The US banking industry has been pushing “myths” about stablecoin yields to protect itself, and Congress should prioritize consumers rather than highly profitable banks, argues crypto lecturer and author Omid Malekan. “I am disappointed that market structure legislation seems to be held up by the stablecoin yield issue. Most of the concerns bouncing around Washington…
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The US Senate Agriculture Committee has pushed its markup of the crypto market structure bill to the end of January, saying it needs more time to garner support for the legislation. Committee Chairman John Boozman said on Monday that he wanted to advance a bipartisan-supported bill and has “made meaningful progress and had constructive discussions…
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US Senators Cynthia Lummis and Ron Wyden have introduced standalone legislation to ensure that blockchain developers and service providers who don’t directly handle user funds are exempt from money transmitter regulations. The Blockchain Regulatory Certainty Act (BRCA), introduced by Lummis and Wyden on Monday, aims to clarify that writing software or maintaining networks doesn’t trigger…
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Key takeaways: Institutional investors selling Bitcoin is visible through the Bitcoin ETFs recording $1.38 billion in net outflows across four trading sessions. BTC futures data shows a neutral 5% basis rate, well below the 10% level that typically defines a true bullish breakout. Bitcoin (BTC) price briefly jumped above $92,000 on Monday after US federal…
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Paul Atkins, chair of the US Securities and Exchange Commission (SEC), didn’t rule out the possibility of authorities seizing Venezuela’s reported Bitcoin holdings after US forces unseated and captured the country’s president. In a Monday interview with Fox Business’ Stuart Varney, Atkins responded to reports claiming that Venezuela holds up to $60 billion worth of…
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Credit rating company Fitch Ratings has flagged a high degree of risk associated with Bitcoin-backed securities, a warning that could complicate the expansion of crypto-linked credit products among institutional investors. In a Monday assessment, Fitch said Bitcoin-backed securities, financial instruments typically structured by pooling Bitcoin (BTC) or Bitcoin-linked assets and issuing debt against that collateral,…
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Bitcoin (BTC) onchain data shows BTC whales are active as the price attempts to extend its breakout from the $90,000 level. Key takeaways Bitcoin whale spending surged to $286 million, the largest spike since early November. Momentum indicators are bullish, but volatility is likely this week. Data from Capriole Investments indicated that OG Whale spent…
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Key points: Bitcoin could reach the $94,789 level, where the bears are expected to step in. Select major altcoins are showing strength, indicating that the recovery may continue for some more time. Bitcoin (BTC) bulls have pushed the price above $92,000, but higher levels may attract sellers. The net outflows of $1.37 billion from BTC…
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Bitcoin (BTC) is looking like the loser versus gold as precious metals top new all-time highs Monday. Key points: Bitcoin is not the debasement trade after years of loses against gold, analysis concludes. As precious metals hit all-time highs, BTC price action fails to rebound. Gold starts grilling the S&P 500, potentially shifting a years-old…
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Corporate Bitcoin investor Strategy added another 13,627 Bitcoin to its balance sheet last week, spending $1.25 billion as it continues accumulating Bitcoin early in the year. The purchase marks the company’s biggest BTC buy since July. In a Form 9-K filing with the United States Securities and Exchange Commission, the company disclosed on Monday that its…
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