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Hong Kong approves four more cryptocurrency exchanges

Hong Kong's securities regulator on Wednesday approved four cryptocurrency exchanges in the city's latest effort to stay competitive in a race to become a global centre for digital asset trading. Hong Kong has been promoting itself as a hub for assets such as cryptocurrencies in a effort to maintain its attractions as a financial centre. The Hong Kong Securities and Futures Commission said it had granted licences to Accumulus GBA Technology (Hongkong) Co., DFX Labs Company, Hong Kong Digital Asset EX, and Thousand Whales Technology (BVI).

Bitcoin Rally Pauses After Scaling $108,000 for the First Time

(Bloomberg) -- Bitcoin took a breather after topping $108,000 for the first time as traders await an expected Federal Reserve interest-rate cut and assess a wave of optimism from President-elect Donald Trump’s support for crypto.Most Read from BloombergNYPD Car Chases Are Becoming More Frequent — and More DangerousThe largest token touched $108,315 on Tuesday before falling back to $104,775 as of 7:33 a.m. Wednesday in New York. The overall value of digital assets came within a whisker of $4 tri

Oil steady ahead of US Fed rate decision, 2025 outlook

(Reuters) -Oil prices traded in a narrow range on Wednesday as investors stayed cautious ahead of a potential interest rate cut by the U.S. Federal Reserve and its projections for 2025, while a draw in U.S. crude inventories offered some support. The Fed is expected to cut rates by a quarter point, but to signal a cautious approach to loosening monetary policy next year. "Oil prices ought to see more of a reaction to the crude inventory draw seen in the API data overnight... however, such is the diverting power of central bank rate decisions that investors in all of the trading mediums are taking a very light touch to proceedings" said John Evans, analyst with oil broker PVM.

Dollar flat before Fed meeting, 2025 rate outlook in focus

(Reuters) -The U.S. dollar held firm on Wednesday before the Federal Reserve policy meeting later in the session which is expected to deliver a hawkish cut, trimming rates but suggesting less monetary easing ahead. Analysts recalled that the assumption that the Fed would reduce its level of 2025 easing had propped up the dollar recently, while markets kept pricing a 25 basis point rate cut. "We foresee a hawkish shift in the dot plot, consistent with the movement in market expectations since the last update in September," said David Doyle, head of economics at Macquarie.