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Today in crypto, US Treasury Secretary Scott Bessent lauded Singapore’s forward-thinking regulatory framework for digital assets and stablecoins, highlighting it as a pioneering model for secure innovation in fintech. Meanwhile, Bitcoin’s seminal white paper celebrated its 17th anniversary—a milestone shadowed by Bitcoin facing its first red October in seven years amidst market volatility. On the corporate front, Strategy’s chairman Michael Saylor shared that the company is unlikely to pursue acquisitions of other Bitcoin treasury firms due to prevailing uncertainties, though he left the door slightly open for future possibilities.
Scott Bessent praised Singapore’s crypto adoption
US Treasury Secretary Scott Bessent praised Singapore’s proactive approach to digital assets and stablecoin regulation, calling it a model for effective, secure innovation. Speaking at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea, Bessent met with Singapore’s Prime Minister to discuss digital finance collaboration and adoption of US dollar stablecoins. He also emphasized ongoing US efforts to bolster industrial and technological investments balancing innovation with financial stability.
Bitcoin white paper turns 17 amid looming first red October in 7 years
Bitcoin’s foundational white paper, published by Satoshi Nakamoto on October 31, 2008, marks 17 years since it outlined a decentralized peer-to-peer electronic cash system. From a niche concept to a $2 trillion global asset, Bitcoin has reshaped finance. However, this anniversary comes as Bitcoin faces its first October downturn since 2016, reflecting the market’s challenges.
Strategy’s Michael Saylor cautious on acquisitions
Michael Saylor, chairman of Strategy, stated during the company’s Q3 earnings call that they do not currently plan to acquire other Bitcoin treasury firms due to prolonged uncertainty and complexity in mergers and acquisitions. Nonetheless, he didn’t completely rule out future opportunities, focusing instead on enhancing balance sheets and Bitcoin holdings.
For the full details, visit https://cointelegraph.com/news/what-happened-in-crypto-today
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$json.CompelingTitle = “Crypto Highlights: Singapore’s Regulatory Praise, Bitcoin’s 17th Anniversary Amid Market Shifts, and Strategy’s Acquisition Caution”