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The cryptocurrency market experienced major growth in recent years and whether the U.S. Securities and Exchange Commission (SEC) should regulate cryptocurrency has become the center of attention.1 Care For Printed Clothes Senator Warren wrote to the SEC’s chairman Gary Gensler questioning if the SEC has authority to regulate cryptocurrency exchanges.2 With the volume of cryptocurrency trading growing tenfold on the popular exchange platform Coinbase in the last year, Warren warned about the potential danger for investors in the absence of any regulatory protections.3 The potential dangers include market manipulation, faking high volumes of trading, and cryptocurrency scams exploiting the platform’s anonymity.4 The SEC’s regulation could reduce volatility in the crypto market, but imposing compliance costs could also risk taking down the entire market, given the decentralized nature of cryptocurrency. How to protect the interests of potential investors without destroying the market became a major question for institutional regulators.
The SEC approved the listing and trading of several spot bitcoin ETFs in early 2024, which allow these ETFs to trade and hold actual bitcoin tokens in their portfolios. This followed earlier approvals of crypto futures ETFs (2021 for bitcoin futures, 2023 for ether futures). As we reported in March 2024, the SEC followed up the spot bitcoin ETF approval by focusing on the difference between ether and bitcoin’s cryptocurrency models. By mid-year 2024, it had given the go-ahead to spot ether ETFs and was reviewing applications by Grayscale and other major fund managers.
That distinction sounds technical, but it matters. The tokens at issue in those cases were all investments in a company. The fluctuations in the tokens’ values were really fluctuations in the companies’ values. That differs from the ordinary cryptocurrency. In those circumstances, the SEC is not trying to regulate the purchase and sale of traditional stocks or shares in a company. Rather, the SEC is trying to regulate cryptocurrencies generally, not tokens connected to the value of the company that issued the cryptocurrencies.
Recognizing the importance of digital assets and their risks, several legislative initiatives have been introduced in Congress to address various aspects of their issuance and use. These initiatives aim to provide a more comprehensive regulatory framework for blockchain-based digital asset activities.
Cryptocurrency news today
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
NewsNow aims to be the world's most accurate and comprehensive crypto news aggregator, bringing you today's latest headlines from the best alt coins and crypto news sites. Whether it's Bitcoin, Dogecoin, Diem, Ethereum or Ripple, Monero, Litecoin, Dash or NEM, we've got it covered.
The 2024 elections in the US, Asia, Europe and Africa are poised to influence the global regulatory framework for Bitcoin and crypto. Follow CoinDesk for essential updates and expert analysis to see what’s at stake.
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
NewsNow aims to be the world's most accurate and comprehensive crypto news aggregator, bringing you today's latest headlines from the best alt coins and crypto news sites. Whether it's Bitcoin, Dogecoin, Diem, Ethereum or Ripple, Monero, Litecoin, Dash or NEM, we've got it covered.
Cryptocurrency bitcoin price
You control your Bitcoin through a digital wallet, which has a private key. This key is like a password that gives you access to your Bitcoin. Without it, no one can move or spend your Bitcoin. The system is decentralized, meaning no single person or entity controls it. This makes Bitcoin secure and resistant to fraud.
A hard fork is a protocol upgrade that is not backward compatible. This means every node (computer connected to the Bitcoin network using a client that performs the task of validating and relaying transactions) needs to upgrade before the new blockchain with the hard fork activates and rejects any blocks or transactions from the old blockchain. The old blockchain will continue to exist and will continue to accept transactions, although it may be incompatible with other newer Bitcoin clients.
1. Supply and Demand of BTC Coins: Bitcoin has a fixed supply of 21 million coins, which creates scarcity. As demand increases, especially with events like Bitcoin halving (which reduces the rate at which new Bitcoins are created), the BTC to USD price tends to rise.
Bitcoin (BTC) was created by an unknown person or group using the name Satoshi Nakamoto. It was launched in January 2009 when the first Bitcoin block, called the Genesis Block, was mined. Bitcoin was designed as a decentralized digital currency, free from government control or interference.
