Crypto and Asian Markets Strong as White House Averts Debt Ceiling Crisis, China's Web3 Policy Outlined in Whitepaper

Bitcoin and Ethereum prices have surged by 5.2% and 4.9%, respectively, following the White House's announcement of a deal to avoid a debt ceiling crisis. The CoinDesk Market Index (CMI) has also risen by 4% to 1,209, while the Nikkei 225 in Japan and Australia's ASX 200 have opened strongly on the news.

China has released a whitepaper outlining suggestions for its web3 policy, which has excited the crypto community on Twitter, but the document is more focused on enhancing internet infrastructure rather than addressing crypto. Digital Currency Group has closed its trade execution and prime brokerage services unit, TradeBlock, citing regulatory uncertainties and the crypto winter.


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