Australia’s Securities and Investment Commission (ASIC) has issued a landmark class exemption allowing licensed intermediaries such as exchanges and brokers to distribute stablecoins without seeking separate regulatory approvals. The move marks the country’s first direct step toward formalizing crypto rules while easing entry barriers for firms overseen by Australian Financial Services.

The relief, delivered through ASIC’s Stablecoin Distribution Exemption Instrument, applies until June 1, 2028, and requires intermediaries to provide retail clients with the issuer’s Product Disclosure Statement. Catena Digital Pty Ltd and its AUDMA stablecoin have been named as the first participants, with ASIC signaling potential expansion to additional issuers as more stablecoins secure AFS licences. By reducing licensing frictions, the exemption creates a clearer path for stablecoin distribution ahead of upcoming national legislation.

Australia’s government plans to introduce a dual-track regime in 2025 covering digital asset platforms and payment stablecoins. This development places Australia alongside global efforts, with the U.S., Hong Kong, and China also advancing their own stablecoin regulations.

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BNB, the native token of BNB Chain and Binance’s ecosystem, surged past the $1,000 mark for the first time, reaching an all-time high of $1,004. The token rose 4.5% in the last 24 hours, lifting its market capitalization close to $140 billion and overtaking Solana to reclaim the fifth spot among the largest cryptocurrencies. The broader crypto market also showed strength, with the CoinDesk 20 Index gaining around 3% following the U.S. Federal Reserve’s anticipated 25-basis-point interest rate cut.

Momentum for BNB was fueled by reports that Binance is negotiating with the U.S. Department of Justice to end a key compliance measure from its $4.3 billion settlement in 2023. The exchange has been under the oversight of a court-appointed monitor since that deal. If finalized, the agreement would shift Binance toward stricter internal reporting requirements, a model that has previously helped similar firms move past compliance restrictions.

Traders also speculate that Binance co-founder Changpeng Zhao could make a return, despite no official confirmation. The possibility, combined with heightened trading volumes, drove BNB’s rapid climb, with prices leaping nearly $40 in just over an hour before breaking the psychological $1,000 barrier. New resistance is forming near $1,005, while support has stabilized just below $1,000.

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Openbank, the fully digital arm of Spain’s Santander Group, has launched digital assets trading for retail clients in Germany. The move is a big step for one of Europe’s largest financial institutions into the digital asset space, with Spain to follow in the coming weeks.

The new service allows Openbank customers to buy, sell, and hold bitcoin, as well as four top altcoins — Ethereum, Litecoin, Polygon, and Cardano — directly on the bank’s investment platform.

The service sits alongside Openbank’s traditional investment products such as stocks, funds, ETFs, and robo-advisory services.

By trading within its own platform, Openbank eliminates the need for…

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Grayscale’s Digital Large-Cap Fund (GDLC) has officially been cleared for trading under the U.S. Securities and Exchange Commission’s (SEC) general listing standards for exchange-traded funds (ETFs). The approval marks another milestone in the integration of cryptocurrencies into mainstream financial markets.

CEO Peter Mintzberg announced the development on September 18 via X, confirming that the GDLC’s application to transition into an ETF had been accepted. This green light places Grayscale in a prime position to deliver one of the first multi-crypto ETFs in the United States, a move widely seen as a victory for the digital asset sector.

The upcoming ETF is expected to feature a diverse mix of leading cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). Market watchers note that such a product could attract traditional investors seeking diversified exposure to digital assets, further legitimizing crypto as an investment class.

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Historically, bitcoin’s price peaks approximately 20 months after a Bitcoin halving. The last Bitcoin halving occurred in April 2024, which means we could see a cycle top by December of this year.

The odds of this are increasingly likely as Fed Chair Powell cut rates by 25 bps today, giving the approximately $7.4 trillion sitting in money market funds a reason to come off the sidelines and move into a hard asset like bitcoin, especially now that it’s easier to obtain exposure to bitcoin via spot bitcoin ETFs and proxies like bitcoin treasury companies.

Powell also signaled today that two more rate cuts could be on the way before the year is out, which would only further…

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