ChainCatcher news, Federal Reserve Chairman Powell will be interviewed at the DealBook/Summit conference hosted by The New York Times at 02:45 Beijing time on Thursday.Analysts from the monetary policy and global macro research consulting firm LHMeyer indicate that Powell may still be reluctant to discuss his views on the December meeting. Powell is unlikely to have a clear inclination towards the December decision like Waller (who supports a rate cut in December). The market expects the Federal Reserve to cut rates in December, but still considers the possibility of a wait-and-see attitude to be quite high. Such an arrangement does not seem to trouble Powell. (Jin Shi)

ChainCatcher news, Federal Reserve Chairman Powell: We do not wish to provide too much forward guidance.

ChainCatcher news, Federal Reserve Chairman Powell will deliver a speech on the economic outlook at the Jackson Hole Economic Symposium at 10 AM Eastern Time on August 23 (10 PM Beijing Time on August 23), setting the tone for the interest rate cut window in September.This is the first full day of the annual economic symposium held by the Kansas City Fed in Jackson Hole, Wyoming. This global central bank annual meeting provides Powell with an opportunity to make the latest assessment of the trajectory of the U.S. economy and the outlook for monetary policy between the Fed's decision-making meetings in July and September. Last month, he indicated that if inflation and the labor market continue to cool, the Fed may consider an interest rate cut at its next meeting.

ChainCatcher news, according to Cointelegraph, the UK's Financial Conduct Authority (FCA) has issued further guidance on compliance with cryptocurrency advertising. As of October 2023, the FCA has begun regulating the promotion of cryptocurrency services and continues to assist the industry in adhering to these regulations.The FCA reviewed relevant companies to understand their implementation of cooling-off periods, risk warnings, customer classification, suitability assessments, record-keeping, and due diligence on crypto assets. The regulator identified some good and bad practices and emphasized that companies should work directly with the FCA to raise standards across the industry. Two weeks after the new rules came into effect, the FCA discovered over 200 violations and issued additional rules to facilitate the compliance process.

ChainCatcher news, Federal Reserve Chairman Powell stated that there are no guidance on the pace of interest rate cuts, as it depends on economic conditions. (Jin Ten)

ChainCatcher news, according to Jinshi reports, the European Central Bank has maintained interest rates as expected and did not provide guidance for the next steps. It also stated that domestic price pressures remain high, and inflation will be above target for a longer period next year. The European Central Bank sent a balanced message, stating that corporate profits are absorbing some price pressures, but risks still exist. Further evidence is needed before policymakers pull the "trigger" on a second rate cut, and it indicated that upcoming information generally supports the committee's previous assessment of the medium-term inflation outlook. The bank also emphasized that the committee will continue to rely on data and make decisions at successive meetings to determine the appropriate level and duration of restrictive interest rates.

ChainCatcher news, Nigeria's Minister of Information and National Guidance Mohammed Idris responded on social media regarding the recent poor health condition of Binance executive Tigran Gambaryan, stating that Tigran Gambaryan is currently in lawful detention and has access to quality medical services at any time.In addition, he can enjoy comprehensive consular services provided by the Nigerian government. "Even if he is being tried under the laws of the Federal Republic of Nigeria, the federal government will not do anything that jeopardizes his basic rights to a lawful trial and to receive quality care, including healthcare. It is worth reiterating that his detention is court-ordered, and only the court can change the terms or order his release."

ChainCatcher news, SEC Commissioner Mark Uyeda stated that the SEC needs to consider proposing rules or guidance for regulating cryptocurrencies, rather than taking a more enforcement-oriented approach. The SEC has not taken steps to help formulate laws for cryptocurrencies, but has instead adopted a case-by-case approach through enforcement actions, meaning that achieving any type of legally binding precedent will take years, as matters need to go through the courts before reaching the appellate court.

ChainCatcher message, WalletConnect stated on social media that, in light of the latest regulations and guidance from the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), WalletConnect has restricted usage in Russia. Certain regions of Ukraine are temporarily affected, but the service has been restored.

ChainCatcher news, Hong Kong Securities and Futures Commission (SFC) Executive Director of the Investment Products Division, Ms. Choi Fung-yee, pointed out in her keynote speech at the 2023 Bloomberg Buy-Side Forum that the SFC has recently received proposals for the tokenization of SFC-authorized products in the area of retail investment products.Ms. Choi stated, "The SFC is currently developing more detailed guidelines for the tokenization of SFC-authorized investment products and will release them in the short term. In principle, at this stage, it is more appropriate to first allow primary trading of SFC-authorized products, while secondary trading on Virtual Asset Trading Platforms (VATP) requires more cautious and careful consideration."

ChainCatcher news, according to CoinDesk, the UK crypto lobbying group CryptoUK stated that the Financial Conduct Authority (FCA) plans to ban cryptocurrency incentives, which could force crypto companies to relocate out of the country. They are calling for the FCA to provide clearer guidance on the upcoming cryptocurrency advertising rules, specifying what constitutes "qualified crypto assets" and "financial promotions."ChainCatcher previously reported that the FCA's new advertising rules are set to stipulate that, starting from October 8, 2023, companies marketing crypto assets to UK consumers will need to introduce a 24-hour cooling-off period for first-time investors and prohibit marketing that includes "refer-a-friend" rewards.

ChainCatcher News, the U.S. Department of the Treasury today released the 2023 DeFi Illicit Finance Risk Assessment, stating that decentralized finance (DeFi) transactions, including financial transactions conducted with virtual currencies, must comply with anti-money laundering and sanctions laws. The report highlights several risks associated with decentralized financial technologies, including the abuse by ransomware cybercriminals, thieves, scammers, and other online participants. It also poses challenges to national security and consumer protection.As this report is released, the U.S. and other countries are working to address how to regulate cryptocurrencies and virtual assets. The report recommends implementing stricter regulations on the technology and advises businesses to comply with existing laws regarding money laundering and counter-terrorism financing. Treasury officials stated that to realize the potential benefits associated with decentralized financial services, these risks must be addressed. The private sector should use the findings of this assessment to inform their risk mitigation strategies and take clear steps in accordance with anti-money laundering/counter-terrorism financing regulations and sanctions obligations to prevent illicit actors from abusing DeFi services. (Source link)

ChainCatcher news, the Avalanche Foundation has launched the NFT initiative Avaissance, aimed at promoting the development of the Avalanche NFT ecosystem through dedicated guidance, financial support, and DAO management of Avalanche art.Avaissance consists of two components: the Artist in Residence program (AIR) and the Mona Lisa Initiative (MLI).Applications for the AIR program are now open and will close on April 28, with the first 50 selected artists to be announced in May. AIR will assist selected artists with a 6-month personal creative project while providing funding, one-on-one mentorship, virtual workshop opportunities, and support from the Avalanche ecosystem.For the MLI program, the foundation plans to donate Avalanche NFTs to art-focused DAOs, thereby expanding the NFT collections of the DAOs. The DAOs participating in MLI management will be announced soon. (Source link)