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British Investment Managers Get Green Light for Tokenised Funds
British investment managers got the go-ahead to develop tokenised funds, in which assets are split into smaller tokens backed by blockchain technology.
Tokenisation, or fractionalisation, of funds will enable a fund's assets to trade more cheaply and transparently and investors to buy into a wider range of assets, industry proponents say.
The Investment Association said that funds authorised by Britain's Financial Conduct Authority can take the first steps towards offering tokenised funds, provided the investments are in mainstream assets and valuation and settlement arrangements don't change.
Singapore to Tighten Crypto Regulations for Retail Customers
Singapore will introduce tighter rules for cryptocurrency service providers, following feedback on its proposed regulations, said the city-state’s financial authority.
“The consulted proposals detail business conduct and consumer access measures to limit potential consumer harm,” the Monetary Authority of Singapore said in a statement on Thursday.
The measures will include barring crypto service providers in Singapore from accepting locally issued credit card payments, offering incentives to trade in cryptocurrencies and providing financing, margin or leverage transactions for retail customers. The finalized measures will take effect in phases starting in mid-2024.
Asian shares are mixed, as Hong Kong retreats on selling of property shares
Shares were mixed in Asia with Hong Kong retreating on selling of property shares following recent gains.
U.S. futures edged higher after markets on Wall Street were closed on Thursday for the Thanksgiving holiday. Oil prices slipped.
Meanwhile, Japan reported a rise in its consumer inflation for the first time in four months, with big gains in food prices and hotel rates as tourism has soared. Chinese shares fell back, Hang Seng dropped by 1.4%, South Korea's Kospi declined 0.5%, SET fell 0.4%, while Taiwan's Taiex edged 0.1% lower.
Spot Bitcoin ETF Approval Could Unleash $70B Capital Influx
The approval of a spot bitcoin exchange-traded fund (ETF) in the U.S. could inject substantial new capital into the cryptocurrency market.
The latest analysis of Glassnode on the subject provides a deep dive into how spot bitcoin ETFs could reshape market demand and supply, signaling a new era for bitcoin’s integration into mainstream financial markets.
According to a report published on November 20, an influx of demand would confront relatively limited liquid bitcoin (BTC) supply, potentially amplifying volatility.
Bull Market Coming Early 2024, Say Crypto Exchange Heads
The market has already entered the first phase of a major rally, with the number of people buying crypto trickling upward which is expected to accelerate early next year, say the heads of Australia’s largest crypto exchanges.
Independent Reserve CEO Adrian Przelozny said he expects market activity to see an uptick in early 2024 and is hiring to build infrastructure before that happens. BTC Markets chief Caroline Bowler said market conditions had grown more bullish over the year, with a general recovery that kicked off in January.
Tommy Honan, Swyftx’s product strategy head, said his exchange had begun to see an uptick in buying activity. Kraken Australia managing director Jonathon Miller was on the side of caution and said it can be difficult to tell what phase the market is in.
Hong Kong Investment Firm Victory Securities Obtains Retail Crypto Trading License
Hong Kong investment firm Victory Securities (8540) has won approval from the Securities and Futures Commission (SFC) to offer crypto services to retail clients.
It joins crypto-native firms HashKey Exchange and OSL Digital Services.
Earlier this year, Hong Kong introduced a regulatory regime permitting the offering of crypto services in a sign of the cryptocurrency market shifting eastward as Asian jurisdictions offer greater clarity to companies than they may find elsewhere, such as in the U.S.
Rebellion General Sale Coming Closer
Rebellion is the latest version of the booster pack in the Splinterlands game and the presale for this version was started within 30 days having 500K packs in total. The response was good and especially in the beginning it was fantastic when more than 200k packs were sold in a few hours.
Now that pre-sale is over and the countdown for the general sale is on. It is scheduled to start from 5th December onwards you can also say that it is the official launch for the rebellion pack and anyone would be able to buy the pack with no such limitations.
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Thanks for the great info! Too bad Singapore is clamping down on crypto but the news in Hong Kong makes up for it. I think our bull run is coming!
Splinterlands Reblellion looks interesting, it could really shake things up. Llama/Kron will be out of Modern with a whole new set of summoners and cards. It should be a lot of fun. I hope Splinterlands starts making more efforts to recruit new players though, because without a growing player base it's hard to stay profitable.
!DHEDGE
Thanks as well and yes, Singapore seems to be getting stiffer over crypto. I thought it used to be friendly 😅 Good for HK for being a welcoming crypto hub.
Let's hope Splinterlands will be able to do that to keep the game economy thriving.
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