The Crypto Compass Issue #25

HSBC now lets customers trade bitcoin and ether ETFs!? Read it in our weekly newsletter now! Brought to you by BitcoinWalletSG.

Hey Friends!

Welcome back to your trusted guide in the ever-evolving crypto universe, The Crypto Compass. This week, we've seen remarkable advancements in the ETF landscape and promising regulatory developments. Interestingly, it appears Asia is taking the helm in crypto development while the US navigates its course. Let's dive right in!

HSBC Hong Kong Ventures into Bitcoin and Ether ETFs

Our journey begins in Hong Kong, where banking heavyweight HSBC is charting new waters. They're preparing to launch Bitcoin and Ether ETFs, marking a significant step in the integration of crypto into traditional finance. It's worth noting how Asian financial institutions like HSBC are seizing the initiative and expanding their crypto-related services.

First Leveraged Bitcoin Futures ETF Set for Launch

Shifting our gaze to the US, Volatility Shares is making waves with the launch of the first leveraged Bitcoin futures ETF. While this is indeed a monumental development, one can't help but compare the relatively slow pace of crypto innovation stateside to the rapid advancements happening across the Pacific.

Singapore Outlines Framework for Responsible Digital Asset Ecosystem

In Singapore, the Monetary Authority (MAS) is crafting a responsible digital asset ecosystem, emphasizing proper governance and risk management. This proactive approach further showcases the lead Asia is taking in shaping a regulated and accepted crypto space.

From my vantage point, it seems Asia is taking charge of cryptocurrency development, pushing boundaries and setting standards. Meanwhile, the US, although making strides, appears to be treading more cautiously. This trend is fascinating and surely something to watch closely as it unfolds.

Stay curious and happy investing!

Best,
Punk5558 from BitcoinWalletSG

Podcast

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Notable News

HSBC Hong Kong now lets customers trade bitcoin and ether ETFs

HSBC Hong Kong, the region's largest bank, now allows customers to trade bitcoin and ether ETFs listed on Hong Kong's stock exchange.

www.theblock.co/post/236325/hsbc-hong-kong-bitcoin-ether-crypto-etfs

Singapore's MAS sets out framework for 'responsible' digital asset ecosystem

The Monetary Authority of Singapore and the Bank of International Settlements issued a framework for ways to adopt digital asset trading.

www.theblock.co/post/236361/singapores-mas-sets-out-framework-for-responsible-digital-asset-ecosystem

First leveraged bitcoin futures ETF will launch Tuesday, Volatility Shares says

The first leveraged bitcoin futures ETF became effective on Friday after not being rejected by the U.S. Securities and Exchange Commission.

www.theblock.co/post/236245/first-leveraged-bitcoin-futures-etf-will-launch-tuesday-volatility-shares-says

BlackRock touts 'monumental' impact of tokenization, even if it's slow

BlackRock's head of strategic ecosystem partnerships thinks institutional adoption of tokenization will take longer than people expect.

www.theblock.co/post/236073/tokenization-will-be-monumental-in-shaping-our-ecosystem-blackrock

Regulatory News

Binance reportedly pulls out of Austria, shifts focus to MiCA compliance in Europe

Binance told CryptoSlate that it is striving for compliance with Europe's Markets in Crypto (MiCA) legislation.

cryptoslate.com/binance-reportedly-pulls-out-of-austria-shifts-focus-to-mica-compliance-in-europe

U.S. House committee to vote on crypto, stablecoin legislation in July

Proposed new laws to govern digital assets and stablecoins in the U.S. will come up for their first vote next month.

www.theblock.co/post/235852/u-s-house-committee-to-vote-on-crypto-stablecoin-legislation-in-july

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