Hong Kong lawmaker advocates including Bitcoin in national reserves

Wu Jie believes Hong Kong's strategic move towards Bitcoin integration could enhance economic resilience and attract innovative businesses.

Dec 30, 2024

Happy Monday!

In today's CryptoSlate newsletter, we highlight key developments making waves in the cryptocurrency world. Hong Kong lawmaker Wu Jie is advocating for the city to include Bitcoin in its national reserves, suggesting this could enhance economic resilience and attract innovative businesses. Meanwhile, A16z is taking a bold step by suing the IRS over new DeFi regulations, arguing that these changes threaten the future of decentralized finance. In regulatory news, Bybit has been ordered to shut down its operations in Malaysia after being flagged for unlicensed activities, raising concerns about compliance in the crypto exchange sector. These stories reflect the ongoing evolution and challenges within the cryptocurrency landscape.

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The global crypto market cap is $3.21 trillion, with a 24-hour volume of $120.92 billion. The price of Bitcoin is $92,177.76, and BTC market dominance is 56.6%. The price of Ethereum is $3,331.87, and ETH market dominance is 12.4%. The best-performing sector is Insurance, which gained 9%. The Crypto Fear & Greed Index is currently Greed (65).