Erik Weijers, 9 months ago
A new, far-reaching bill on the regulation of crypto in the United States has been announced. The legislation is going to give clarity to both regulators and crypto companies. This is needed to break all kinds of deadlocks, for example that of the long-awaited Bitcoin ETF.
The legislation, called the Responsible Financial Innovation Act, is far from final and still needs to be guidedthrough four congressional committees before it gets to the Senate. What helps is that it is a bipartisan billshaped by Republican Senator Cynthia Lummis - a strong supporter of Bitcoin - and co-author Gillibrand, a Democratic senator.
Besides the crypto sector itself, clarity is also needed for investors. That seems to have arrived with this legislation. The crypto sector is making a substantial move from Wild West to regulated. Most institutional players have not ventured into crypto until now, partly because of the regulatory uncertainty.
According to analysts, the future introduction of the law also makes it more likely that a SPOT Bitcoin ETF could be approved (it already exists in a handful of countries but not yet in the US). This form of ETF was blocked by the SEC - but the SEC does not have to worry anymore about it after this law: it becomes the job of the other crypto watchdog, the CFTC.
Mar 10, 2023
Both Bitcoin, Ether and traditional bank stocks in the US dropped about 8% overnight. Both the crypto and the traditional financial sector have their issues. Let's list a few recent problems and deal with the negative news head-on, so we can focus on all the good developments later.
Mar 09, 2023
Paul Krugman is an elderly economist who thinks Bitcoin and other cryptos are rubbish - and hasn't been shy to share that opinion. Yesterday he got a taste of his own medicine from the crypto community after his tweet that he was kicked out of payment service Venmo. "Did you try to buy drugs?" Was a mocking response.
Mar 08, 2023
Ripple still has to deal with the SEC in court. Despite the ongoing fight over the question of whether the company was selling a security with XRP or not, Ripple continues to strengthen its efforts to advocate for crypto. A few days ago, Ripple published the results of a survey that was conducted together with the US Faster Payments Council.
Mar 07, 2023
The American financial watchdog SEC has for years denied a spot Bitcoin ETF. Without such an ETF, it is hard for institutional investors to get exposure to the 'magic internet money' called BTC. Currently, Grayscale is challenging the SEC's rejection of their ETF in court.
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