Good morning. Here’s what’s happening:

Prices BitBull Capital’s Joe DiPasquale believes that the market has benefited from a pause in rate hikes, but rate reductions are needed to prevent it from struggling again.

Insights : Indonesia updates the list of digital assets that are approved for trading within the country. Does it aim to increase tax revenue?


Does a Pause in Rate Hike Enough to Cause a Rally

Bitcoin has begun the trading week for Asia with a 0.5% decline to $26,366, while Ether is down by 0.2% to $1.724.

The week’s trading was relatively flat, with bitcoin up 1.6% and ether down 1.7%. The CoinDesk Market Index was a measure for crypto markets’ performance. It was slightly negative.

Joe DiPasquale said, in a letter to CoinDesk, that the Fed’s decision to leave interest rates at the same level appears to be supportive of the crypto market rallying. The Fed added that no rate cuts would be coming in the near future, which caused the market to struggle.

DiPasquale says that Bitcoin and majors are holding up relatively well. He believes this is an opportunity to accumulate for the medium-to-long term.

He said that “for now, however all eyes will be on Bitcoin” because its dominance is on the rise as a result of selling pressure on altcoins. Bulls should not be too concerned as long as the market leader keeps the range of $20k to $22k.

The Biggest Gainers

Biggest Losers


Indonesian Approved list of crypto tokens has plenty of junk – and possible securities

The Indonesian Commodities Bureau’s (BAPPEBTI), which is responsible for the approval of digital assets in Indonesia, has updated its list .

It’s not the first time that the regulator has done something like this. The regulator first published in September last year, but now the list is much broader.

It’s only now that it is interesting.

There are tokens that would not pass Hong Kong’s quality test of high liquidity and a 12-month track record. There are tokens that would not pass Hong Kong’s quality test for high liquidity and 12-month track records.

Perhaps the message the regulator wanted to telegraph is that Indonesia is open to a wide variety of crypto trading – it just wants to tax the capital gains from it.

Indonesia has different concerns. In Thailand, the regulator banned memes. There are many tokens that would not be accepted in Thailand. In this country, there is no demand for crypto that’s regulated.

Isn’t this a fundamental principle of a market economy? Why should the government be the one to choose your crypto?


Important events.

6:00 pm HKT/SGT (10:00 UTC) German Buba Monthly report

8:30 p.m. HKT/SGT(12:30 UTC) Canada Industrial Product Price

10 pm HKT/SGT (14:00 UTC). Housing Market Index of the NAHB for June.


CoinDesk TV

If you haven’t seen it yet, here’s the latest episode of “First Mover” on CoinDesk TV.

Binance France is being investigated for “illegally” providing digital assets services and “acts aggravated money-laundering.” BlackRock’s (BLK), iShares, had filed paperwork at the U.S. Securities and Exchange Commission for the formation of a bitcoin spot ETF (BTC). Anthony Georgiades, Innovating Capital General Partner weighed in with his thoughts on the market’s reaction. Cboe Digital’s John Palmer also joined the discussion to talk about gaining CFTC permission to launch margin futures for bitcoin and ether. Ringers #879, a non-fungible (NFT), by Dmitri Cerniak, a generative artist sold at auction for the full price of $6.25 million. Michael Bouhanna, Sotheby’s head of digital art and NFTs, joined the discussion.

Newly released legal documents detail Tether’s banking relationships and commercial paper exposure : Obtained through a Freedom of Information Law Request, these documents provide a rare, but limited, window into USDT’s reserves, the crypto-market’s largest stablecoin.

After failing to obtain a license, Binance will leave the Netherlands The Dutch regulator has not granted a license to Binance.

Central Banks Test CBDC Use Cases Including Offline Payments A Bank for International Settlements experiment and Bank of England’s API layer has demonstrated that an API layer can facilitate a variety of central bank digital currencies payment scenarios.

Survey: Professional Investors still have a strong appetite for digital assets : According to a survey conducted by Nomura, the digital asset subsidiary, investors are overwhelmingly in favor of digital assets as a diversification opportunity.

BlackRock’s Bitcoin ETF would be a big deal : It doesn’t matter that it is technically a trust.

James Rubin is the editor.