According to analysts, the Kremlin is trying to find a balance between regulating the industry and allowing it to grow.
In a bid to become a crypto hub, the city has proposed tax exemptions on profits from cryptocurrency investments for hedge funds, private equity firms, and family offices.
Bitwise’s proposed ETF aims to simplify crypto investing by allowing people to gain exposure to both Bitcoin ($BTC) and Ethereum ($ETH) without owning the assets directly.
Analysts suggest that Bitcoin is technically overbought and the correction helps stabilise the market.
Bitcoin’s rally has been a significant factor in driving Tether’s demand. Its value has risen sharply in recent weeks, peaking at $99,600 on 22 November.
During his time as SEC Chair, starting in April 2021, Gensler took a tough stance on regulating cryptocurrencies.
Bitcoin’s current rally has brought it tantalisingly close to the $100,000 mark. Earlier today, the cryptocurrency reached an intraday high of $98,312, reflecting a 6.7% gain in just 24 hours.
MicroStrategy’s bold Bitcoin strategy has had a major impact on its own success. The company has now climbed into the top 100 publicly traded companies in the US, now ranking 97th.
Experts believe the drop in the hashrate could mean that miners expect the current rally to slow down.
Crypto Regulation, Cryptocurrency
EURQ and USDQ: Pioneering MiCA-compliant stablecoins enter the market
Quantoz is launching EURQ & USDQ, the first MiCA-compliant stablecoins in Europe, backed by fiat reserves, Tether, Kraken, and Fabric Ventures. Secure & fast payments.
