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Day: May 4, 2022
SEC Willing To Approve a Spot Bitcoin ETF if Adequate Surveillance Measures Are in Place
The United States Securities and Exchange Commission seems willing to approve a spot ETF if adequate surveillance measures are in place. A footnote in a recent letter said as much, saying that it would overcome concerns about investor protection. The SEC is stubborn in its demands for investor protection and wants more supervision of the market before it allows such developments as a spot ETF. The United States Securities and Exchange Commission appears to be opening up to a possible spot bitcoin ETF in the near future, judging by a…
Proposed digital euro designs lack privacy options, ECB presentation shows
Next to the fears of government overreach that the European Union’s ambitious digital euro project stirred, the main concern of the public is the prospective currency’s privacy framework. It appears that this worry might not be overblown after all: as the European Central Bank’s (ECB) latest presentation hints, user anonymity is not a desirable design option. On May 3, crypto venture advisor and European digital asset regulation whistleblower Patrick Hansen drew public attention to the ECB’s presentation titled “Digital Euro Privacy options”. The document is relatively short and contains 9…
Council of Europe Calls for Crypto Laundering Clampdown
The rapidly evolving technology, which often spreads across multiple jurisdictions, poses a challenge for regulators, the report said, calling for enhanced regulation and supervision and better coordination among national agencies. A study due later this year will examine cryptocurrency laundering trends, it said. Source
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APE Surges, Sinks as Elon Musk Teases With Bored Ape Collage as Profile Picture
No direct correlation between the two events seemed to exist at writing time. Source
The Secret for Creating DeFi Content “Your Dad Could Understand” – Interview Bitcoin News
Known only as blocmates on Twitter, Grant is a crypto content creator that “your dad could understand,” and he specializes in DeFi which often has the most difficult kinds of crypto products to understand. He recently joined the Bitcoin.com News Podcast to talk about the market: Among the many interesting topics discussed this episode are the problems with the current DeFi ecosystem and some possible solutions, how to find good projects and what are the red flags to watch out for, can NFTs serve as a gateway to DeFi or…
Bitcoin's 'Mayer Multiple' Nears Point of Undervaluation Ahead of Fed
While the Mayer Multiple is nearing point of undervaluation, hawkish Fed expectations cloud prospects of bullish reversal. Source
Global private bank LGT to open Bitcoin and Ether trading
LGT Group, a top family-owned private banking and asset management group, is moving into cryptocurrency by launching Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein. Managing over $292 billion of assets, LGT Bank is preparing to debut digital asset custody and trading services in cooperation with Swiss cryptocurrency bank Seba, according to a joint announcement released on Wednesday. LGT Bank will initially offer custody and trading services for BTC and ETH, while Seba supports more than 14 cryptocurrencies, including altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ),…
BTC price gains 4% pre-Fed as MicroStrategy vows to protect Bitcoin from $21K crash
Bitcoin (BTC) saw classic “choppy” price action on May 4 with hours to go before fresh Federal Reserve cues. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bulls pin hopes on history Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it bounced between support and resistance after hitting $37,600 on the evening of May 3. A subsequent bounceback saw the pair clip $39,000 at the time of writing, providing relief to low-timeframe traders at 4.1% off the lows. More broadly, however, Bitcoin stayed rangebound and beholden to macro triggers…