❤️❤️❤️Bitcoin - $70,000. Ethereum $3,500.
📢 SEC asked NYSE and other stock exchange to update Ethereum ETH filings. Probably this means that VanEck and other applications will be approved.
📢 SEC asked NYSE and other stock exchange to update Ethereum ETH filings. Probably this means that VanEck and other applications will be approved.
🇺🇸 US Congress will vote on crypto bill by the end of May
📝 According to Politico, the Financial Innovation and Technology for the 21st Century Act may be supported not only by Republicans, but also by some Democrats. This information is based on internal Democratic Party correspondence. However, another act which bans CBDC will probably be rejected by Democrats.
🔮 It is likely that the Financial Innovation and Technology for the 21st Century Act will be passed by Congress, and then everything will depend on the decision of the US Senate and President Biden.
📝 According to Politico, the Financial Innovation and Technology for the 21st Century Act may be supported not only by Republicans, but also by some Democrats. This information is based on internal Democratic Party correspondence. However, another act which bans CBDC will probably be rejected by Democrats.
🔮 It is likely that the Financial Innovation and Technology for the 21st Century Act will be passed by Congress, and then everything will depend on the decision of the US Senate and President Biden.
🇺🇸Crypto Bill has passed Congress
❤️🔥 The US House has approved the first federal law regulating cryptocurrencies in the history of the United States! It was supported by 279 congressmen. Only 133 Democrats and 3 Republicans voted against. The top nation takes new steps in favor of crypto faster than expected.
🔗 The bill got bipartisan support (almost half the Democrats and all Republicans) and has good chances to get approval from the Senate. Previously, the Senate approved a resolution cancelling the SEC Bulletin about storage of crypto assets - that resolution was approved in Congress with support from only 21 Democrats, but in the Senate, it had 60 votes against 38.
⚖️ In short, the law will definitely, perhaps with some edits, be passed by the Senate. The only question is whether President Biden will veto it. He has already supported the SEC’s chair, Gary Gensler, and criticised new legislation. However, Biden didn’t say anything about the possibility of a veto, so it's likely he won't take action.
❤️🔥 The US House has approved the first federal law regulating cryptocurrencies in the history of the United States! It was supported by 279 congressmen. Only 133 Democrats and 3 Republicans voted against. The top nation takes new steps in favor of crypto faster than expected.
🔗 The bill got bipartisan support (almost half the Democrats and all Republicans) and has good chances to get approval from the Senate. Previously, the Senate approved a resolution cancelling the SEC Bulletin about storage of crypto assets - that resolution was approved in Congress with support from only 21 Democrats, but in the Senate, it had 60 votes against 38.
⚖️ In short, the law will definitely, perhaps with some edits, be passed by the Senate. The only question is whether President Biden will veto it. He has already supported the SEC’s chair, Gary Gensler, and criticised new legislation. However, Biden didn’t say anything about the possibility of a veto, so it's likely he won't take action.
🇺🇸 SEC approves ETH ETF and BTC ETF has great inflow
🧑⚖️ The political and lobbying factor likely played a role in the change in the SEC's position - about 2/3 of Congress is in favor of limiting the SEC's authority over the crypto market. Unlike the Bitcoin ETF, the approval was not provided by a vote of five commissioners, but by its Division of Trading and Markets. However, ETH ETFs still need a separate SEC approval on Form S-1 to start trading.
📊 Despite the approval of the ETH ETF, the market has started falling, with BTC below $67,000. At the same time, US spot Bitcoin ETFs looked good this week with more than $800 million in total inflows for 4 days of the week. Let's see how that changes on Friday.
🧑⚖️ The political and lobbying factor likely played a role in the change in the SEC's position - about 2/3 of Congress is in favor of limiting the SEC's authority over the crypto market. Unlike the Bitcoin ETF, the approval was not provided by a vote of five commissioners, but by its Division of Trading and Markets. However, ETH ETFs still need a separate SEC approval on Form S-1 to start trading.
📊 Despite the approval of the ETH ETF, the market has started falling, with BTC below $67,000. At the same time, US spot Bitcoin ETFs looked good this week with more than $800 million in total inflows for 4 days of the week. Let's see how that changes on Friday.
📝 Crypto regulation updates
💬 The future of federal cryptocurrency law in the US is still not clear. Crypto enthusiasts are waiting for the Senate to finally approve the pending legislation, along with Congressman Patrick McHenry who also urged the Senate to pass it before the US Presidential election. He promised to do everything possible to put pressure on the Senate to speed up consideration of the law. However, it is still not clear when the Senate will vote on the matter.
🇳🇬 Nigeria will probably cancel restrictions on cryptocurrency trading after the resignation of the previous Central Bank governor. The Senate Finance Committee has called for the swift passage of legislation regulating this segment of the economy.
🧮 Overall, there has been little good or bad news this week, and the market continues to move sideways. At the same time, the inflow of funds into US spot Bitcoin ETFs continues with more than $100 million invested in the first 4 days of this week, according to Farside Investors.
💬 The future of federal cryptocurrency law in the US is still not clear. Crypto enthusiasts are waiting for the Senate to finally approve the pending legislation, along with Congressman Patrick McHenry who also urged the Senate to pass it before the US Presidential election. He promised to do everything possible to put pressure on the Senate to speed up consideration of the law. However, it is still not clear when the Senate will vote on the matter.
🇳🇬 Nigeria will probably cancel restrictions on cryptocurrency trading after the resignation of the previous Central Bank governor. The Senate Finance Committee has called for the swift passage of legislation regulating this segment of the economy.
🧮 Overall, there has been little good or bad news this week, and the market continues to move sideways. At the same time, the inflow of funds into US spot Bitcoin ETFs continues with more than $100 million invested in the first 4 days of this week, according to Farside Investors.
Cointelegraph
McHenry urges Senate to pass FIT21 crypto bill before election
The U.S. Senate needs “to get on” with passing the FIT21 crypto bill before the November elections, says Representative Patrick McHenry.
🇦🇺 Bitcoin ETF release in Australia
🧑⚖️This week in Australia, Monochrome Asset Management launched the country's third Bitcoin ETF. Unlike the two previous ETFs, this one is directly pegged to BTC.
🧑⚖️This week in Australia, Monochrome Asset Management launched the country's third Bitcoin ETF. Unlike the two previous ETFs, this one is directly pegged to BTC.
Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
Australia’s First Spot Bitcoin ETF With Direct Holdings Officially Begins Trading
Australia joins the US, Hong Kong, and more in launching a spot Bitcoin ETF this year.
📈 Record inflows to Bitcoin ETFs
💯 US spot Bitcoin ETFs received $887 million yesterday. One-day inflows have only been higher once, when $1.04 billion was invested on March 12. Together with the expectation of a rate cut in the US this year and the future listing of ether ETFs, this factor contributed to the bitcoin price rising to $71,000.
💯 US spot Bitcoin ETFs received $887 million yesterday. One-day inflows have only been higher once, when $1.04 billion was invested on March 12. Together with the expectation of a rate cut in the US this year and the future listing of ether ETFs, this factor contributed to the bitcoin price rising to $71,000.
Which of these countries does not yet have a local Bitcoin ETF?
Anonymous Quiz
30%
🇹🇭Thailand
17%
🇭🇰Hong Kong
32%
🇦🇪UAE
22%
🇦🇺Australia
🇭🇰 Hong Kong’s regulator promotes BTC and DLT
🧑💼 SFC Chairman Julia Leung has characterized Bitcoin as an "alternative financial asset" for the last 15 years. During her speech at the Greenwich Economic Forum she also mentioned blockchain technology as having the potential to enhance efficiency and lower costs in the distribution, clearing, settlement, and custody of real-world assets.
🧑💼 SFC Chairman Julia Leung has characterized Bitcoin as an "alternative financial asset" for the last 15 years. During her speech at the Greenwich Economic Forum she also mentioned blockchain technology as having the potential to enhance efficiency and lower costs in the distribution, clearing, settlement, and custody of real-world assets.
🇺🇿 Student arrested for Notcoin exchange
🧑⚖️ Local court in Uzbekistan has arrested a man for 10 days as a person, which has provided illegal activity in the field of crypto exchange. Also court ordered to destroy student’s smartphone and bank card.
🧑⚖️ Local court in Uzbekistan has arrested a man for 10 days as a person, which has provided illegal activity in the field of crypto exchange. Also court ordered to destroy student’s smartphone and bank card.
🇺🇸 Crypto falls: what’s happening?
🔻 Bitcoin price fell below $67,000, TON to $7, and Ethereum to $3,600. Other altcoins lost 3%-5% over the day. The market is experiencing a splash of volatility amid expectations of new data on inflation in the US. Despite the fact that the European Union and Canada have already announced rate cuts this year, the Fed probably will not announce follow suit.
🚰 That’s why investors are closing positions in risky assets, including cryptocurrencies. Yesterday, US Bitcoin ETFs had their first $65 million outflow for 19 days. The Fed is likely to cut rates this year, but not as quickly as crypto enthusiasts would like.
🔻 Bitcoin price fell below $67,000, TON to $7, and Ethereum to $3,600. Other altcoins lost 3%-5% over the day. The market is experiencing a splash of volatility amid expectations of new data on inflation in the US. Despite the fact that the European Union and Canada have already announced rate cuts this year, the Fed probably will not announce follow suit.
🚰 That’s why investors are closing positions in risky assets, including cryptocurrencies. Yesterday, US Bitcoin ETFs had their first $65 million outflow for 19 days. The Fed is likely to cut rates this year, but not as quickly as crypto enthusiasts would like.
🇺🇸 Gary Gensler: Ethereum ETF S1 will be approved this summer
🏛 During the Senate hearing this Thursday the SEC chairman Gensler claimed that Ethereum Spot ETF will get the full commision approval "by the end of this summer". After approval from US regulator these ETFs will become available for listing and trading on US stock exchanges.
🏛 During the Senate hearing this Thursday the SEC chairman Gensler claimed that Ethereum Spot ETF will get the full commision approval "by the end of this summer". After approval from US regulator these ETFs will become available for listing and trading on US stock exchanges.
Decrypt
Ethereum ETFs Likely to Launch This Summer, Says SEC's Gensler - Decrypt
Gary Gensler expects spot Ethereum ETFs to go live in the U.S. this summer, but still won't answer on the security vs. commodity question.
📰 Brian Armstrong: the industry needs clear crypto regulations
🧑💼 The Coinbase CEO has shared his vision of perspectives for crypto industry and his company's business development during Crypto Summit in NY. According to Armstrong, regulatory clarity is the biggest obstacle in the US. He thinks that US crypto regulations lag behind the UK, Singapore and the European Union. Armstrong hopes that the Senate will approve federal crypto law and remove existing regulatory uncertainty between the SEC and CFTC.
💯 Armstrong claims that more than half Fortune 500 companies have already invested in cryptocurrencies and after the adoption of new regulations, the number of institutional investors will increase even more. At the moment, the main investors in Bitcoin ETFs are not institutional investors, but individuals (80%).
🧑💼 The Coinbase CEO has shared his vision of perspectives for crypto industry and his company's business development during Crypto Summit in NY. According to Armstrong, regulatory clarity is the biggest obstacle in the US. He thinks that US crypto regulations lag behind the UK, Singapore and the European Union. Armstrong hopes that the Senate will approve federal crypto law and remove existing regulatory uncertainty between the SEC and CFTC.
💯 Armstrong claims that more than half Fortune 500 companies have already invested in cryptocurrencies and after the adoption of new regulations, the number of institutional investors will increase even more. At the moment, the main investors in Bitcoin ETFs are not institutional investors, but individuals (80%).
🇹🇷 Insider: Türkiye will impose tax on crypto transactions
📝 According to a local source, this tax will be included in a new legislation package dedicated to increasing state income. The tax rate will be 0,03% and will produce an estimated 3,7 billion liras per year. Currently, there is no official confirmation of this initiative, but it could be approved as early as this summer.
💸 India and Indonesia have a similar tax, at 1% and 0.1%-0.2% rates respectively. This type of tax is imposed not on user’s profit, but any crypto-fiat operations including crypto purchases. In India, this tax has caused users to turn to offshore exchanges.
📝 According to a local source, this tax will be included in a new legislation package dedicated to increasing state income. The tax rate will be 0,03% and will produce an estimated 3,7 billion liras per year. Currently, there is no official confirmation of this initiative, but it could be approved as early as this summer.
💸 India and Indonesia have a similar tax, at 1% and 0.1%-0.2% rates respectively. This type of tax is imposed not on user’s profit, but any crypto-fiat operations including crypto purchases. In India, this tax has caused users to turn to offshore exchanges.
CoinGape
Turkey Crypto Tax: Turkish Lira Woes Push Investors to Crypto, Here's Why
Turkey's new tax proposals aim to repair the budget hit by last year's earthquakes. Investors are increasingly turning to cryptocurrencies to hedge against the Turkish lira's weakness and inflation.
📉 Bitcoin below $65,000
📊 The crypto market continues to fall. This is probably the sell-off after the Fed didn’t meet rate cut expectations. Bitcoin ETFs also had a large outflow last week - about $726 million. Ethereum is at $3,400, TON at $7. Many altcoins in the top 100 (by cap) lost 10%-20% of their value.
🔀 However, this is likely a standard volatility spike and in the long term there is a perspective of rate cuts in the US.
📊 The crypto market continues to fall. This is probably the sell-off after the Fed didn’t meet rate cut expectations. Bitcoin ETFs also had a large outflow last week - about $726 million. Ethereum is at $3,400, TON at $7. Many altcoins in the top 100 (by cap) lost 10%-20% of their value.
🔀 However, this is likely a standard volatility spike and in the long term there is a perspective of rate cuts in the US.
🇺🇸 The SEC has closed its Ethereum investigation
🧑⚖️ This is the result of Consensys's (MetaMask) lawsuit against the regulator. The lawsuit probably made the SEC uncomfortable about its activity in this area. Given the subsequent approval of the Ethereum ETF and the broad political support of the crypto industry in US Congress, the SEC is now forced to abandon its attempts to qualify ETH as a security.
📈 Ethereum's price has increased to $3,550 from the $3,400 level since yesterday.
🧑⚖️ This is the result of Consensys's (MetaMask) lawsuit against the regulator. The lawsuit probably made the SEC uncomfortable about its activity in this area. Given the subsequent approval of the Ethereum ETF and the broad political support of the crypto industry in US Congress, the SEC is now forced to abandon its attempts to qualify ETH as a security.
📈 Ethereum's price has increased to $3,550 from the $3,400 level since yesterday.
🤑 Binance has integrated TON-USDT
✈️ As stated in an announcement on the exchange's website, USDT deposit on the TON blockchain is now available for Binance users. Based on Tether data, about $580 million of USDT is currently on the TON blockchain.
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😱 Have Mt.Gox repayments spooked the market?
🔻 The crypto market continues to go down. Bitcoin is at $61,380, Ethereum at $3,320. Solana and Doge are down 10% for the week, Shiba Inu has dropped 14% and Unii 17%. Mt. Gox's trustee has declared that the exchange will start repayments to investors in July. At least 140,000 BTC is ready for this purpose.
💴 This exchange was hacked 10 years ago, so Mt. Gox victims may choose to sell their Bitcoins after such a long wait. For comparison, the amount of BTC in the largest bitcoin ETF (IBIT) is currently 305,614 BTC.
📊 On the other hand, all of these sales will be spread out over time, so they probably won't affect the market that much. The market's current descent is happening due to other reasons - correction and the general negative background associated with the preservation of the Fed rate at the same level.
🔻 The crypto market continues to go down. Bitcoin is at $61,380, Ethereum at $3,320. Solana and Doge are down 10% for the week, Shiba Inu has dropped 14% and Unii 17%. Mt. Gox's trustee has declared that the exchange will start repayments to investors in July. At least 140,000 BTC is ready for this purpose.
💴 This exchange was hacked 10 years ago, so Mt. Gox victims may choose to sell their Bitcoins after such a long wait. For comparison, the amount of BTC in the largest bitcoin ETF (IBIT) is currently 305,614 BTC.
📊 On the other hand, all of these sales will be spread out over time, so they probably won't affect the market that much. The market's current descent is happening due to other reasons - correction and the general negative background associated with the preservation of the Fed rate at the same level.