The RBA raised the cash rate to an 11-year high of 4.1%, saying the hike would provide greater confidence that inflation would return to target within a reasonable time frame, but adding that further tightening may be required.
The industry, eager to join the financial establishment, has asked for clear regulation, but progress on that front has been thwarted by political gridlock in Washington.
Securities and Exchange Commission sued Coinbase, accusing it of illegally operating without registration with the regulator. The U.S. The SEC also filed a lawsuit against Binance and its CEO, Changpeng Zhao, on Monday.
LONDON, July 19 (Reuters) - French bank Societe Generale has become the first company in France to obtain a license for crypto services, as a growing number of mainstream financial companies embrace crypto globally this year.
The Australian dollar peaked at $0.6690 in early Asia trade, its highest since mid-May, buoyed by lingering effects of the Reserve Bank of Australia's (RBA) quarter-point interest rate increase to an 11-year high on Tuesday.
Investors pulled around $780 million from
Binance and its American affiliate, Binance.US, in the 24 hours since the Securities and Exchange Commission launched legal action against the company.
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The announcement came at a
weekend meeting of the 23-nation OPEC+ oil producers' alliance, which also agreed to continue its current production cuts until the end of next year.
The RBA raised the cash rate to an 11-year high of 4.1%, saying the hike would provide greater confidence that inflation would return to target within a reasonable time frame, but adding that further tightening may be required.
Global regulators have been keeping a close watch on the crypto world after a string of high-profile collapses wiped out more than a trillion dollars from the digital asset industry's market capitalization last year.
Australia's central bank hiked rates by a quarter-point to 4.1% - an 11-year high - and warned that further increases might be required to ensure inflation is brought back under control.
markets being drained of cash. NEW YORK/LONDON June 9 (Reuters) - U.S.
shares struck new highs for the year on Friday, setting world stocks up for gains for the week, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S.
BlackRock, the world's biggest asset manager, filed last week for the exchange which would allow investors to get stakes in the asset class. The Wall Street Journal reported on Tuesday that EDX Markets, a crypto exchange backed by Citadel Securities, Fidelity and Schwab had started operations.
More recently, regulatory scrutiny has weighed on the sector.
This month, Binance and Coinbase Global, two of the biggest crypto exchanges, were sued by the SEC for allegedly violating its rules, which the pair deny.
regulator has yet to approve any applications for spot bitcoin ETFs. BlackRock's iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the U.S.
Securities and Exchange Commission (SEC).
On Wall Street overnight, gains were led by the tech-heavy Nasdaq, which surged 1.27%. The broader S&P 500 rose 0.62%.
E-mini U.S. equity futures in Asia pointed to about a 0.1% lower restart for each of the indexes.
The U.S.
dollar edged back towards last week's 2-1/2-month highs versus major peers, after dropping on Monday following unexpectedly soft U.S. services data, that clouded the policy outlook for the months ahead.
In Asia, data out on Wednesday showed that China's exports shrank much faster than expected in May and imports fell, albeit at a slower pace, as manufacturers struggled to find demand abroad and domestic consumption remained sluggish.
In a speech on Wednesday, Lowe reiterated that some further tightening may still be required to bring inflation to heel, though that would depend on how the economy and inflation evolve.
Money markets are pricing in a roughly 19% chance that the U.S.
central bank will raise rates by 25 basis points next week, compared to an over 60% chance a week ago, according to the CME FedWatch tool.