China

The SEC Will Not Ban Crypto, That Would Be Up To Congress, Says Gary Gensler

The Securities and Exchange Commission’s Chairman, Gary Gensler, told Congress that the SEC will not ban cryptocurrencies. This is a huge relief, even though Gensler then said “that would be up to Congress.” The SEC Chairman is in the middle of quite a press tour, spreading his opinions on crypto around. Those had a lot of people worried, but today Gensler specifically said an outright ban isn’t on the cards. Related Reading | SEC’s Gary Gensler Crumbles When Asked If Ethereum Is A Security SEC Chair: No interest in a

China Can’t Regulate Virtual Worlds – The Pros of Decentralized Metaverses

China’s crackdown on cryptocurrencies has reached a new level of intensity in recent weeks. The People’s Bank of China (PBOC) has previously decided to prohibit financial institutions from dealing in virtual currencies, including Bitcoin and Ethereum. More recently, the PBOC has attempted to shut down cryptocurrency transactions and mining entirely. This news has sent shockwaves throughout the industry and caused many traditional financial firms to rethink their involvement with cryptoassets. In particular, it’s been a major blow for Chinese bitcoin miners who are now scrambling to find ways of preserving

United States Trade Representative Tai offers up position on steps needed to take with China

In remarks made yesterday at the Center for Strategic and International Studies, United States Trade Representative Katherine Tai provided details regarding the White House’s new approach to the United States-China bilateral trade relationship.Tai made it clear in recent years, Beijing has doubled down on its stat-centered economic system. “It is increasingly clear that China’s plans do not include meaningful reforms to address the concerns that have been shared by the United States and many other countries,” she said. “When it comes to our relationship with China, what’s best for American

$50K Fakeout? Bitcoin Trading Volume Isn’t Picking Up With Price Action

October has brought in a new surge in the bullish sentiment, in a couple of days, Bitcoin has returned to the $50,000. This signals the beginning of a new up-only season but could spell caution for the most experienced operators. Related Reading | Bitcoin Hash Rate Might Make New ATH Soon, What Does It Mean For The Price? At the time of writing, Bitcoin trades at $49,968 with a 4.4% profit in the daily chart. The first cryptocurrency by market cap was rejected north of the $50,000 and could trend lower

Bitcoin breaks above $50,000 for the first time in four weeks.

Cryptocurrencies were broadly higher on Tuesday afternoon as bitcoin crossed a key level of $50,000 for the first time in four weeks. Bitcoin was up 5.4%, trading at $50,120. Ethereum, the second-biggest crypto by market cap, was up 3.3% to trade at $3,445. “The big factor for the bitcoin price now is if it can continue to move higher, and that will only depend on where the price will close today [Tuesday],” said Naeem Aslam, chief market analyst at AvaTrade. Bitcoin is highly likely to see more upside moves. “In

Brazil announces tougher penalties for crypto money launderers.

Money launderers in Brazil who turn to digital currencies will face longer prison sentences and higher fines if a proposed bill gets through parliament. The proposed bill doubles the monetary penalty and prescribes over 16 years in maximum jail time for convicted offenders. Money laundering through cryptocurrencies has become a concern for many governments across countries in recent times, with some like China arresting over 1,000 this year for it. Brazil lawmakers proposed an amendment to financial laws to stop money laundering through crypto.  In Brazil, the Chamber of Deputies—the

Bitcoin worth surge to $49K prompts a number of altcoins to hit new all-time highs

On Sunday bulls made their intentions clear by briefly pushing Bitcoin (BTC) worth above the $49,000 degree, a transfer that prompted many merchants on crypto Twitter to name for the top-ranked digital asset to knock down the psychological resistance at $50,000. Data from Cointelegraph Markets Pro and TradingView exhibits that after trading in a spread with an higher restrict close to $48,200 for a number of days, bulls managed to interrupt larger and climb to an intraday excessive at $49,242, capping a 20% rally since trading at a low of

All bark and some bite. China’s Bitcoin ban puts traders in the ‘fear’ zone

China bans Bitcoin (BTC), again.No, we’re not traveling back in time. On Sept. 24, the People’s Bank of China (PBoC) published a new set of measures to promote inter-departmental coordination on cracking down on crypto activity. The measures intended to “cut off payment channels, dispose of relevant websites and mobile applications in accordance with the law.”Most investors may have missed the $3 billion BTC and $1.5 billion Ether (ETH) monthly options expiry that took place less than one hour before the crypto ban news came out. According to “Molly”, a

Morgan Stanley exec says Bitcoin is the ‘Kenny from South Park’ of money

Morgan Stanley's Dennis Lynch shared a light-hearted analogy during a discussion at Morningstar’s yearly investment conference today, claiming that Bitcoin’s insatiable ability to defy the odds and rise from both technical and fundamental adversity portrays that of the South Park cartoon character Kenny.The 24-series show has garnered a global audience base for its weird and wacky sense of humour, epitomised by the long-standing gag that Kenny dies in each episode, only to be rebirthed and gleefully unaware of his brutal demise in the following show. Head of asset management firm

Chinese crew landing caps record-setting day in human spaceflight

Shenzhou 12 astronauts Tang Hongbo, Liu Boming, and Nie Haisheng outside their landing capsule Friday. Credit: Xinhua Three Chinese astronauts landed in the remote Gobi Desert of northwestern China Friday, returning to Earth after a three-month mission on the new Tiangong space station, and ending a historic day in spaceflight that set a new record with 14 people in low Earth orbit. With the return of China’s Shenzhou 12 crew Friday, 11 people remained in orbit — seven on the International Space Station and four on a SpaceX Crew Dragon