting of officials.Currently, the Financial Services Commission prohibits the trading of virtual asset ETFs such as Bitcoin, on the grounds that they do not fall under the underlying assets specified in the Capital Markets Act. Additionally, due to concerns about money laundering, companies are also prohibited from opening virtual asset accounts.Furthermore, the Financial Services Commission has established a non-profit foundation (Digital Asset User Protection Foundation), which receives user assets and returns them to businesses that have closed or suspended operations, and is currently conducting updated report reviews for businesses whose reporting period has expired.

ChainCatcher news, according to a report by Newsweek, in the latest published poll, Harris has a record lead over Trump.The poll conducted from October 4 to 6 shows that Harris has a support rate of 51%, leading Trump by 6 percentage points, with Trump at 45%. The survey included 11,353 potential American voters, with a margin of error of +/- 1 percentage point.

ChainCatcher news, according to CoinDesk, RWA issuer Midas announced that after obtaining approval from the Liechtenstein regulatory authorities, it will expand the range of its tokenized U.S. Treasury bonds and yield arbitrage trading products for retail users.This means that Midas has removed the $100,000 minimum investment requirement and investor certification process for the mTbill and mBasis tokens, and has simplified the token investment process to just "one click" to obtain the tokens. The company stated that these tokens can be used globally, excluding the United States and sanctioned countries.