Singapore tops Bybit crypto adoption index as U.S. slips from first

Marketnode and Lion Global have introduced a gold fund that is vaulted in Singapore and operates on the Solana blockchain, marking a significant advancement in the integration of traditional assets with blockchain technology.

The anticipated markup of the crypto market structure bill in the United States, aimed at establishing a regulatory framework for digital assets, is likely to be delayed until after the holiday season due to stalled negotiations among a bipartisan group of pro-crypto senators. This postponement comes despite earlier expectations for a pre-Christmas markup.

A statue of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has been installed at the New York Stock Exchange (NYSE), marking a significant moment in the recognition of cryptocurrency's impact on traditional finance. This statue is part of a series created by artist Valentina Picozzi, with other installations located in Switzerland, El Salvador, Japan, Vietnam, and Miami.

A16z Crypto, the cryptocurrency venture capital arm of Andreessen Horowitz, is set to open a new office in Seoul, appointing Sungmo Park to spearhead its efforts in Asia. This move comes in response to the high levels of cryptocurrency ownership in South Korea and Singapore, alongside increasing on-chain activity in Japan.

Shiba Inu has experienced a significant increase in spot trading volume across major exchanges, including a 154% rise on Kraken over the past week, indicating a potential bullish trend for the second-largest meme coin by market cap. This surge comes as the broader cryptocurrency market faces declines, suggesting that buyers are stepping in to support the SHIB price at critical levels.

Hong Kong has initiated a public consultation regarding the adoption of the OECD’s Crypto Account Reporting Framework (CARF) to enhance tax compliance and combat cryptocurrency tax evasion. This move reflects the region's commitment to aligning its tax reporting standards with international norms.

Standard Chartered-backed Libeara has launched the MG 999 fund in Singapore, offering institutional investors tokenized, synthetic exposure to gold. This fund combines gold-linked performance with lending opportunities to jewelry retailers like Mustafa Gold, responding to the increasing global demand for safe-haven assets.

HashKey has initiated its initial public offering (IPO) in Hong Kong, aiming to raise $215 million. This move comes as the company faces a significant cash burn rate, highlighting the urgency of securing funds to sustain its operations in the competitive cryptocurrency market.