Fed Officials Signal That Interest Rate Cut Before September Is Unlikely
Leading Fed officials, including Fed Vice Chair Jefferson, New York Fed President Williams, and Atlanta Fed President Bostic, announced that a rate cut is not expected in the near term. Citing uncertainty in economic data and the need to analyze the effects of rising tariffs, the officials emphasized that no rate decision is expected at the June and July meetings. These statements significantly lowered market expectations.
ECB Official: Italy May Join Digital Euro Project
European Central Bank Executive Board member Piero Cipollone said that Italy’s national postal service Poste Italiane could be an important partner in the distribution of the digital euro in Italy. Speaking at the ASviS event, Cipollone said that the ECB’s digital euro project needs local distribution partners for the “last mile” implementation and that Poste Italiane, with its millions of customers, is well-suited for this role.
India’s High Court Questions Government on Lack of Crypto Policy
India’s High Court has questioned the country’s central government on the lack of a clear regulatory framework in a crypto fraud case. The court noted that crypto transactions have turned into a “sophisticated underground exchange” and emphasized that the government needs to urgently establish a clear crypto policy.
South Korea Tightens Identity Verification Rules for Cryptocurrency Exchanges and Non-Profit Organizations
The South Korean Financial Services Commission is preparing to strengthen identity verification procedures for cryptocurrency exchanges and non-profit organizations as part of its efforts to combat money laundering. The regulation, which will take effect in June, will require verification of the sources and purposes of funds related to cryptocurrency transactions.
Robinhood Submits Regulatory Proposal to SEC for Tokenized Real-World Assets
Robinhood has submitted a 42-page proposal to the US Securities and Exchange Commission (SEC) calling for federal regulation of tokenized real-world assets (RWA). The proposal suggests a hybrid exchange model featuring asset-token mapping, off-chain matching, and on-chain settlement architecture. The integration of tools like Jumio and Chainalysis for compliance is also planned.
Ripple Tension in Washington: Lummis Cancels Meeting
Ripple CEO Brad Garlinghouse announced that a planned meeting with Senator Cynthia Lummis has been canceled. This development drew backlash from the XRP community, while allegations that Lummis’ son-in-law has ties to a Bitcoin company resurfaced.
BlackRock’s BTC Holdings Approach Satoshi Nakamoto’s Estimated Holdings
BlackRock’s Bitcoin ETF, IBIT, has now reached 57% of Satoshi Nakamoto’s estimated BTC holdings. According to Bloomberg analyst Eric Balchunas, if the current buying trend continues, BlackRock could become the world’s largest BTC holder by next summer. A price scenario reaching $150,000 could further accelerate this process.
Ethereum Gains Strength with Market Value Increase Following Pectra
According to Glassnode data, Ethereum’s realized market value has increased by $3.8 billion since the Pectra update on May 7, reversing a three-month downward trend. This increase indicates a resurgence in institutional interest and on-chain activity for ETH.
