Bitcoin surged past $114,000 as softer-than-expected US PPI data reinforced Federal Reserve interest rate cut expectations. Key takeaways: Bitcoin broke $114,000 as data showed PPI inflation cooled sharply in August. Traders believe the data could push the Federal Reserve to cut rates in September. Read more
The EU’s proposed Chat Control law is just short of the critical support it needs to pass in the EU Council, and Germany could change the balance. As the EU Council heads to vote on the so-called “Chat Control” law, Germany could prove the deciding factor. Put forward by Denmark, the law would essentially eliminate encrypted messaging, requiring services such as Telegram, WhatsApp and Signal to allow regulators to screen messages before they are encrypted and sent. Legislators from 15 member states of the EU have indicated support for the bill, but those countries do not constitute at least 65% of the EU population, meaning they need additional support. Read more
How TRUMP, DJT and WLFI clash with California’s crypto rules and why Newsom teased a “Trump Corruption Coin.” Political memecoins are tokens themed around real politicians or campaigns. They trade less on utility and more on narrative or community sentiment, which can push them up during election cycles. Most of these memecoins are launched on Solana or Ethereum, with platforms like Pump.fun lowering costs and making it easy for thousands of short-lived tokens to appear. Read more
India is reportedly delaying comprehensive crypto regulation as its central bank warns rules could legitimize digital assets and create systemic risks. Indian regulators are reportedly holding back from introducing comprehensive crypto rules over concerns that regulation could legitimize digital assets and create systemic risks. According to a Wednesday Reuters report citing documents the outlet’s reporters viewed, the Reserve Bank of India (RBI) maintains the view that containing the risks posed by cryptocurrencies through regulation would be challenging. The document reportedly states that regulating cryptocurrencies would legitimize them and “cause the sector to become systemic.” An outright ban on cryptocurrencies, the document continued, would address the alarming risks of speculative crypto assets but could not tackle peer-to-peer transfers or trades on decentralised exchanges. Read more