05.08. [News of the day] • The Securities and Exchange Commission has no authority over cryptocurrencies and other articles

Welcome to today’s overview of crypto news:

MARKETS

Over the last three days, the value of BTC has gradually declined and lost one support after another. It peaked yesterday when the asset fell to a weekly low of $ 37,500. At this point, however, the bulls boarded and reversed the trajectory. In the following hours, BTC began to rise against the dollar, adding about $ 2,500 in value. As a result, it reached a level of approximately $ 40,000. Nevertheless, this test was unsuccessful and BTC failed again. Currently, the cryptocurrency is trading at just under $ 39,000.

ETH, which today welcomes the London Hard fork, bounced off the low and shot to almost 2,800 USD. It became its highest price limit in almost two months.

Technical analysis: DOGE / USD – Dogecoin finished?

Cryptocurrencies

The FTX wallet adds support for BUSD and BNB tokens to the Binance Smart Chain

As part of its wallet services, FTX has launched support for BEP-20 tokens on the Binance Smart Chain, which appears to be an ongoing market penetration effort. Although no official announcement was made, FTX CEO Sam Bankman-Fried confirmed the development by saying:

“Ftx.com/wallet now supports BSC for BUSD and BNB! (Withdrawals are already in operation – * I think * that the deposits as well, otherwise they will be very soon.) “

Based on the available information, FTX wallets now actively support withdrawals for Binance USD (BUSD) and Binance Coin (BNB), which are natively part of the Binance chain. The company will soon allow users to make deposits via BSC BEP-20 tokens. However, these services are not yet available for the FTX platform targeting the United States, FTX US and other prohibited jurisdictions.

Whales moved $ 1.6 billion in BTC and ETH

Crypto traders are watching a series of massive BTC and ETH transactions. According to the Whale Alert tracker, several whales moved more than $ 1.6 billion in BTC and $ 570 million in ETH in 12 hours.

The largest transfer of BTC meant sending 10,000 BTCs from several addresses associated with Xapo, a custodian of Binance. This transfer was worth a staggering $ 394,325,100.

The other four whales moved BTC between unknown wallets, transferring roughly the same amount of cryptocurrency in each transaction. The largest of these transfers was 7,835 BTC and the smallest was 7,819 BTC. The others sent 7,831 and 7,833 BTC.

Banks, crypto exchanges, companies

Coinbase acquires Zabo, a crypto data aggregator

Crypto exhange operator Coinbase has acquired Zabo, a crypto data aggregator that allows fintech and financial services companies to connect to crypto exchnages, wallets and protocols.

Zabo announced the news on Wednesday, joining Coinbase to support its mission to bring crypto mainstream. Zabo did not disclose the financial terms of the agreement, but co-founder Alex Treece told The Block that it was an acquisition, not a takeover, meaning that Coinbase was buying Zabo because of its offer, not just its employees.

DBS Bank’s digital exchange assets grew by 60% in Q2

The head of Singapore’s DBS Bank, the largest creditor in Southeast Asia, said the bank’s digital exchange traded up to S $ 180 million ($ 133 million) in the second quarter of 2021 and held digital assets worth about 130 to 140 million. million USD. The bank was one of the first traditional lenders in the region to launch its own digital exchange.

“I’m quite happy, it’s going pretty well,”

said DBS CEO Piyush Gupta in response to a question about the DBS digital exchange during a briefing on the bank’s financial results for the second quarter of 2021 for analysts. Gupta said his goal is to increase the investor base of the digital exchange to approximately 1,000 customers from the current “less than 400” this year.

CBDC, Regulation

The Securities and Exchange Commission has no authority over cryptocurrencies, says the CFTC commissioner

Against the background of the broadening of the scope of supervision of the cryptocurrency industry by the United States Securities and Exchange Commission, the Commissioner for Commodity Futures Trading argues that the regulation of cryptocurrencies does not fall within the competence of the SEC.

CFTC Commissioner Brian Quintenz said on Twitter on Wednesday that cryptocurrencies such as BTC should be regulated by the CFTC rather than the SEC. Quintenz emphasized that cryptocurrencies are commodities and therefore fall under the jurisdiction of the CFTC, unlike securities that are regulated by the SEC.

Only one US regulatory agency has experience regulating markets for #BTC & #Crypto and it is not @SECGov. It is @CFTC. If #BidenAdministration is serious about sensible #Cryptocurrency #regulation, it needs to nominate a CFTC #chairman.

– Chris Giancarlo (@giancarloMKTS) August 4, 2021

Melanion Capital launches the first regulated ETF on BTC in Europe

According to the Financial Times, the French asset management company is preparing to launch an EU-regulated trading fund that will monitor the price of BTC. The Melanion ETF will be one of the first products on the European market to allow investors to work with highly volatile assets through investment funds.

The new ETF will monitor up to 30 shares of the cryptocurrency and blockchain mining industry, which Melanion says is up to 90% correlated with the BTC price.

The launch of these investment products most likely means the gradual take-up of digital assets that were not previously welcomed by financial regulators and institutional investors.

Winston Penhall, a fund lawyer at London’s Keystone Law, said the newly released ETF was the first cryptocurrency investment product in Europe to operate under the Collective Investment in Transferable Securities Directive (UCITS).