The FIT21 Bill is frequently cited by analysts as a critical step towards cryptocurrency regulation. A big bill that is presently passing the US House of Representatives is called the Financial Innovation and Technology for the 21st Century Act (FIT21). Why it matters is as follows:Regulatory Framework for Digital Assets:In …
Read More »Bitcoin Falls Amidst Dollar Weakness and Regulatory Concerns, Altcoins Extend Losses Ahead of U.S. CPI Data
Bitcoin’s DownturnBitcoin experienced a slight decline on Wednesday, failing to capitalize on a weakened dollar as traders adopted a cautious stance ahead of key U.S. consumer inflation data. The world’s largest cryptocurrency dipped by 0.9% to $61,974.9, signaling subdued market sentiment. Fed’s Cautionary RemarksBitcoin’s lackluster performance persisted despite the dollar’s …
Read More »Bitcoin Faces Pressure as Dollar Strengthens Ahead of U.S. Inflation Data
Bitcoin’s price dipped on Monday, once again testing crucial support levels as sentiment towards cryptocurrencies struggled to improve amid anticipation of U.S. inflation data that could influence interest rates. While the dollar stabilized after last week’s losses, it added to the downward pressure on crypto markets. Traders maintained a bias …
Read More »Bitcoin Declines On Interest Rate, Regulatory Concerns
Bitcoin price declined on Wednesday, reversing a rebound seen over the weekend due to persistent concerns over more regulatory scrutiny against the cryptocurrency industry. The dollar rebounded from recent losses after Federal Reserve officials signaled that the central bank was more likely to keep rates unchanged in 2024. Bitcoin fell …
Read More »Crypto companies ask Democrats for easier legislative stance
Bothered by a US Securities and Exchange Commission crackdown, cryptocurrency companies are renewing their efforts on Capitol Hill to reap support for legislation that they hope will control the organization and provide the sector regulatory clarity.According to 6 executives, the Blockchain Association, Chamber of Digital Commerce, Crypto Council for Innovation, …
Read More »Binance’s regulatory hardship in Australia drags BNB price lower
Binance native token BNB fell to $241. Binance’s now-defunct local derivatives business is undergoing a probe led by Australia’s financial markets regulator. In April, Binance applied for cancellation of its derivatives business license and continued operations of the spot exchange. The Australian financial regulator has searched Binance’s offices in the …
Read More »Why is Bitcoin surging on Thursday?
The price of several cryptocurrencies moved higher on Thursday after the Fed’s March meeting yesterday, as well as due to some token-specific news. The price of Bitcoin, the biggest cryptocurrency in the world, has increased by around 4.8% since late yesterday afternoon, reaching a high of $28,700. Bitcoin is trading …
Read More »New US Draft Law classifies digital assets as commodities
A widely anticipated crypto regulation was unveiled on Tuesday. The draft law provides some long awaited clarity for crypto markets and provided definitions for most digital assets as commodities, giving most of the oversight to the Commodity Futures Trading Commission.Known as the Responsible Financial Innovation Act, the draft law was …
Read More »Panetta: ECB needs ‘coordinated regulatory action’ on crypto
European Central Bank executive board member Fabio Panetta said lawmakers across the world must decide how to regulate cryptocurrencies based on potential risks.In a written statement for a speech to Columbia University on Monday, Panetta said global policymakers had made some progress in addressing regulatory frameworks on digital assets, but …
Read More »Powell: Digital Currencies Will Require New Regulations
Federal Reserve Chair Jerome Powell said Wednesday that new forms of digital money such as cryptocurrencies and stablecoins present risks to the US financial system and will require new rules to protect consumersPowell, speaking Wednesday on a panel organized by the Bank for International Settlements, a global organization of central …
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