The U.S. House of Representatives has approved the Financial Innovation and Technology for the 21st Century (FIT21) Act for the regulation of crypto assets despite opposition from President Joe Biden and SEC Chair Gary Gensler. This landmark legislation secured a bipartisan approval with a vote of 279 to 136. “FIT21 is the first legislation of […] Source CryptoX Portal
While crypto prices stayed relatively flat after the FOMC minutes, U.S. stocks traded downwards on the slim likelihood of hawkish decisions due to inflation concerns. Despite positive consumer price index (CPI) reports from April, Federal Reserve officials remain skeptical that progress in beating inflation justifies cutting interest rates. According to the latest Federal Open Market Committee (FOMC) Minutes, price levels have allowed this year’s inflation rates to remain substantially above the Fed’s 2% target. Although some stakeholders at the policy meeting indicated consideration for rate hikes, officials like Chair Jerome…
The crypto industry has been dominated by the recovery of major cryptocurrencies and regulatory developments, but one unexpected player has taken the market by storm. Black Phoenix, a payment system protocol, and its native token, BPX, have witnessed an astonishing surge in price, outperforming the entire market with historical performance. Notably, Black Phoenix’s BPX token reached an all-time high of $2.60 on May 22, propelled by a staggering 4,400,000% growth in the past 24 hours and over 6,500,000% in the past fourteen days. This unexpected victory has caught the attention…
The Financial Innovation and Technology for the 21st Century Act Is a Watershed Moment for Our Industry Source
“We need rules of the road,” said Rep. Josh Gottheimer (D-N.J.), one of the Democrats who bucked the opposition of the White House and the ranking Democrat on the House Financial Services Committee, Rep. Maxine Waters (D-Calif.). He called it “well-reasoned, thoughtful, bipartisan legislation” and argued before the vote that “it’s fit to become law if we work together.” Source
The island-country’s digital minister has radical ideas for using open-source technology to provide public goods. Her approach is called Plurality and it’s gaining attention across the world. Daniel Kuhn meets her. Source
Recent developments in the crypto market indicate a strong bullish sentiment among Ethereum traders, particularly in the options market. Amid the growing anticipation for potential approvals of spot Ethereum exchange-traded funds (ETFs), there has been a noticeable shift in option pricing, with Ethereum call options becoming more expensive than put options across all expiries. This pricing pattern suggests the market is optimistic about Ethereum’s price prospects. Notably, A call option gives the holder the right, but not the obligation, to buy an asset at a specified price within a specific…
Uniswap Labs has responded to the U.S. Securities and Exchange Commission’s Wells Notice, asserting that its protocol does not fall under the agency’s regulatory jurisdiction. The response emphasizes the autonomous nature of Uniswap’s decentralized finance (defi) technology and argues against the classification of its activities as operating an exchange or broker. Uniswap Responds to SEC […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Crypto analyst Oscar Ramos has outlined why he doesn’t believe the Shiba Inu price can go above $0.01 this cycle. He made this statement while alluding to the possibility of the meme coin reaching $0.5 at some point in the future. Why Shiba Inu Can’t Go Above $0.01 Ramos mentioned in an X (formerly Twitter) post that Shiba Inu can’t go above $0.01 because of its current supply of over 589 trillion, according to data from CoinMarketCap. The crypto analyst made this remark while sharing a prediction chart from the…
Nvidia shares were lower by 1.5% just ahead of the close of regular trading Wednesday, with the earnings results due after the bell.Patrick Moorhead, founder and CEO of Moor Insights & Strategy, said in an interview with Yahoo Finance earlier this week that “the company is going to clearly beat expectations.” The stock has climbed 90% this year and more than 200% year-over-year. Source