An executive from DBS, the biggest bank in Southeast Asia, has announced the bank’s intention to broaden its cryptocurrency services in Hong Kong. The bank aims to seek a license in Hong Kong to enable the sale of digital assets to its customers in the region. According to The Straits Times’ report on Monday, DBS Group Holdings has disclosed its strategy to enhance its operations in Hong Kong.
Circle, the issuer of USD Coin, has refuted speculations that it had received a “Wells Notice” regarding its stablecoin, which is pegged to the United States dollar. A tweet by Eleanor Terrett, a reporter at Fox Business, alleged on 14th February, that Circle had been directed by the U.S. Securities and Exchange Commission (SEC) to discontinue the sale of USDC, as the stablecoin was reportedly not registered as a security. However, Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle Pay took to Twitter just 15 minutes after Terrett’s tweet to dismiss the rumor, clarifying that Circle had not received any Wells Notice.
Despite the underwhelming January U.S. consumer price index (CPI) data, Bitcoin managed to firmly establish itself above $22,000. Within the last 24 hours, the top cryptocurrency in terms of market capitalization has surged by over 3%, currently trading above $22,200. Prior to this upswing, Bitcoin had remained below the $22,000 mark for five consecutive days. Investor apprehension regarding stablecoin regulation and the U.S. central bank’s efforts to combat inflation were contributing factors to this prolonged period of stagnation.