WuBlockchain Weekly: Hong Kong’s ZA Bank Launches Cryptocurrency Trading Services, Brazilian Congressman Proposes Bitcoin as a National Reserve Asset, Altcoin ETFs Expected to Debut by Late 2025,etc
1. U.S. Q3 GDP Annualized Growth Rate Steady at 2.8%, Core PCE Revised Down to 2.1% link The U.S. third-quarter real GDP annualized growth rate (revised) stood at 2.8%, aligning with expectations of 2.8% and matching the previous estimate. The third-quarter core PCE price index annualized growth rate (revised) was 2.1%, slightly below the forecast of 2.2% and the prior estimate of 2.2%. 2. Trump Administration Proposes Expanding CFTC Authority to Restructure Crypto Regulation link The incoming Trump administration plans to expand the authority of the Commodity Futures Trading Commission (CFTC) to oversee the $3 trillion digital asset market. This initiative aims to curtail the Securities and Exchange Commission’s (SEC) jurisdiction over parts of the crypto industry, granting the CFTC regulatory oversight of digital assets like Bitcoin (BTC) and Ethereum (ETH), classified as commodities, along with their spot markets. The administration believes this move will provide a clear regulatory...