US House Committee releases new stablecoin bill draft
The draft bill is set to go before the House Committee for discussion on June 13, and if approved by the House and the Senate, it could become the first form of crypto legislation in the U.S.
The draft bill is set to go before the House Committee for discussion on June 13, and if approved by the House and the Senate, it could become the first form of crypto legislation in the U.S.
A Bitcoin inscription service aims to compete with Ordinals by offering smart contracts and larger file sizes.
We know media loves their click and we know how they love to bait it with false and misleading content. But this is some next level stuff. I hate to use the term FUD as most project only use it to ignore legitimate concerns by investors and traders but I can't find any other world…
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MiCA, which comes fully into force by the end of 2024, aims to create a consistent regulatory framework for crypto assets among European Union member states.
The bipartisan bills target government transparency when using AI and the formation of a new Office of Global Competition Analysis to stay on top of innovation.
So moons are at $0.1 now, falling around 30% from last week. Seems people are getting shaky with the Reddit API saga that's unfolding. What we're forgetting and I hate to play devil's advocate here, but Reddit is simply maximising their product for their IPO listing. It's sad that people won't be able to use…
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Ethereum is currently following the market trend of Bitcoin and continues to maintain above the $1,800 level. This price level is still bullish for the digital asset which is now only around 60% down from its all-time high. However, there is a threat to the stability that the digital asset has enjoyed so far which could send its price spiraling back down toward the $1,000 level. What Could Send Ethereum Back To $1,000? This week, the United States Securities and Exchange Commission (SEC) brought lawsuits against top exchanges Binance and Coinbase, with more regulatory action expected to come toward crypto firms as time goes on. But one of the most important parts of the lawsuit was the SEC naming some cryptocurrencies as securities. Related Reading: Cardano (ADA) Declines As Market Recovers Amid Security Charges The list which the regulator hinted was not exhaustive included the likes of Cardano (ADA) and Solana (SOL), among others. Interestingly, the SEC did not name Ethereum as a security despite the digital asset’s status being a hot topic of debate over the last year. What’s important about the cryptocurrencies that the regulator named is the fact that they are proof of stake (POS) networks, a mechanism which Ethereum transitioned to back in 2022. This has sparked speculation that while ETH was not listed as a security, it could very well be on the regulator’s radar to do so in the future. If Ethereum does get listed as a security, the cryptocurrency could become a target for the SEC, which is already in a drawn-out battle with Ripple for the same allegations. When Ripple was sued back in 2020, the asset suffered a massive crash of up to 60% of its value. A repeat of such an event for Ethereum could easily see the digital asset fall to $1,000, and even lower. ETH price resting above $1,800 | Source: ETHUSD on TradingView.com However, the SEC has not made any indications of going after Ethereum. Right now, it seems to have its hands full with Ripple, Binance, and Coinbase, all of which have been vocal about fighting the regulator in court as they object to the charges brought against them. ETH Price Still Holding Firmly Even amid speculations that Ethereum would end up being classified as a security, the token is still maintaining a bullish outlook in the mid to long-term. It is trading above its 100-day moving average of $1,758, which shows investors’ willingness to purchase the asset at prices higher than they did three months ago. Related Reading: Not Immune To FUD? Binance Sees $1.5 Billion In Outflows In 24 Hours As long as the bulls continue to maintain momentum, it is possible that ETH could continue to maintain above $1,800 before the next crypto market run-up begins. When this happens, Ethereum could easily clear the $2,000 level. At the time of writing, ETH is changing hands at a price of $1,839, down 0.35% in the last 24 hours with 1.22% losses on the weekly chart. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
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Bitcoin is attempting to cement an inverse head and shoulders pattern, success in which could spark a “sprint” to $40,000.