BTC Fees Up 40%: Avg. 30/Day

Ritu13

▌ Hong Kong Maintains Leading Position for the Second Consecutive Year in the ""Most Crypto-Friendly Regions Worldwide"" Rankings
Blockchain network reports that Hong Kong has once again been ranked as the ""most crypto-friendly region for widespread adoption"" in 2023, maintaining its leading position for the second consecutive year. Today's Crypto Readiness Score (CRS) rankings were released, with Hong Kong holding the top spot with a CRS (crypto readiness score) of 8.36. The CRS score for the United States dropped by 6.5%, from 7.7 in 2022 to 7.25, placing it in third position. In contrast, Switzerland's CRS score increased by over 9%, rising from 7.5 to 8.18, taking second place globally.

▌ Bitcoin Network Fees Increased by 40% This Week, Averaging 30 BTC Per Day
On September 15th, IntoTheBlock data shows that Bitcoin network fees increased by 40% this week, stabilizing at around 30 BTC per day. This represents a twofold increase compared to the same period last year (before the launch of Ordinals).

▌ Hong Kong Monetary Authority: Some Virtual Asset Entities Use ""Bank"" Claims Falsely or Are Suspected of Criminal Activity
On September 15th, the Hong Kong Monetary Authority issued a statement noting that some virtual asset entities refer to themselves as ""crypto banks,"" ""virtual asset banks,"" ""digital asset banks,"" ""digital banks,"" or ""digital trading banks,"" and may claim to provide banking services or bank accounts. Some virtual asset entities also use the term ""deposits"" to describe funds held with them or promote savings plans as low-risk and high-return, which can be misleading. According to the Banking Ordinance, only licensed banks, restricted license banks, and deposit-taking companies (collectively referred to as authorized institutions) licensed by the Hong Kong Monetary Authority are allowed to carry on a banking or deposit-taking business in Hong Kong. Any person, apart from an authorized institution, who uses the term ""bank"" as part of its name or description in Hong Kong, or represents themselves as a bank or as conducting banking business in Hong Kong, commits an offense. No person shall carry on a deposit-taking business in Hong Kong or invite the public to make deposits unless authorized, and such conduct is also an offense. The Hong Kong Monetary Authority reminds the public that virtual asset entities not licensed as Hong Kong banks are not subject to its supervision, and funds held with such entities or platforms are not covered by the Hong Kong Deposit Protection Scheme.

Market Data
As of the time of writing, according to coinmarketcap data:

- BTC recent trading price is $25,946.8 USD, with a daily change of +0.73%.
- ETH recent trading price is $1,591.95 USD, with a daily change of +0.93%.
- BNB recent trading price is $211.4 USD, with a daily change of +1.15%.
- XRP recent trading price is $0.47802 USD, with a daily change of +1.34%.
- DOGE recent trading price is $0.061133 USD, with a daily change of +0.46%.
- ADA recent trading price is $0.2469 USD, with a daily change of +0.61%.
- SOL recent trading price is $18.2 USD, with a daily change of +1.35%.