Spot trading volumes on centralized cryptocurrency exchanges have fallen for a second consecutive month, to $475 billion after registering a 7.78% decline. The figure marks the lowest monthly spot trading volume recorded since March 2019, meaning a 4.5-year low.
The U.S. Financial Accounting Standards Board (FASB) has recently approved new rules for the accounting treatment of digital assets, in a move that analysts at Berenberg Capital suggest will reduce negative perceptions affecting firms with crypto holdings.
Global banking behemoth JPMorgan Chase is reportedly exploring a blockchain-based digital payment and settlement system. While the firm has built much of the infrastructure for the project, it needs to get a green light from US regulators before moving forward.
Top stories in the Crypto Roundup today:
- Crypto Spot Trading Volume Hits 4.5-Year Low in August
- FASB to Introduce New Crypto Accounting Rules to Reflect Digital Assets’ Fair Value
- JPMorgan Chase Eyes Blockchain-Based Payment System
- Huobi Becomes Second-Largest Spot Crypto Exchange by Volume