BTC and altcoins could continue to see selling, but a positive is that traders took shelter in stablecoins instead of completely exiting the crypto market. Source link
United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31. According to the senators, the bulletin amounts to “regulation disguised as staff…
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Many in the crypto world have been glued to their screens with eyes dead set on financial conditions this week. That isn’t the case for everyone though, as thousands are suddenly experiencing thewoes of sudden unemployment. Words of encouragement and sympathy also poured out across Twitter and LinkedIn consoling individuals released from their responsibilities. Some expressed…
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A group of 14 United States senators and House representatives have signed a letter to the Environmental Protection Agency extolling what they believe are the benefits of crypto mining. In a Thursday letter, many U.S. lawmakers including pro-Bitcoin Senator Cynthia Lummis and Representative Tom Emmer addressed EPA administrator Michael Regan, requesting the government agency analyze…
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The Russian government continues establishing links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments. Russia’s state-owned gas giant Gazprom Neft has entered into a partnership with BitRiver, the largest crypto mining colocation services supplier in Russia providing hosting services for major crypto mining operations. Gazprom will provide…
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Bitcoin (BTC) survived another night without breaking $20,000 on June 17 as $14,000 cemented itself as a likely bottom level. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader plans to go “all in” on BTC at $14,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $20,220 on Bitstamp overnight before rebounding up to…
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Crypto exchange Binance has courted controversy almost from its 2017 beginnings, and five years later, the dustups continue. On June 6, the United States Securities and Exchange Commission was reported to be investigating whether Binance Holdings broke U.S. securities rules in launching its digital tokens. Meanwhile, on the same day, Reuters published a scathing 4,700-word…
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The crypto sector may be maturing, but regulatory clarity around the treatment of digital assets continues to remain cumbersome. This was recently highlighted by Commissioner Hester Peirce — also known as the United States Securities and Exchange Commission’s (SEC) “crypto mom” — in remarks she made at “The Regulatory Transparency Project Conference on Regulating the…
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Hong Kong-based asset manager Babel Finance is the latest cryptocurrency lending firm experiencing some serious issues amid the ongoing market downturn. Babel Finance officially announced June 17 a temporary suspension of redemptions and withdrawals from its products, citing “unusual liquidity pressures.” “Recently, the crypto market has seen major fluctuations, and some institutions in the industry…
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The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022, when the total number of NFT platforms was just over 100. According to a report published by a local Chinese daily, the…
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