Research Summary
The report covers a range of topics including the Federal Reserve’s stance on interest rates, the U.S. CPI for September, G20’s cryptocurrency regulatory roadmap, UK FCA’s warning against HTX and KuCoin, ESMA’s publication on smart contracts, Binance’s weekly summary, OKX’s weekly summary, Bitmain’s delayed salary payments, Deribit’s plans for altcoin options contracts, and SBF, FTX’s weekly summary. It also includes updates on fundraising in the cryptocurrency sector.
Key Takeaways
Federal Reserve’s Interest Rate Decisions
- Fed’s cautious approach: The Federal Reserve policymakers unanimously agreed to maintain high-interest rates for a while and advocated a cautious approach to interest rate decisions. Most participants believed that it would be appropriate to raise rates once more at future meetings.
U.S. CPI for September
- U.S. CPI Unadjusted at 3.7%: The U.S. non-seasonally adjusted CPI for September showed a year-on-year increase of 3.7%, slightly above expectations of 3.6%, but in line with the previous month’s figure of 3.7%.
G20’s Cryptocurrency Regulatory Roadmap
- Regulatory oversight of crypto assets: G20 finance ministers and central bank governors approved the roadmap for the regulation of crypto assets, ensuring the effective, flexible, and coordinated implementation of a comprehensive policy framework for crypto assets.
UK FCA’s Warning Against HTX and KuCoin
- UK FCA adds 143 entities to its warning list: The UK Financial Conduct Authority (FCA) added 143 entities to its warning list of firms that customers should avoid, including Huobi/HTX and KuCoin.
ESMA’s Publication on Smart Contracts
- Classification of Smart Contracts in Decentralized Finance: The European Securities and Markets Authority published a paper on the “Classification of Smart Contracts in Decentralized Finance (DeFi).” It points out that the increasing complexity of smart contracts and the adoption of more sophisticated technology have become characteristics of DeFi, and regulatory authorities need to understand and monitor this complexity.
Actionable Insights
- Investigate the Potential of Crypto Assets: With the G20 finance ministers and central bank governors approving the roadmap for the regulation of crypto assets, it’s crucial to understand the implications of these regulations on the crypto market.
- Monitor Regulatory Developments: The UK FCA’s addition of 143 entities to its warning list, including Huobi/HTX and KuCoin, highlights the importance of staying updated with regulatory developments in the crypto space.
- Understand the Complexity of DeFi: The European Securities and Markets Authority’s publication on the classification of smart contracts in DeFi underscores the need to understand and monitor the increasing complexity of smart contracts and the adoption of more sophisticated technology in DeFi.
