Bitcoin dips but recovers back above US$30,000; Ether, most other top 10 crypto lose ground
Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.
Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.
The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”
XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).
As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.
Beijing municipal government plans to train 10,000 engineering talents each year in emerging technologies including blockchain, AI and big data.
The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.
Bitcoin rose to US$31,736 on Friday, bolstering Ethereum to above US$2,000, after the court ruled that the sale of XRP did not constitute a security. Bitcoin needs a close above US$31,000 to pave the way for US$32,500, market experts told Forkast.
A favorable U.S. court ruling for Ripple boosted Bitcoin prices. All top 10 non-stablecoin cryptos rallied with XRP prices gaining 62% in the past 24 hours.
Alex Mashinsky, founder and CEO of Celsius Network, pleaded not guilty after being arrested in the U.S. Thursday on several fraud-related criminal charges.
Bitcoin, all other top 10 non-stablecoin tokens logged gains Friday morning. That followed a favorable SEC ruling for Ripple, whose XRP token led the gains.