The latest U.S. CPI inflation data showed an increase to 2.9% in December 2024, marking the highest level in five months. Despite the uptick, the cryptocurrency market responded positively. A key factor was the alignment of the result with both the market consensus (2.9%) and the Federal Reserve’s model forecast (2.86%).
In response to the data, Bitcoin began moving toward the $100,000 mark, while Ethereum surpassed the $3,300 threshold.
Source: tradingeconomics.com
Cryptocurrencies are volatile and risky. Invest responsibly.
According to Washington Post sources close to the Trump administration, the President is expected to issue a directive on January 20 instructing the SEC to repeal the "SAB121" provision—a regulation discouraging U.S. banks from providing cryptocurrency custody services. Additional directives aimed at supporting the development of the U.S. cryptocurrency market are anticipated in the following days.
Source: washingtonpost.com
Cryptocurrencies are volatile and risky. Invest responsibly.
Coinbase won a legal case against the SEC concerning a petition filed in late 2023 requesting the establishment of dedicated regulations for the cryptocurrency market. The court deemed the SEC’s actions “arbitrary,” stating: “The SEC has repeatedly sued cryptocurrency firms for noncompliance with the law, yet fails to clarify how to comply. This caution raises a serious constitutional concern.”
However, the court did not mandate the SEC to create new regulations, leaving the regulatory matter to be addressed by the incoming administration.
Source: axios.com
Cryptocurrencies are volatile and risky. Invest responsibly.
Tether, the issuer of the leading stablecoin, is relocating its headquarters to El Salvador. CEO Paolo Ardoino confirmed that the company does not hold a license to operate within the European Union and is awaiting initial decisions from the Trump administration before considering a potential U.S. location.
Tether is currently registered in the British Virgin Islands.
Source: reuters.com
Cryptocurrencies are volatile and risky. Invest responsibly.
