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Apr 6, 2023 10:52 PM

BTCUSD | Market outlook Long

Bitcoin / United States DollarCoinbase

Description

The positive dynamics are constrained by two main factors: a decrease in the risks of a banking crisis and increased pressure from American regulators on the activities of cryptocurrency platforms. Thus, the US Commodity Futures Trading Commission (CFTC) filed a lawsuit against the largest exchange Binance and its head Changpeng Zhao, accusing them offering derivatives to American clients, helping to bypass the control program, and conducting insider trading. The situation can lead not only to significant penalties but also to a complete ban on the company's work in the country. Later, the Securities and Exchange Commission (SEC) accused the Beaxy trading platform of illegally distributing the BXY token, which is a security, in the amount of 8.0M dollars. The agency is already suing Ripple, Genesis, and Gemini, continuing to put pressure on the digital sector. At the same time, lawyers note that US officials still cannot agree on how to classify cryptocurrencies: for example, they are designated as goods in the CFTC lawsuit, and as securities in the SEC lawsuit. The lack of clear regulatory rules is already making many representatives of the cryptocurrency community think about moving business from the United States to other regions, primarily to Asia, where digital assets are treated much more loyally.
Comments
PtSp86
32k lvl very relevant.. a short would be a smart trade
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