CME becomes second-largest Bitcoin futures exchange as open interest surges

The Chicago Mercantile Exchange (CME), a regulated Bitcoin (BTC) Futures exchange, now stands just behind Binance in terms of notional open interest (OI) to rank second in the list of BTC futures exchanges.

CME’s OI hit $3.58 billion earlier on Oct. 30, pushing the regulated derivatives exchange platform to jump two positions from the last week. CME overtook Bybit and OKX with $2.6 billion and $1.78 billion in OI, respectively, and is just a few million away from Binance’s OI of $3.9 billion.

Bitcoin Futures Exchange rankings by Open Interest. Source: Coinglass

The standard Bitcoin futures contract offered by CME is valued at five BTC, whilst the micro contract is worth a tenth of a…

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Kraken Courts Development: Kraken Now Reports to The IRS

In the latest development regarding rulings in the digital asset exchange Kraken courts, the exchange announced that it will send client data to the United States agency responsible for the collection of federal taxes, the Internal Revenue Service (IRS), starting in November.

The decision was revealed after the firm lost a lengthy legal battle with the regulator that began in May 2021.

A Kraken Letter Surfaces on Reddit

A letter surfaced on social networking platform Reddit earlier this week, which revealed that Kraken has to submit client information. This comes at a time when authorities are increasing their efforts to gather data belonging to blockchain-based…

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UK Treasury reveals final blueprint for crypto, stablecoin governance

The UK Treasury unveiled definitive proposals for regulating cryptoassets and stablecoins on Monday.

The government intends to implement regulations in stages, beginning with the oversight of fiat-backed stablecoins for payment. 

The subsequent phase will address the wider cryptoasset sector, as outlined in two policy documents. 

These suggestions come after a consultation released in February about the upcoming financial services regulatory structure for cryptoassets in the UK.

Numerous companies and stakeholders actively participated in the consultation, offering insights to refine the government’s proposed approach.

“While most aspects of our proposals were well-received by the…

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Bitcoin Collection: Exploring the Variety of Physical Bitcoins

In the digital asset sector, there exists a unique intersection between the virtual and the tangible: physical Bitcoins. These physical representations of Bitcoin come in a range of styles and designs, making them intriguing items to include in a Bitcoin collection for enthusiasts.

In this article, we dive into the world of physical bitcoins, taking a look at some the more famous models.

A Closer Look at The Bitcoin Collection

Casascius Coins

Casascius coins — Source

Casascius Coins, created by Mike Caldwell, were among the first physical Bitcoins. They feature an embedded private key hidden beneath a tamper-evident holographic sticker. Casascius Coins come in various…

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Bitcoin builder climbs Africa’s tallest mountain to raise awareness

A Bitcoin (BTC) educator based in Tanzania has scaled Africa’s highest peak, Kilimanjaro, sponsoring the entire trip through Bitcoin and Nostr donations.

Kweks poses with a Bitcoin and NOSTR Flag at Kilimanjaro summit. Source: X

Kweks, (not his real name) crowdfunded over $1,700 in Bitcoin (0.0018 BTC) to cover the costs of the hike, which doubled up as an announcement for a new Bitcoin education academy in Tanzania.

“Kweks” recently moved with his wife to a new city in Tanzania to open a learning center, the “Proof of Work Academy,” or POWA. Kweks told Cointelegraph that while POWA is a pun on Bitcoin’s consensus protocol, proof-of-work, it also refers to the Zwahili word…

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Schiff Warns of Imminent US Dollar Collapse, Citing Crash in Treasurys

Peter Schiff, Chief Economist at Euro Pacific Capital, has consistently cautioned that a crash in the U.S. Treasurys market could lead to a US dollar collapse and undermine the American standard of living.

Schiff on US Dollar Collapse

Peter Schiff’s warning is particularly timely as the 10-year Treasury yield surged past 5% in October 2023, a level not seen since 2007.

Schiff argues that the Federal Reserve’s ability and willingness to generate digital dollars out of thin air pose significant dangers to the broader economy. 

In a recent social media statement, Schiff emphasized, “We are getting very close to a crash in Treasuries. That means the party will finally…

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UK publishes plans for stablecoins regulation

The United Kingdom government has published an update to its plans to regulate fiat-backed stablecoins. The document, published on Oct. 30, aims to facilitate and regulate the use of fiat-backed stablecoins in U.K. payment chains.

According to the document, His Majesty’s Treasury intends to introduce specific legislation to parliament in 2024, bringing the regulation of fiat-backed stablecoins under the Financial Conduct Authority’s (FCA) mandate.

Notably, the Treasury is looking into making the local companies, “arrangers of payment,” authorized by the FCA, responsible for ensuring the overseas stablecoin meets the local standards.

Non-fiat-backed types of stablecoins — a…

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Thai Bank Acquires 97% Stake in Bitcoin and Crypto Exchange

In a strategic move that solidifies its presence in the cryptocurrency sector, Thailand’s Kasikorn Bank has announced the acquisition of a 97% stake in Satang Corporation Company Limited, the parent company of the Satang cryptocurrency exchange.

The deal, valued at 3.705 billion Thai baht ($102.8 million), was conducted through a newly formed Kasikorn Bank subsidiary called Unita Capital, specifically created for investments in digital asset companies, according to local news sources.

Kasikorn is the country’s second-largest bank by assets under management, according to 2023 data from Statista.

Following the finalization of the acquisition, Satang Corporation will be rebranded as Orbix…

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Singapore plans joint crypto pilots with Japan, Switzerland and UK

The Monetary Authority of Singapore (MAS), the country’s central bank and financial regulator, is planning to start crypto-related cooperation with some European countries and Japan.

The MAS officially announced on Oct. 30 that it is partnering with the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA) and the United Kingdom’s Financial Conduct Authority (FCA) to promote joint digital asset pilots. The authority specifically seeks to carry out such pilots in relation to fixed income, foreign exchange and asset management products.

The initiative builds upon Singapore’s ongoing asset tokenization project known as Project Guardian,…

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Thailand’s 4th-largest bank buys $103M stake in crypto exchange

Kasikornbank, also referred to as K-Bank, on Monday announced its acquisition of a majority stake in the parent firm of local crypto exchange Satang.

In a filing to the Stock Exchange of Thailand, K-Bank President Pipit Aneaknithi disclosed that the acquisition, worth 3.7 billion Thai baht ($102.8 million), was made through the bank’s fully-owned subsidiary, Unita Capital. 

Following the takeover, Satang will renamed to Orbix Trade Company Limited, the filing showed.

Operating in Thailand since 2017, Satang claims to be the country’s longest-standing crypto exchange.

According to the filing, Unita Capital has also established three new subsidiaries: Orbix Custodian for digital…

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