Bitcoin Crashes @ The News Of SEC Investigation #crypto #web3
Bitcoin & total crypto dump @ the news of SEC currently investigating Binance's BNB cryptocurrency - Thus erased Monday gains.
However, Bitcoin may pumps @ the news of Senators Lummis & Gillibrand Bipartisan "Responsible Financial Innovation Act."
Lummis, Gillibrand Introduce Landmark Legislation To Create Regulatory Framework For Digital Assets:
Bipartisan "Responsible Financial Innovation Act" Addresses CFTC And SEC Jurisdiction, Stablecoin Regulation, Banking, Tax Treatment Of Digital Assets, And Interagency Coordination, Including An Advisory Committee.
Lummis-Gillibrand Focuses On Flexibility, Innovation, Transparency And Consumer Protections In Order To Integrate Digital Assets Into Existing Law And Provide Certainty To The Growing Industry.
There is no common set of definitions for digital assets today. Lummis-Gillibrand creates definitions that will enable discussions about digital asset regulation to take place in a consistent way, and for all Americans to know the laws that affect them.
Assign regulatory authority over digital asset spot markets to the CFTC.
Understanding that most digital assets are more similar to commodities than securities, the bill gives the CFTC clear authority over virtual currency spot markets, which aligns well with its current purview over other commodity markets.
Digital assets that meet the definition of a commodity, such as bitcoin or ether, which comprise more than half of digital asset market capitalization, will be regulated by the CFTC.
Bearish Fundamental Factors:
Higher interest rate hikes.
Current Fed's Quantitative Tightening (QT).
Geopolitical issues like Russia-Ukraine war.
Market anticipating high CPI report on June 10, 2022 (Might be greater than 8.3%).
Technical Analysis:
Bitcoin ranging the horizontal channel 29199.28 (Support) & 31817.16 (Resistance) since 1st June 2022.
Bitcoin still maintaining bearish sentiment in the short term.
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
If you have any questions, kindly write in comments below - I will answer them.
Kindly support this idea with your like and comment, thank you.
However, Bitcoin may pumps @ the news of Senators Lummis & Gillibrand Bipartisan "Responsible Financial Innovation Act."
Lummis, Gillibrand Introduce Landmark Legislation To Create Regulatory Framework For Digital Assets:
Bipartisan "Responsible Financial Innovation Act" Addresses CFTC And SEC Jurisdiction, Stablecoin Regulation, Banking, Tax Treatment Of Digital Assets, And Interagency Coordination, Including An Advisory Committee.
Lummis-Gillibrand Focuses On Flexibility, Innovation, Transparency And Consumer Protections In Order To Integrate Digital Assets Into Existing Law And Provide Certainty To The Growing Industry.
There is no common set of definitions for digital assets today. Lummis-Gillibrand creates definitions that will enable discussions about digital asset regulation to take place in a consistent way, and for all Americans to know the laws that affect them.
Assign regulatory authority over digital asset spot markets to the CFTC.
Understanding that most digital assets are more similar to commodities than securities, the bill gives the CFTC clear authority over virtual currency spot markets, which aligns well with its current purview over other commodity markets.
Digital assets that meet the definition of a commodity, such as bitcoin or ether, which comprise more than half of digital asset market capitalization, will be regulated by the CFTC.
Bearish Fundamental Factors:
Higher interest rate hikes.
Current Fed's Quantitative Tightening (QT).
Geopolitical issues like Russia-Ukraine war.
Market anticipating high CPI report on June 10, 2022 (Might be greater than 8.3%).
Technical Analysis:
Bitcoin ranging the horizontal channel 29199.28 (Support) & 31817.16 (Resistance) since 1st June 2022.
Bitcoin still maintaining bearish sentiment in the short term.
Do not forget the historical wise saying, "Never invest more than you can afford to lose."
Not a financial advise, I suggest using this only as a guide - Do your own research.
If you have any questions, kindly write in comments below - I will answer them.
Kindly support this idea with your like and comment, thank you.