Investment Education

According to Odaily, Fox Business journalist Eleanor Terrett revealed on the X platform that a former SEC lawyer, who recently left the agency, indicated that the SEC might appeal Judge Torres' ruling in the Ripple case from July 2023. The former lawyer mentioned that the decision to appeal is driven by a strong belief within the SEC that the ruling was incorrect and should be contested. The deadline for the SEC to file an appeal is October 7.

According to BlockBeats, Morocco has announced the launch of its 'Digital Morocco 2030' strategy, allocating a budget of $1.1 billion. The initiative aims to transform the country into a global digital hub through the integration of artificial intelligence (AI) and blockchain technology. By 2030, the strategy seeks to create 240,000 new jobs in the digital sector, increase digital export revenues to 40 billion dirhams (approximately $4.15 billion), and boost the overall contribution of the digital economy to 100 billion dirhams (around $10.36 billion).The Moroccan government plans to utilize blockchain technology to develop a unified administrative service portal, which will manage services related to healthcare, education, and social security. Additionally, AI systems will be employed to analyze and process data in real-time, enhancing the quality of these services. The strategy also includes increasing 5G coverage to 70% of the country's land area, establishing 3,000 startups, and attracting global AI and blockchain technology companies to set up operations in Morocco, thereby contributing to the nation's growing tech ecosystem.

According to BlockBeats, on September 27, Federal Reserve Governor Cook expressed her wholehearted support for the Fed's recent decision to cut interest rates by 50 basis points. In her prepared remarks at Ohio State University on Wednesday, Cook cited a slowing labor market and easing inflation as key reasons for the rate cut. She emphasized that this decision reflects the Fed's growing confidence in maintaining a robust labor market while achieving moderate economic growth and sustainable inflation reduction through appropriate policy adjustments.Cook's speech also focused on the implications of artificial intelligence (AI) for American workers. She highlighted that AI has the potential to significantly and sustainably boost labor productivity. While acknowledging that AI might lead to job displacement, Cook also pointed out that it could create new job opportunities.

According to Cointelegraph, the United States Securities and Exchange Commission (SEC) will continue to seek modifications to the definitions of 'exchange' and alternative trading systems, as stated by chairman Gary Gensler at the US Treasury Market Conference on September 26.Gensler addressed issues impacting the efficiency and resilience of the US Treasury bond market. The proposed changes have faced significant criticism from the digital asset community. One of the SEC's measures to strengthen the Treasury market involved redefining 'dealer' to include more market participants, such as principal-trading firms that utilize algorithmic and high-frequency trading strategies. Despite criticism from pro-crypto politicians regarding the potential impact on digital asset trading, these changes were adopted in February 2022.Another contentious issue is the definition of 'exchange' and alternative trading systems, which also affects digital assets. A proposal from 2022 aimed to extend registration requirements for platforms acting as market makers for government securities. The proposal's wording suggested that other exchange platforms might also be subject to the new rules, raising constitutional concerns. When the proposal was revisited a year later, a section was added to specifically address decentralized finance (DeFi). Gensler noted that this update would close a regulatory gap among platforms, though the changes have not yet been finalized.Prometheum and tZero are notable examples of registered alternative trading systems. They are the first and only firms to receive special purpose broker-dealer status for digital asset securities, enabling them to provide custody of digital asset securities for retail and institutional clients. While Gensler did not mention cryptocurrency or DeFi in his presentation, he later appeared on CNBC to discuss crypto regulation, asserting that the crypto industry is sufficiently regulated by existing laws.

According to Odaily, Federal Reserve's John Williams announced the formation of a new committee dedicated to the use and understanding of benchmark rates. This committee aims to assist the market in effectively utilizing and comprehending these rates. Williams did not provide any comments on the current economic situation or monetary policy during his announcement.Additionally, Federal Reserve Chairman Jerome Powell, in his brief opening remarks at the New York Federal Reserve, refrained from discussing monetary policy or the economic outlook.

According to BlockBeats, revised U.S. GDP data released on September 26 indicates that the American economy grew faster in 2023 than initially expected. Despite significant interest rate hikes by the Federal Reserve, increased business investment and consumer spending contributed to this upward revision. The GDP growth rate for 2023 has been adjusted to 2.9%, up from the previously estimated 2.5%. This revision was also influenced by an upgrade in residential investment, including residential construction. Additionally, the economic growth rate for 2022 has been revised upward by 0.6 percentage points to 2.5%, primarily due to higher consumer spending and business investment. The annual benchmark data from the U.S. Bureau of Economic Analysis (BEA) also revealed a significant upward revision in corporate profits for the previous year. Adjustments to inflation were minimal, while the savings rate saw an increase. Dave Wasshausen, Deputy Director of the BEA's National Economic Accounts, stated that the overall economic condition remains unchanged.

According to Odaily, the United States' economic indicators for the second quarter have been released. The core Personal Consumption Expenditures (PCE) price index annualized quarterly rate stood at 2.8%, matching both the forecast and the previous value of 2.8%. This measure is closely watched as it reflects the underlying inflation trends excluding food and energy prices.The actual Gross Domestic Product (GDP) annualized quarterly rate for the second quarter was confirmed at 3%, aligning with expectations and the previous figure of 3%. This indicates steady economic growth during the period.However, the actual personal consumption expenditures annualized quarterly rate for the second quarter was slightly lower than anticipated, coming in at 2.8% compared to the expected 2.9% and the previous value of 2.9%. This suggests a minor slowdown in consumer spending.Additionally, the final sales annualized quarterly rate for the second quarter was recorded at 1.9%, down from the previous value of 2.2%. This metric excludes changes in inventories and provides a clearer picture of demand in the economy.

According to BlockBeats, the number of initial jobless claims in the United States for the week ending September 21 was recorded at 218,000. This figure is lower than the expected 225,000 and marks a decrease from the previous week's revised count of 222,000. This is the lowest level of initial jobless claims since the week of May 18.

According to BlockBeats, Dubai's cryptocurrency regulatory authority has updated its marketing guidelines for virtual assets, requiring companies to include disclaimers that clearly outline investment risks. Starting October 1, companies promoting virtual assets in the UAE must feature a 'prominent' disclaimer stating that 'virtual assets may partially or completely lose their value and are subject to extreme volatility,' as announced by the Dubai Virtual Assets Regulatory Authority (VARA) on Thursday.VARA's CEO, Matthew White, emphasized that by providing clear and actionable guidance, they aim to help virtual asset service providers (VASPs) offer services responsibly while fostering market trust and transparency.

According to Odaily, several Federal Reserve officials, including Jerome Powell, Susan Collins, Lisa Cook, Michelle Bowman, John Williams, Michael Barr, and Philip Jefferson, are scheduled to deliver speeches tonight. This comes after the Federal Reserve initiated a rate cut cycle with a 50 basis point reduction. The market remains uncertain about the extent of further rate cuts for the remainder of the year. As this is the first week following the Federal Reserve meeting, the officials' statements tonight may provide some clarity to the market. Investors should be aware of potential significant market volatility and associated risks.