Table of Contents
Welcome to today’s overview of crypto news:
BTC fell below $ 60,000 a few days ago, but quickly regained that coveted limit earlier this week. It rose above $ 62,000 before returning to $ 60,500 and calmed down around $ 61,000 yesterday.
But here the bulls came to the word again. Within hours, they drove the cryptocurrency to $ 63,000. In addition, BTC continued to rise during the day, reaching a peak of $ 64,400, which means that it approached only 4% from ATH at $ 67,000. However, BTC failed to continue growing and has since returned by about $ 1,000.
The second largest cryptocurrency recorded another new historical maximum. This time, ETH surpassed the $ 4,600 mark, his latest record. Although the ETH has returned just below this level, it is still 5% higher than yesterday.
Miami Mayor Francis Suarez will take the next salary exclusively at BTC
Francis Suarez, the mayor of Miami, who is also a strong supporter of BTC, has announced that he will take his next paycheck exclusively in BTC. Mayor Suarez posted the report on Twitter on November 2, in response to a question from Morgan Creek co-founder Anthony Pompliano, a U.S. politician who would be the first to receive his BTC salary.
This report has been well received by the crypto community, which is always looking forward to such developments from those in the political system. Pompliano also responded to a tweet and asked Miami City CIO / Director of Innovation and Technology Mike Sarasti to help set up the process. He was excited and said that he had already initiated the registration link.
Coinbase browses for a large crypto asset built on Ethereum
Large-capitalized Altcoin, built on the ETH network, is growing after gaining support from the leading US crypto exchange, Coinbase. The announcement that the Crypto.com Coin (CRO) coin will be listed on Coinbase Pro contributed to growth of 17.1%.
The coin is intended to power the Crypto.com mobile wallet and payment application and ultimately power the ecosystem that connects consumers and merchants around the world.
According to CoinGecko, the CRO is currently worth $ 0.25. In 2021, the coin witnessed a wild ride, when the year started at $ 0.05 and reached a historic high of $ 0.27 in February, before returning to a low of $ 0.09 in June. The CRO is the 36th largest cryptocurrency by market capitalization. It was originally launched on the ETH platform and is now the native currency of the Crypto.com blockchain.
Banks, crypto exchanges, companies
Kraken and listing of Shiba Inu
Crypto exchange Kraken said it would consider listing Shiba Inu cryptocurrency in the future and said more work was needed. Brian Hoffman, head of Kraken’s product department, announced that the San Francisco-based exchange will launch the token on Tuesday if community members manage to gather 2,000 likes.
🐙 ♥ ️🐶 #SHIBArmy we’ve heard you loud & clear!
Community is an important part of our considerations for all listings, and you have clearly shown your support.
There’s more work for us to do as we move through our listing review process.
– Kraken Exchange (@krakenfx) November 2, 2021
Shiba Inu’s army smashed the target within minutes, but the listing did not take place yesterday to the displeasure of some SHIB fans. Kraken claims to have heard one of the largest crypto-community loud and clear.
The oldest Thai bank acquires a 51% stake in the Bitkub crypto exchange
The first Thai commercial bank, Siam Commercial Bank, acquired a 51% stake in the Thai exchange Bitkub, according to an announcement published on November 2. The exchange said that the transaction will serve the long-term growth of the platform and “lay the foundations for the financial business of the future world”. The bank bought a stake for about $ 537 million.
The transaction is expected to close in the first quarter of 2022, but the announcement indicates that all parts are ready. This would be the first time a commercial bank in Thailand had a stake in a crypto exchange. The transaction will be subject to approval by financial regulators.
The SEC extends the deadline for the decision on the Valkyrie BTC fund despite the recent approval of the ETF
Following an influx of activities and approvals late last month, the US Securities and Exchange Commission (SEC) has returned to its delays with further extensions of deadlines for BTC funds.
In a statement of designation filed on November 1, the SEC reiterated that it needed more time to decide whether to approve or reject the Valkyrie BTC Fund.
The new deadline was moved from November 8 to January 7, 2022. This is the third time that the decision was postponed after the delays in June and August. The notification shall state:
“The Commission shall extend the period for approving or not approving the proposed amendment to the rules by a further 60 days.”
Plant for the regulation of stablecoins
The administration of US President Joe Biden is urging Congress to pass legislation on stablecoins, according to an expected report released this week. The report is a bold first step in regulating the sector, following proposals from the Securities Commission and the Ministry of Finance in recent months.
The report, issued by the Presidential Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Currency Controller, proposes that stablecoin issuers be subject to a regulatory framework similar to that governing the banking sector. It also recommends that wallet providers offering stablecoin storage services operate under federal oversight.
The report in the footnote suggests that the Securities and Exchange Commission, the Commodity Futures Trading Commission and other agencies should play a role in overseeing cryptocurrency, lending and borrowing.