Hong Kong Releases Tokenized Product Standards, Circle to Discontinue USDC on Tron

Market Update U.S. equities are under further pressure in Wednesday’s trading, with the SPY (-0.31%) and QQQ (-0.88%) trading lower as investors anxiously await Nvidia’s earnings later today. Crypto markets are showing more pronounced losses, with $BTC and $ETH falling 2.37% and 3.57%, respectively. Despite the declines, Bitcoin and Ethereum remain above their respective levels of $51k and $2.9k. AI-related tokens are cooling off after an impressive few weeks, as $TAO and $FET are down approximately 7% today, potentially succumbing to fear over Nvidia’s earnings. Mysten Labs has inked a partnership with Team Liquid, a prominent name in the esports industry, to offer an on-chain fan rewards program. The new rewards platform will launch on Sui in Q2 and allow fans to earn unique NFT collectibles that unlock new fan experiences. $SUI has gained nearly 300% in the last few months as TVL has been steadily increasing.The Hong Kong Monetary Authority (HKMA) released comprehensive regulations surrounding the sale and distribution of tokenized financial products. The standards hope to encourage innovation while protecting consumers who want to invest in tokenized financial products. The release outlines the type of products that fall within the new regulatory umbrella, excluding pr