ChainCatcher news, OSL Group announced its annual performance for 2024, which includes:Revenue reached a record high of HKD 375 million, a year-on-year increase of 79%;Revenue from digital asset market business was HKD 283 million, a year-on-year increase of 73%, mainly from over-the-counter trading, request for quote (RFQ), exchange business, and custody services;Revenue from digital asset technology infrastructure business was HKD 92 million, a significant year-on-year increase of 415%. The main revenue source includes SaaS services;Total trading volume exceeded HKD 100 billion, a year-on-year increase of 16%;Total assets under custody reached HKD 5 billion, an increase of 5.6 times compared to 2023.

ChainCatcher news, according to Fox Business reporter Eleanor Terrett, the Commodity Futures Trading Commission (CFTC) is planning to hold a CEO forum to discuss the CFTC's digital asset market pilot program for tokenized non-cash collateral, such as stablecoins.Participants include leaders from Circle, Coinbase, Crypto.com, and Ripple. The concept of the crypto pilot program and expanding non-cash collateral through distributed ledger technology was proposed by current CFTC acting chair Caroline Pham.

ChainCatcher news, according to the New York Post, the potential candidates for the Trump administration's digital asset market working group have been revealed. These industry executives include former Kraken General Counsel Marco Santori, Ripple co-founder Brad Garlinghouse, podcast host Frank Chaparro, Circle CEO Jeremy Allaire, Coinbase CEO Brian Armstrong, and Crypto.com CEO Kris Marszalek.This list does not include all individuals; the potential candidates for the advisory committee are selected based on industry experience.

ChainCatcher news, according to Jinshi reports, the Thai Finance Minister stated at a Securities and Exchange Commission meeting on Thursday that the government is considering issuing government bond-backed stablecoins. These stablecoins could be used for payments to merchants and may attract investors.

ChainCatcher news, against the backdrop of an optimistic outlook on legislative/regulatory progress from Congress and the restructured U.S. SEC regarding cryptocurrency support, the Blockchain Association has announced its "consensus position" on digital market structure policy. With the help of its more than 100 member companies, the advocacy organization has developed 12 recommendations. One recommendation calls for the establishment of a regulatory framework that positions the U.S. as the "preferred center" for investment and technological advancement, while another seeks to protect the right to self-custody digital assets using non-custodial wallets.The association stated: "Its principles support both open-source developers and network participants—ensuring that the responsibilities of code creators and contributors are protected while maintaining broad participation in permissionless networks. The principles regarding staking and regulatory transition provide pathways for existing and emerging business models while supporting network security and ensuring orderly market development."

ChainCatcher news, the Financial Services Commission of South Korea has announced that it will promote the legalization of Security Token Offerings (STO) and fractional investment platforms as one of the core economic tasks for this year. STO converts assets such as real estate and artworks into digital tokens through blockchain technology, supporting small investors to participate in high-value asset investments. Financial authorities have begun revising the Capital Markets Act and the Electronic Securities Act, and are preparing the relevant infrastructure for this purpose.The industry expects that the legislation of STO will significantly boost the growth of South Korea's digital asset market, with the STO market size in South Korea projected to reach 119 trillion won by 2026 and increase to 367 trillion won by 2030, nearly quadrupling.

ChainCatcher news, Galaxy announced on the X platform that it has expanded its business to Hong Kong, stating that Hong Kong's support for the digital asset market makes it a promising region for innovation and potential growth.Galaxy CEO Mike Novogratz stated that Hong Kong understands that digital assets and blockchain technology have the potential to become a conduit for the flow of funds and assets. The local government's support for this industry is a key factor in Galaxy's decision to invest in Hong Kong, and failing to follow Hong Kong's lead and prioritize innovation could lead to being left behind.

ChainCatcher news, according to the South China Morning Post, HashKey Group Chairman and CEO Xiao Feng stated in an interview: "If the U.S. Congress and the incoming President Trump clarify cryptocurrency policies, continuously legislate, and promote the development of the industry, this will definitely become a driving force for China to accept (cryptocurrency)."Xiao Feng believes that Washington and its Western allies excluding Russia from the Swift financial information system in 2022 may also prompt Beijing to support the cryptocurrency industry. He said: "If these events had not occurred, China might have needed five to six years from now to accept cryptocurrency business. But now, due to these influencing factors, this timeframe may be shortened to two years." The Chinese government has not yet shown signs of possibly relaxing its ban on digital assets. However, Beijing has allowed Hong Kong to develop its digital asset industry. Xiao Feng stated that if China wants to restore the development of its digital asset market, it can start with a payment and clearing system based on regulated stablecoins.He said: "Stablecoins are currently the best solution for cross-border business-to-consumer trade," citing reasons such as fast transaction speeds and low fees. Xiao Feng mentioned that his HashKey team recently conducted a survey in Yiwu, which found that almost all merchants received inquiries from buyers about whether they could use popular dollar stablecoins (such as USDT and USDC) for payments.

ChainCatcher news, according to Cointelegraph, Binance Thailand CEO Nirun Fuwattananukul published an opinion piece in the Bangkok Post, pointing out that Thailand's digital asset market is shifting from retail-led to institution-led, helping Thailand become a fintech hub in Southeast Asia.Fuwattananukul stated that the new regulations proposed by the Thai Securities and Exchange Commission (SEC) on October 9 are a key step in the maturation of Thailand's cryptocurrency market. The regulation will allow institutional-grade mutual funds and private equity funds to invest in crypto products, such as U.S. spot crypto ETFs. He emphasized that this is not only about legitimizing Bitcoin but also about creating a mature ecosystem for the coexistence of traditional finance and crypto assets.Additionally, Fuwattananukul noted that the tokenization of real-world assets (RWA) is becoming a major trend in Thailand. According to research by Tren Finance, the RWA tokenization industry could grow 50 times by 2030. Traditional banks in Thailand are exploring the conversion of conventional assets such as bonds, real estate, and stocks into blockchain-tradable digital assets.

ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan stated that recent comments by U.S. Vice President Harris on cryptocurrency indicate that if regulators give the green light, investors will flood into the digital asset market.On Monday, Harris pledged to support a regulatory framework that protects Black investors and ownership of cryptocurrency. Hougan noted in a blog post that Harris's proposal coincided with a 5% rise in Bitcoin prices on Monday, with $555.8 million flowing into Bitcoin spot ETFs, the largest inflow since June 4.He added, "Regardless of what Harris actually said, the price movement that day tells me that there is a lot of capital on the sidelines waiting for the alarm to be lifted to enter the market."

ChainCatcher news, Daniel Seifert, Coinbase's Country Director for the UK and Vice President for Europe, the Middle East, and Africa, announced that Coinbase's UK users can now use Apple Pay as a payment option.It is reported that the UK is Coinbase's second-largest market, with over 6 million adults in the UK already owning cryptocurrency. Coinbase's move aims to further enhance participation in the digital asset market.

ChainCatcher news, according to Bloomberg, the digital asset market EDX Markets, supported by Citadel Securities, Fidelity Investments, and Charles Schwab, has established a custody partnership with Anchorage Digital. EDX Markets CEO Jamil Nazarali stated that the clearing business will launch next month. Additionally, the company will consider adding other custody partners outside of Anchorage Digital if requested by clients.It is reported that EDX Markets is supported by Charles Schwab, Citadel Securities, Fidelity Digital Asset, Paradigm, Sequoia Capital, and Virtu Financial, and was launched in June of this year.

ChainCatcher news, according to CryptoSlate, U.S. Republican Congressman Glenn Thompson (R-PA) stated that he is prepared to introduce his cryptocurrency bill in the House this week and believes that the recent Ripple ruling will help garner Democratic support for the bill.The Digital Asset Market Structure Bill was introduced by Thompson and Congressman Patrick McHenry, with support from Congressmen French Hill and Dusty Johnson. The bill was first submitted to the House for preliminary review on June 2 and is scheduled to enter the voting phase in July. The bill proposes a new regulatory framework that classifies cryptocurrencies as either securities or commodities, to be regulated by the U.S. Commodity Futures Trading Commission (CFTC) or the U.S. Securities and Exchange Commission (SEC).

ChainCatcher news reports that, according to a Crypto.com announcement, Crypto.com’s Global Head of Derivatives Legal, Steve Humenik, has been appointed as a member of the U.S. Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC) Digital Assets Market Subcommittee. Steve Humenik will focus on providing guidance and advice to GMAC on key issues affecting the integrity and competitiveness of U.S. markets and U.S. companies engaged in global business, such as regulatory challenges in global markets and the cross-border nature of businesses, including the derivatives market; assessing and reporting on international standards through engagement with international policymakers and authorities from other jurisdictions.Additionally, the subcommittee will explore identifying and assessing key issues and policy recommendations related to the digital assets market, including digital finance and asset tokenization, non-financial activities and Web3, as well as blockchain technology. (Source link)

ChainCatcher news, Crypto.com announced that derivatives legal chief Steve Humenik has been appointed as a member of the U.S. CFTC Global Markets Advisory Committee (GMAC) Digital Assets Market Subcommittee.As a member of the subcommittee, Humenik will focus on providing guidance and advice to GMAC on key issues affecting the integrity and competitiveness of U.S. markets and U.S. companies engaged in global business, such as regulatory challenges in global markets and the cross-border nature of business, including the derivatives market; assessing and reporting on international standards through engagement with international policymakers and authorities from other jurisdictions. The subcommittee will also explore identifying and assessing key issues and policy recommendations related to the digital assets market, including digital finance and asset tokenization, non-financial activities, Web3, and blockchain technology.Steve Humenik stated, "I am honored to be selected by the CFTC and GMAC to support the Digital Assets Market Subcommittee." "I look forward to working closely with subcommittee members as well as CFTC and GMAC representatives to tackle some of the biggest challenges facing global businesses and the digital assets market today."It is reported that Humenik joined Crypto.com in July 2022 and has played a key role in developing and launching Crypto.com's derivatives product suite. (Source link)

ChainCatcher news, supported by Citadel Securities, Fidelity Investments, and Charles Schwab, announced the official launch of trading services for the digital asset market EDX Markets and completed a new round of financing, with investors including Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology.The products available for trading on EDX include BTC, ETH, LTC, and BCH. EDX will launch EDX Clearing later this year to settle trades matched on EDX Markets. (Source link)

ChainCatcher news, according to CNBC, U.S. Deputy Attorney General Marshall Miller has listed a recent enforcement action related to cryptocurrency and hinted that the agency is investigating potential manipulation of the digital asset market. The recent collapse of FTX has raised questions about whether its founder SBF will face criminal charges. Marshall Miller stated that the department is closely monitoring the extreme fluctuations in the digital asset market over the past year. (Source link)

ChainCatcher News, U.S. Treasury Secretary Yellen stated that the collapse of the cryptocurrency exchange FTX demonstrates the need for more effective oversight of the digital asset market. "The further interconnection of the traditional financial system and the crypto market could raise broader financial stability concerns. Looking ahead, we must take necessary measures to address these troubling risks and take action to protect consumers and promote financial stability."Yellen indicated that Congress should intervene and fill the regulatory gaps, emphasizing a series of digital asset reports released by the Biden administration earlier this year. (Source link)