The legislation was passed in 2021 with amendments to the Payment Services Act (PS Act), the framework to regulate payment service providers. It was supposed to be enacted in the fourth quarter of 2021, but the MAS made the changes live only on Tuesday. Since 2021, the cryptocurrency sector has seen huge turmoil with the crash of FTX, leading to regulatory changes across the world. Source
“Markets are focused on the ISM report, though, with 10Y Treasury yields up 10bp on the back of the return of manufacturing growth and higher inflation readings from the sector. There are 20 or so individual Federal Reserve speeches this week, and the market is likely thinking that today’s outcome will make officials wary of committing to significant policy easing,” analysts at ING said in a note to clients on Monday. Source
In the ever-evolving world of cryptocurrency investments, technical analysis continues to play a significant role in shaping investor sentiment and market trends. Amidst the volatile landscape, one analyst, known as Charting Guy, has garnered attention for his bold predictions regarding the future of two prominent digital assets: XRP and Stellar (XLM). Will XRP Rally “Melt” Faces? Charting Guy’s recent tweet has made waves, declaring that investors in XRP and XLM will soon witness “melting faces” as he identifies a potential $13 movement. This provocative statement underscores his confidence in the…
“I’m haunted, every day, by what was lost. I never intended to hurt anyone or take anyone’s money. But I was the CEO of FTX, I was responsible for what happened to the company, and when you’re responsible, it doesn’t matter why it goes bad. I’d give anything to be able to help repair even part of the damage. I’m doing what I can from prison, but it’s deeply frustrating not to be able to do more,” he said to ABC News. Source
Dogecoin is correcting gains from the $0.230 zone against the US Dollar. DOGE must stay above the $0.1750 support zone to start a fresh increase. DOGE struggled to stay above $0.225 and corrected gains against the US dollar. The price is trading above the $0.1750 level and the 100 simple moving average (4 hours). There was a break below a key bullish trend line with support at $0.2040 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price could restart its increase unless there is a…
Ethereum price faced rejection and dropped from the $3,650 zone. ETH retested the $3,320 support and might start another increase. Ethereum started another decline and traded below the $3,500 support zone. The price is trading below $3,500 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it settles above the $3,450 resistance zone. Ethereum Price Dips Again Ethereum price struggled to continue higher above…
Bitcoin price started another decline from the $70,000 resistance zone. BTC is down over 5% and there was a move below the $67,500 support. Bitcoin price is gaining bearish momentum from the $70,000 resistance zone. The price is trading below $68,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $68,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its decline toward the $64,000 support zone in the near term. Bitcoin Price Turns…
In a recent interview with ABC News, Sam Bankman-Fried (SBF), the co-founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, spoke about his remorse and plans for an appeal following his recent 25-year prison sentence for fraud. FTX Co-Founder Admits Errors Bankman-Fried, currently held at the Metropolitan Detention Center in Brooklyn, shared his reflections on the unfolding events. He admitted to making several “bad decisions” in 2022 that led to FTX’s insolvency. Although he claimed he had never considered his actions illegal, Bankman-Fried acknowledged falling short of the “high…
Bitcoin (BTC) has been making waves with its steady climb towards setting a new all-time high (ATH), currently finding a foothold at the $68,000 zone. This level of performance represents a culmination of investor confidence, market dynamics, and underlying economic factors that paint a broader picture of the digital currency’s “resilience and appeal.” Crypto analyst Ali has recently shed light on a critical juncture in Bitcoin’s journey, identifying a significant resistance level that could influence its short-term price movements. Key Resistance Awaits Ali’s analysis brings to the forefront a specific…
Litecoin (LTC) has shown a notable performance in the first quarter of the year, reaching over 30 million transactions by March 30. Last year, this feat was achieved around July when LTC traded at around $113. The US Commodity Futures Trading Commission (CFTC) recently classified Litecoin as a commodity alongside Bitcoin and Ethereum. The designation and rumors of a Litecoin exchange-traded fund (ETF) sparked bullish sentiment. Analysts and investors have forecasted a strong performance for the token. Is Litecoin Out Of The Woods? Litecoin surged 10% last week, seemingly fueled…