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Crypto

DigitalX says tokenised stocks near $3.6 billion, up more than fivefold from start of year

The tokenised stock market is growing quickly this year as regulatory preparations advance mainly in the United States, DigitalX said. The value of tokenised stocks circulating on-chain stood at $3.58 billion as of Oct. 23, up 5.3 times from the start of the year. It outpaced the 54 percent growth of the broader real-world asset market. DigitalX said Korea may need rules reflecting offshore trading of tokenised products based on Korean shares.

Crypto

Tom Lee warns KOSPI plunge shock may spread to crypto market

Fundstrat co-founder Tom Lee, known as an Ethereum bull, warned that a sharp fall in South Korean stocks could lead to additional selling in the cryptocurrency market. He said losses in the local equity market could spill over into other risk assets as investors cut exposure or face margin-related forced selling. Lee described the situation as “short-term pain” and mentioned Ethereum, highlighting short-term downside risks.

Crypto

Bank of Japan keeps policy rate at 1.0 percent; yen rebounds 3.5 percent intraday

The Bank of Japan kept its policy rate at 1.0 percent. The yen rose as much as 3.5 percent intraday against the dollar amid speculation about large-scale foreign exchange market intervention. Cointelegraph reported on July 31 local time that the BOJ decided to maintain the unsecured overnight call rate at around 1.0 percent. Eight of nine policy board members backed holding rates, while Hajime Takata proposed a 0.25 percentage point increase.