Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Hong Kong to Submit Stablecoin Bill to Legislative on Dec18

LegalDec 7

The Hong Kong government has published a ‘stablecoin bill’ in the Gazette on December 6 to introduce a regulatory system for fiat currency stablecoin issuers in Hong Kong. This bill will be submitted to the Legislative Council for its first reading on December 18. The drafted bill intends to enhance the regulatory framework for crypto activities to tackle potential risks that come with fiat currency stablecoins. The bill also aims to promote financial stability, ensure that users have sufficient protection, and leverage the benefits that “virtual assets” and related technologies can introduce. According to local media reports, licensing system mentioned…

DC Wallet Partners with Indian Government-Owned Firm to Promote Digital Rupee Adoption

ExchangesDec 7

DC Wallet just announced a partnership with AFC India Limited, a company owned by the Indian government, to promote the adoption of the digital rupee. This adoption initiative comes after the Reserve Bank of India tested this CBDC on Ripple’s XRP ledger in November. Digital Rupee Adoption Strategies DC Wallet announced this partnership via a press release detailing the companies’ strategies and goals. Although India’s Central Bank Digital Currency (CBDC), the digital rupee, was launched over two years ago, it has yet to achieve widespread adoption. This new public-private partnership focused on several possible growth areas. “The strategy spans to…

New Intra-Year High over $4088 or New ATH?

EthereumDec 7

Bitcoin Effect on Ethereum On December 5th, 2024, Ethereum (ETH) reached an impressive intraday high around $3,950, signaling a potential rally as Bitcoin (BTC) recently surpassed $100,000 for the first time in history. With this milestone, many crypto enthusiasts are turning their attention to Ethereum, wondering if it can reach its intra-year high of $4,088 once again—and possibly even surpass its all-time high (ATH) of $4,892. Focusing on the main resistance level, the $4k mark is like $100k for Bitcoin which now hovers around $102k. As the crypto market continues to evolve, what are the chances for Ethereum to not…

A new kind of crypto ETF weighs market trends

RegulationDec 7

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. A fund issuer has adjusted several of its crypto ETFs to accommodate those seeking a different type of exposure to the space. They’re crypto futures funds that had lost some luster when spot products became available — but now feature a twist. Bitwise officially converted three of its futures-based ETFs to “Trendwise” products that rotate between crypto and US Treasurys based on crypto market price trends. Essentially the funds will stick to investing in crypto futures when the 10-day exponential moving average of the price of…

VePassport Launches with Improved Sybil Defense and Rewards for Better Actions

AltcoinsDec 7

VePassport integrates Proof of Personhood with VeWorld Wallets to safeguard decision-making from malicious entities. VeBetterDAO has updated its interface, including a “Better Actions” tab for tracking user impact and a delegation feature for vote transfers. VeChain has unveiled VePassport, a decentralized identification system that enables governance security and user rewards within VeBetterDAO. This new tool seeks to reduce the scourge of Sybil attacks in decentralized governance by implementing measures that make it possible for only true people to vote and get rewards. Moreover, VePassport ensures that people’s real actions and their real assets are tied to their identity. How Does…

U.S. Regulator Told Banks to Lay Off Crypto, Letters Obtained by Coinbase Reveal

LegalDec 7

Crypto banking activity was paused or prevented by the Federal Deposit Insurance Corp. at a large number of U.S. banks in 2022, according to communications pried loose by a research firm hired by Coinbase Inc. (COIN). Coinbase's hired help, History Associates Inc., had taken the FDIC and the Securities and Exchange Commission to court in June and finally won access to certain internal FDIC communications. The heavily-redacted documents emerged on Friday, showing the banking regulator slamming the brakes on lenders offering or considering products and services in the digital assets sector. "We respectfully ask that you pause all crypto asset-related…

Binance Futures Announces It Will Delist Three Altcoin Trading Pairs! Here Are The Details

ExchangesDec 7

Binance Futures has announced plans to delist USDⓈ-M MAVIAUSDT, OMGUSDT, and BONDUSDT perpetual contracts. Binance Futures to Delist Three Perpetual Contracts on December 16 The delisting will take place after automatic reconciliation at 12:00 on December 16, 2024 and will mean the removal of these contracts from the platform. Basic Details of Delisting Position Closures: Users are advised to close their open positions prior to the delisting time to avoid automatic reconciliation by Binance. Restriction on New Positions: Starting at 11:30 AM on December 16, 2024, investors will not be able to open new positions in the affected contracts. Settlement…

Bitcoin price charts point to explosive gains in the long term

BitcoinDec 7

Bitcoin and other cryptocurrencies started the week well, buoyed by ongoing stimulus discussions in China, the world’s second-largest economy. Bitcoin (BTC) crossed the important resistance point of $65,000 for the first time since Sept. 30. It has risen by over 10% from its lowest level this month and by 32% from its August low, signaling that it is in a bull market. Bitcoin’s surge coincided with a strong rally in the global equity market after Chinese officials unveiled a series of stimulus measures. The Shanghai Composite Index rose by 2%, while the Shenzhen index increased by 2.65%. A similar trend…

Ethereum Price Eyes $5k Rally as $100k BTC Ignites Whale FOMO

EthereumDec 7

The cryptocurrency market is buzzing with excitement as Bitcoin breaks the $100K mark, marking a significant achievement for the growth of the Web3 industry. This bullish momentum is gradually spreading to the altcoin market, with investors actively searching for promising assets that could replicate Bitcoin’s rally. Ethereum price shows potential for such a rally as whale buying shows investors anticipation for a key breakout. Currently, the ETH price trades at $3,887 with an intraday gain of 1.3%. According to Coingecko, the global crypto market cap is at $3.8 Trillion, while the 24-hour trading volume is at $483.2 Billion. Key Highlights:…

Senior FED Member Speaks on the Level of Interest Rate Cuts Planned for 2025

RegulationDec 7

Chicago Fed President Austan Goolsbee expressed optimism that interest rates will be lowered significantly next year. Speaking at a keynote hosted by Crain's Chicago Business Editor-in-Chief Ann Dwyer, Goolsbee addressed the challenges and opportunities facing the U.S. economy and monetary policy. “We have very few tools. I told you we can only tighten or loosen,” Goolsbee explained. While monetary tightening helps combat inflation, he noted that raising interest rates too high risks unintended economic consequences. “The only way to create deflation for the economy as a whole is to crash it,” he said, drawing historical comparisons such as the Great…