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July 9 Crucial for Crypto: Here’s Why
The post July 9 Crucial for Crypto: Here’s Why appeared on BitcoinEthereumNews.com. What to expect from hearings Bitcoin’s performance At 10:00 in the morning ET on July 9, the U.S. Digital asset market structure will be the sole focus of the Senate Banking Committee’s first hearing. Lawmakers and business leaders will look at how order execution clearing procedures and cryptocurrency trading platforms should function under U.S. law. What to expect from hearings As participants process possible regulatory changes, the session’s results could lead to significant movements in Bitcoin, Ethereum and the rest of the cryptocurrency market. Senators Tim Scott, Cynthia Lummis, Bill Hagerty and Thom Tillis released a set of bipartisan principles in recent weeks that sought to define which regulatory bodies, the CFTC or the SEC, should be in charge of token exchanges and trading. Stablecoins and investor protections have been the main topics of discussion at hearings thus far. The shape of the cryptocurrency markets, including how orders are matched, what transparency requirements exchanges must adhere to and how digital asset derivatives should clear, will be examined by Congress for the first time on July 9. You Might Also Like Strong regulations pertaining to clearinghouse capital requirements, best-execution duties and exchange licensing help guard against manipulation and flash crashes on conventional equity and commodity markets. Today’s crypto exchanges differ greatly in terms of supervision and governance. Legislators will investigate whether comparable safeguards — like required registration trade monitoring and centralized clearing — are required to safeguard investors and encourage institutional involvement. Bitcoin’s performance Bitcoin has bumped its head on a descending trendline consolidating between $105,000 and $110,000 over the past month. Positive regulatory language, especially a clear jurisdictional assignment free of burdensome new encumbrances, could unleash upside momentum and propel Bitcoin to new heights. On the other hand, claims of steep compliance fees or restrictive licensing might lead to a…
The post July 9 Crucial for Crypto: Here’s Why appeared on BitcoinEthereumNews.com.
What to expect from hearings Bitcoin’s performance At 10:00 in the morning ET on July 9, the U.S. Digital asset market structure will be the sole focus of the Senate Banking Committee’s first hearing. Lawmakers and business leaders will look at how order execution clearing procedures and cryptocurrency trading platforms should function under U.S. law. What to expect from hearings As participants process possible regulatory changes, the session’s results could lead to significant movements in Bitcoin, Ethereum and the rest of the cryptocurrency market. Senators Tim Scott, Cynthia Lummis, Bill Hagerty and Thom Tillis released a set of bipartisan principles in recent weeks that sought to define which regulatory bodies, the CFTC or the SEC, should be in charge of token exchanges and trading. Stablecoins and investor protections have been the main topics of discussion at hearings thus far. The shape of the cryptocurrency markets, including how orders are matched, what transparency requirements exchanges must adhere to and how digital asset derivatives should clear, will be examined by Congress for the first time on July 9. You Might Also Like Strong regulations pertaining to clearinghouse capital requirements, best-execution duties and exchange licensing help guard against manipulation and flash crashes on conventional equity and commodity markets. Today’s crypto exchanges differ greatly in terms of supervision and governance. Legislators will investigate whether comparable safeguards — like required registration trade monitoring and centralized clearing — are required to safeguard investors and encourage institutional involvement. Bitcoin’s performance Bitcoin has bumped its head on a descending trendline consolidating between $105,000 and $110,000 over the past month. Positive regulatory language, especially a clear jurisdictional assignment free of burdensome new encumbrances, could unleash upside momentum and propel Bitcoin to new heights. On the other hand, claims of steep compliance fees or restrictive licensing might lead to a…
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