The US SEC commissioner calls for more transparent rules on cryptocurrencies.

The US SEC commissioner calls for more transparent rules on cryptocurrencies.

In the light of the adoption of digital currencies by leading companies including Tesla and Mastercard, the US SEC commissioner stated the urgent need for consistent cryptocurrency regulations. In the face of crypto adoption by leading companies such as Tesla and Mastercard, the Commissioner of the US Securities and Exchange Commission, Hester Peirce, stated the […] Bitcoin (BTC) hovered near the $50,000 mark at press time late night Monday having risen nearly 8.2% over a seven-day trailing period, but at least six cryptocurrencies rallied over 100% in the same period. What Happened: BTC, which reached its all-time high of $49,487.64 on valentine’s day was outpaced on a seven-day basis by these… SEC said that it had engaged the CBN and would continue to work with it to understand the identified risks and ensure adequate mitigants are put in place. Bitcoin topped $50,000 Tuesday, continuing a stunning rise that has sent it soaring about $20,000 this year.

In the face of crypto adoption by leading companies such as Tesla and Mastercard, the Commissioner of the US Securities and Exchange Commission, Hester Peirce, stated the urgent need for specific cryptocurrency regulations. The SEC commissioner praised the presence of a new generation of investors in capital markets during an interview with Reuters. Peirce mentioned that it was too early to draw policy conclusions on stocks and other cryptocurrency assets from the recent Reddit hysteria.

Hester Peirce is known for her crypto-friendly approach, and she was often dubbed “Crypto Mom” by the group. She called for simple cryptocurrency rules and to eradicate the confusion about the status of digital assets in the US. SEC Commissioner said it’s not just that for some time there have been demands for clarification in crypto regulations and that a new administration offers the opportunity to take a fresh look, but it’s also a moment when others on the market tend to take a fresh look as well. That adds to our urgency to take some kind of action to provide more clarification in this area.

With rising demand from retail traders and the participation of institutional investors, regulatory authorities worldwide are preparing to control cryptocurrency assets. As previously mentioned, in its latest filing, Tesla, the world’s largest electric-car marker, announced that the firm invested $1.5 billion in the largest cryptocurrency in the world, Bitcoin. In the past week, Mastercard, one of the world’s largest financial companies, revealed that this year the company expects to embrace cryptocurrencies. The SEC Commissioner said there is an immediate need for a consistent regulatory structure for cryptocurrencies after the inclusion of major corporations in various cryptocurrencies.

Source: topbitcoinbuyer.com

Author: AC Nelson –


($BTC), ($ETH) – These 6 Cryptocurrencies Posted Over 100% Gains Last Week

($BTC), ($ETH) – These 6 Cryptocurrencies Posted Over 100% Gains Last Week

Bitcoin (BTC) hovered near the $50,000 mark at press time late night Monday having risen nearly 8.2% over a seven-day trailing period, but at least six cryptocurrencies rallied over 100% in the same period.

What Happened: BTC, which reached its all-time high of $49,487.64 on valentine’s day was outpaced on a seven-day basis by these coins:

The Graph (GRT) rose 129.41% in the period and was trading 14.27% higher over a 24 hours period at $2.23 at press time. Ravencoin (RVN) was up 122.17% over seven days and 15.73% over 24 hours at $0.082.

Icon (ICX), Bitcoin Gold (BTG), Dash (DASH) ad Lisk (LSK) all rose 120.70%, 111.05%, 108.19% and 104.87% on a seven-day basis. 

All these coins traded in the green at the press time. ICX was up 41.69% at $1.84, BTG traded 3.14% higher at $28.37.

DASH and LSK were up 24.68% and 11.37% at $262.26 and $3.44 respectively. 

Why It Matters: The price movement in the Graph is partly driven by a buzz on social media. This was also evident in the case of RVN on the r/Ravencoin Reddit forum.

Cointelegraph noted a boost in the prices of privacy-oriented coins such as DASH and Monero (XMR). 

Benzinga’s Take: Every time Bitcoin (BTC) runs up significantly higher, momentum in altcoins has been observed, as investors look for lower-priced assets to enter the market. The cryptocurrencies with smaller market capitalizations pose a significant risk and retail buyers should perform due diligence over the projects backing these coins before considering an investment.

Price Action: BTC traded 4.59% higher at $49,416.64 at press time. Ethereum (ETH) traded 4.99% higher at $1,817.70.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Source: cryptofinancialtimes.com

Author: Crypto Financial Times


Cryptocurrencies: SEC backs CBN, to suspend affected parties from fintech framework

Cryptocurrencies: SEC backs CBN, to suspend affected parties from fintech framework

“In recognition of the fact that digital assets may have the full characteristics of investments as defined in the Investments and Securities Act, 2007, the SEC Statement asserts that trading in such assets falls under SEC’s regulatory purview, except proven otherwise.”

Source: ksbcjournal.com

Author: Published 1 day ago


Bitcoin soars past $50,000 for the first time

Bitcoin soars past $50,000 for the first time

New York (CNN Business)Bitcoin topped $50,000 Tuesday, continuing a stunning rise that has sent it soaring about $20,000 this year.

The digital currency hit a record $50,602.53 before pulling back somewhat. Bitcoin is still up about 2% over the past 24 hours, and has rallied nearly 260% since the beginning of November.

Investors have sent the price of bitcoin skyrocketing during the pandemic as the Federal Reserve cut interest rates to near zero in March 2020 (and expects to keep them there for several more years), severely weakening the US dollar.

    That makes bitcoin, comparatively, an attractive currency. There’s a set limit to the number of bitcoins on the planet, and investors believe that once the supply runs out, the digital coin’s value can only increase.

    As bitcoin surges to all-time highs, big, name-brand investors are stockpiling it, and huge consumer companies are embracing it, further fueling bitcoin’s soaring valuation.

    MicroStrategy (MSTR), which has been a leading corporate investor in bitcoin, announced Tuesday that it would borrow $600 million from investors to buy even more bitcoin.

    Tesla, (TSLA) the most valuable car company on the stock market, said last week it is holding some of its cash in bitcoin rather than traditional currency. And it may soon accept the digital currency as payment for its cars.

    On Wednesday, Mastercard (MA) announced it will support “select cryptocurrencies” directly on its network later this year. That represented a major milestone for bitcoin: Square (SQ) and PayPal (PYPL) recently began allowing customers to trade bitcoin, but Mastercard will be bitcoin’s most mainstream, major platform yet.

    That’s adding a dose of validity and appeal to cryptocurrency for mainstream investors. For example, a top executive at BlackRock said last year that bitcoin could one day replace gold. And Jay Z and Twitter CEO Jack Dorsey announced Friday that the pair are establishing a bitcoin development fund.

    Bitcoin passed $20,000 for the first time in December, and it has more than doubled in value in three months.

    Appetite for risk

    Still, the recent cryptocurrency surge may be showing signs of a melt-up — over-enthusiasm fueled by the fear of missing out, not simply market fundamentals. Take Elon Musk’s sarcastic tweets about bitcoin rival Dogecoin in recent months: The digital coin, which itself was constructed as a cryptocurrency parody, shot up 50% earlier this month after Musk tweeted, only to crash over the past week.

    Anthony Scaramucci, Skybridge Capital’s founder, has a big stake in bitcoin and a fund geared toward wealthy investors: The SkyBridge Bitcoin Fund LP. But even he says people need to watch out. He told CNN Business last month that it could be a solid addition to the average investor’s portfolio, provided you have the stomach for it. After all, bitcoin prices crashed below $4,000 shortly after reaching a previous peak of just under $20,000 in December 2017.

    “This could be a blow up top bubble,” Scaramucci told CNN Business in January. “We expect the fund to be volatile and it could lose money,”

    Scaramucci said bitcoin could suddenly tumble 20% to 50%. But he also highlighted bitcoin’s staying power over the course of the past decade: If you took $1 and put 99 cents of it in cash and a penny in bitcoin, that investment strategy would have outperformed $1 invested in the S&P 500 over the last 10 years, he noted.

      “The more likely trajectory is that people can make a monumental amount of money. Bitcoin is unfettered by Federal Reserve policy or gold supply issues,” he said. “There is more demand for bitcoin now than supply. The price should go up.”

      — CNN Business’ Paul R. La Monica contributed to this report.

      Source: www.cnn.com

      Author: David Goldman, CNN Business


      The US SEC commissioner calls for more transparent rules on cryptocurrencies.

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