1. Fed's Powell Says Overtight Policy May Impact Labor Market
On September 24, Federal Reserve Chairman Jerome Powell stated that weak employment growth may make it difficult to maintain a stable unemployment rate, and that overly tight policy could cause unnecessary shocks to the labor market. He emphasized that after the rate cut in September, the Fed is now in a favorable position, and believes that tariff-driven price pressures may be temporary. -Original
2. OECD Predicts Fed May Cut Rates in 2025
The OECD expects that the Federal Reserve will lower its key interest rate in 2025 and cut rates two more times in early 2026. -Original
3. SEC Chairman Releases Latest Progress on Crypto Market Structure Bill
Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), released the latest progress on the Crypto Market Structure Bill. Paul Atkins stated, "It is crucial to introduce the Market Structure Bill... We hope to see the bill eventually enacted." -Original
4. CFTC Allows Stablecoins as Collateral for Derivatives
The acting chairman of the U.S. Commodity Futures Trading Commission (CFTC) announced the launch of the "Tokenized Collateral" initiative, allowing derivatives traders to use stablecoins and other non-cash assets as collateral. The initiative continues the pilot project from February this year and invites industry feedback by October 20. It is seen as an important step toward modernizing capital markets and advancing crypto regulation. -Original
5. Number of People Holding Over $1 Million in Crypto Assets Globally Increases by 40%
The "2025 Crypto Wealth Report" jointly released by Henley & Partners and New World Wealth shows that the number of people worldwide holding crypto assets worth over $1 million has reached 241,700, a 40% increase from last year. Among them, the number of people holding over $1 million in bitcoin surged by 70% year-on-year to 145,100. In addition, the number of individuals globally holding over $100 million in crypto assets reached 450, up 8% from last year; those holding over $1 billion in crypto assets reached 36, a 29% year-on-year increase. Analysts believe this growth is mainly driven by accelerated institutional investment and the launch of state-backed digital currency initiatives in various countries. -Original
6. Morgan Stanley Plans to Offer Crypto Trading Services to E*Trade Clients
On September 23, Morgan Stanley announced a partnership with crypto infrastructure provider Zero Hash, planning to launch crypto trading services for E*Trade clients in the first half of next year. The initial supported assets will include bitcoin, ethereum, and SOL, with plans to subsequently launch a comprehensive wallet solution. The head of Morgan Stanley Wealth Management stated that this move aims to allow clients to access digital and traditional assets within a familiar ecosystem. This marks a significant step by major banks to accelerate their presence in the digital asset space. -Original
7. Boerse Stuttgart Expands Crypto Business to Spain
On Tuesday, Boerse Stuttgart Digital, the crypto business division of Germany's Boerse Stuttgart Group, announced the opening of a new office in Madrid, Spain, officially entering the Spanish market. This move expands its European footprint to eight hubs, including Frankfurt, Zurich, and Milan. Earlier this year, the company obtained the first pan-European MiCAR license issued by Germany's Federal Financial Supervisory Authority (BaFin), providing crypto trading and custody solutions for banks, brokers, and asset management firms. -Original
8. EU Cracks Down on $118 Million Crypto Scam
European law enforcement agencies have successfully cracked a crypto scam involving up to $118 million, with over 100 victims across 23 countries. The operation was coordinated by the EU judicial cooperation agency Eurojust, with police conducting raids in Spain, Portugal, Italy, Romania, and Bulgaria, arresting five suspects including the ringleader. According to investigations, the scammers posed as legitimate investment platforms, promising high returns to attract investors, then transferred funds to Lithuania for money laundering. When victims requested withdrawals, the scam group demanded additional fees for various reasons before shutting down the platform, causing investors to lose all their funds. The group has been operating since 2018, with most victims from Germany, France, Italy, and Spain. The main suspects will face charges of large-scale fraud and money laundering. -Original
