FaZe crypto drama deepens as leaked chats expose backdoor dealings

The post USD/CHF rises on US dollar rebound, weak Swiss economic data appeared on BitcoinEthereumNews.com. USD/CHF trades slightly higher on Friday, around 0.8060, up 0.15% at the time of writing. The pair remains on track for a weekly gain, supported by the persistent weakness of the US Dollar (USD) amid growing expectations of interest rate cuts by the Federal Reserve (Fed). The US Dollar Index (DXY) is heading toward its worst weekly performance since July, despite a modest rebound on Friday driven by firmer US Treasury yields. Investors continue to price in substantial monetary easing over the next 12 months. According to the CME FedWatch tool, the chance of a 25-basis-point cut at the December meeting now stands at 85%, compared with less than 40% one month ago. This dynamic is reinforced by dovish comments from several Fed officials and this week’s soft US Retail Sales data. Speculation within the National Economic Council (NEC), suggesting that Kevin Hassett may emerge as the leading candidate to replace Jerome Powell in May, also fuels expectations of a prolonged easing cycle through 2026. In this context, US Dollar rallies are likely to remain contained unless the macroeconomic backdrop shifts meaningfully. In Switzerland, the Swiss Franc (CHF) lacks momentum following economic indicators that came in well below expectations. Swiss Gross Domestic Product (GDP) contracted 0.5% (QoQ) in Q3, below the 0.4% contraction consensus and after a revision of the previous quarter to 0.2%. Growth YoY slowed to 0.5%, far below the previously reported 1.3%. The only positive signal came from the KOF Leading Indicator, which improved to 101.7 from 101.03, slightly above consensus. Still, the data confirms a slowdown in the Swiss economy, reinforcing expectations that the Swiss National Bank (SNB) may keep its policy rate at 0.00% potentially through 2027, according to several analysts. Overall, the environment continues to favour USD/CHF upside, although the pair remains sensitive to…

The post Turkmenistan Passes Law to Regulate Crypto Market: Report appeared on BitcoinEthereumNews.com. Key Notes Turkmenistan has taken a step towards regulating the crypto ecosystem in its region. President Serdar Berdymukhamedov signed a law that will come into force on January 1. In the Central Asia region, Kyrgyzstan recently launched a national stablecoin in partnership with Binance. The Central Asia nation, Turkmenistan, has passed a law that legalizes and regulates digital assets. In a November 28 report, it was stated that the country will now begin to issue licences to cryptocurrency exchanges and crypto mining companies. The law, which was signed by President Serdar Berdymukhamedov, will come into force on January 1. Turkmenistan Crypto Legislation Goes Live on Jan. 1 The Neutral Turkmenistan newspaper reported that Turkmenistan’s President, Serdar Berdymukhamedov, has signed a new law that regulates crypto activities. According to a spokesperson, this new law will regulate several crypto-related activities. This includes the creation, storage, placement, use, and circulation of virtual assets in the country. It also defines the assets’ legal and economic status. This comes as the country intensifies efforts towards diversifying its economy beyond exports of natural gas, which it is well known for. The authorities in this region are hopeful that it will “help attract investment and stimulate digitalization.” Turkmenistan’s new legislation puts a structure to the organizational basis for activities involving virtual assets in the country. The document provides clarity on its crypto jurisdiction. In other words, its provisions do not extend to securities, currency, electronic money, bank deposits, or gambling activities. It also introduced official definitions for key terms such as blockchain, digital and Non-fungible Tokens (NFTs), mining, mining equipment, smart contracts, and virtual asset service providers. The signed law is scheduled to become effective on January 1, 2026 kickstarting the new year on a fresh start. Kyrgyzstan Takes a Bold Step on Crypto Apart from Turkmenistan,…

Metaplanet Inc. has formalized the subsidiary in Miami, Florida, naming it Metaplanet Income Corp.