A Tether-backed project, Utexo, plans to support private USDT transfers, direct swaps between BTC and USDT and loans backed by BTC, while keeping most transaction data off Bitcoin’s public ledger.
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Bitcoin is up roughly 3% in October as traders await September’s jobs data, while rising bond yields, a stronger dollar weigh on broader markets.
The U.S. Securities and Exchange Commission has issued a proposed rule concerning the custody of digital assets. This move advances the regulator's agenda for overseeing the crypto sector. The proposal was finalized as Commissioner Hester Peirce, who led the SEC's inaugural Crypto Task Force, prepares to depart this week. The rule outlines requirements for how registered investment advisers must safeguard crypto assets held for clients.
The company behind a Trump-themed memecoin is promoting a dinner event scheduled for November. The organizers have described the gathering as the "most exclusive dinner in the world." The dinner is being advertised specifically for the token's top investors. The event appears to be a promotional effort aimed at the coin's key backers.
The U.S. cryptocurrency industry is now subject to new regulatory rules from the SEC and other agencies. This development follows the recent failure of the CLARITY Act, a congressional bill designed to provide clearer guidelines. The regulations were established through existing agency powers rather than new legislation. Industry advisors must now navigate these rules, which address issues like custody and compliance.
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