SEC & Crypto Clash, BTC Price Surges
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SEC & Crypto Clash, BTC Price Surges
SEC Limits Debated; Bitcoin's Transaction Fees Soar; Ubisoft Goes Crypto
Welcome to Coinfeeds Daily Digest! Today we cover legislative developments challenging the SEC's reach in crypto, the market's anticipation of a potential SEC approval for Bitcoin ETFs, and Bitcoin's price surge. We also look at the impact of NFTs on Bitcoin transaction fees, the EBA's new guidelines for stablecoin liquidity, and the U.S. government's stance on dealings with Chinese blockchain firms and Tether. Plus, don't miss out on Ubisoft's blockchain gaming adventure and Lukso Blockchain's innovative Universal Profiles.
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U.S. House Moves to Limit SEC's Power Over Crypto Industry
The U.S. House of Representatives has recently taken steps to limit the enforcement power of the U.S. Securities and Exchange Commission (SEC) over the cryptocurrency industry. This move is part of a larger debate on how to regulate the burgeoning crypto industry in the United States. | Read More
SEC Could Approve 12 Bitcoin ETFs in Next 8 Days
The United States Securities and Exchange Commission (SEC) is currently in a position where it could approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications within the next eight days. This significant development includes Grayscale's conversion of its GBTC trust product. | Read More
Bitcoin's Price Surges as SEC Approval of Spot ETFs Looms
Bitcoin's price has been on a steady rise, pushing towards $36,000, in anticipation of the SEC's (SEC) approval of 12 spot Bitcoin ETF applications. This is the first approval window after Grayscale's court victory to convert its Grayscale Bitcoin Trust into a spot ETF. Analysts are optimistic, predicting a 90% chance that at least one spot bitcoin ETF gets approved by January 10. | Read More
Bitcoin Transaction Fees Surge 1000% Due to Popularity of Ordinals
Bitcoin transaction fees have seen a significant surge of nearly 1000% since August, largely due to the rising popularity of Bitcoin-linked non-fungible tokens (NFTs), known as Ordinals. The average transaction fees for using the Bitcoin blockchain are now at $6.84, up from a low of $0.64 in August. This surge in fees is providing a boost to struggling miners within the industry. | Read More
European Banking Authority Proposes Liquidity Guidelines for Stablecoin Issuers
The European Banking Authority (EBA) is taking proactive steps to regulate stablecoin issuers. The EBA has proposed new liquidity guidelines to ensure that stablecoins can be quickly redeemed even during market turmoil, preventing bank runs and contagion. The guidelines also require stablecoin issuers to offer fully redeemable stablecoins backed by a currency. | Read More
U.S. Government Introduces Bill to Prohibit Business with Chinese Blockchain Companies and Tether
The U.S. government has recently introduced a bill that aims to prohibit federal officials from conducting business with Chinese blockchain companies and Tether, the issuer of the USDT stablecoin. The move is part of a broader strategy to protect national security intelligence and the private information of American citizens from foreign adversaries. | Read More
Ubisoft Partners with Immutable to Create Blockchain Gaming Experience
Ubisoft, the renowned video game company behind popular titles like Assassin's Creed, is venturing further into the world of blockchain technology. The company is partnering with Immutable, a blockchain technology firm, to create a new gaming experience that will leverage crypto infrastructure. This collaboration aims to offer players digital ownership through the use of non-fungible tokens (NFTs). | Read More
Lukso Blockchain Launches Universal Profiles for Creative Industries
Lukso Blockchain, a platform that caters to the creative industries, has launched a new feature called "Universal Profiles" on its mainnet. This feature is designed to integrate the activities of creators under a single smart contract-based account, making it more than just a simple wallet address. | Read More