Table of Contents
Welcome to today’s overview of crypto news:
MARKETS
With the legal admission from El Salvador approaching and the first BTC purchases in the country approaching, the price of BTC has been rising slowly but surely in recent days. Last week, the price of BTC fell below $ 47,000, but the bulls began to push it north again. For the first time, she returned over $ 50,000. Instead of withdrawing, as in the last few cases where BTC faced this level, this time the BTC continued to march upwards.
As a result, it climbed above $ 51,000 and $ 52,000. A few hours ago, it even touched $ 53,000, the highest price level since mid-May.
Altcoins have seen impressive growth recently, with ETH leading the way. A few days ago, the ETH climbed above $ 4,000 for the first time since mid-May. Since then, however, the second largest cryptocurrency has subsided and is currently below $ 3,900.
Cryptocurrencies
Salvador made history by buying 400 BTC
Salvadoran President Nayib Bukele revealed on Twitter on Monday that the Central American country had successfully purchased 200 BTC. The country thus became the first government in the world to invest in cryptocurrencies.
The president suggested it could be the first of many purchases, as his “brokers will buy much more as the deadline approaches.” Later in the day, he revealed that the country had purchased another BTC, increasing its total holdings to 400 BTC.
Solana moved to 6th place
On7. In September, as Solana ‘s SOL token continued to rise rapidly and furiously in the market capitalization table, even the most bullish analysts were forced to raise their target prices, with one explaining how the SOL price could reach $ 900.
SOL is Solana’s blockchain native token. Solana is an “open source project implementing a new, high-performance unauthorized blockchain” managed by the Geneva-based Solana Foundation.
SOL’s move to sixth place in the cryptocurrency capitalization chart comes just four days after it overtook Dogecoin (DOGE) and became the seventh most valuable cryptocurrency. This time, the XRP token has become a victim of Solana, which has been doing quite well in recent days.
Banks, crypto exchanges, companies
Bitfinex launches a security token platform regulated in Kazakhstan
Hong Kong-based crypto exchange Bitfinex enters the security token (STO) industry and launches a new STO platform regulated in Kazakhstan. Bitfinex Securities, a provider of blockchain-based investment products, launched its investment exchange regulated at the National Financial Center of Kazakhstan – the Astana International Financial Center (AIFC), as the company officially announced on Monday.
The new STO platform will reportedly operate within the AIFC Fintech Lab, a regulatory sandbox set up in the AIFC by the Astana Financial Services Authority to support the development of the financial sector. Astana-based Bitfinex Securities will be available 24 hours a day, 7 days a week and will provide investors with more opportunities to diversify their portfolios by raising capital for issuers wishing to trade their tokens publicly.
CBDC, Regulation
The British regulator criticizes Kim Kardashian for supporting a speculative token
Charles Randell, chairman of the UK’s Financial Conduct Authority and chairman of the Payment Systems Regulator, in his last speech, mentioned the influential celebrity Kim Kardashian for supporting a relatively unknown and unregulated token. In June, Kardashian supported the EthereumMax project, which was launched by unknown developers in May 2021.
On its website, EthereumMax presents the upcoming NFT Marketplace, claiming that it provides 6% distribution of each transaction to existing eMax wallet holders simply for owning it. However, these claims are supported by vague descriptions without any details on how it works. Since its launch, the token price has fallen by more than 50% after reaching its highest price on May 30. Despite its name, EthereumMax has no connection with the founders of Ethereum and currently claims to have more than 109,000 token holders.
The Thai SEC intends to revoke the operating license for the Huobi crypto exchange
The Thai Securities and Exchange Commission temporarily suspended the services of the local branch of the Houbi crypto exchange and recommended that the Ministry of Finance revoke its operating license. Following the suspension, Huobi was given three months to return all its assets to its clients.
Huobi, which operates under the DSDack brand in Thailand, was ordered to suspend after failing to comply with local regulations regarding its operations and management structure.
According to the Thai SEC, Huobi was first notified of the infringement during an investigation that began in February 2021. Following a reported non-compliance with regulatory requirements set by the authorities, Huobi’s suspension was extended until the end of August 2021 at the request of the exchange.
Head of the British FCA: Crypto promotions need stricter regulation
In his speech, the head of the British FCA said that the promotion of cryptocurrencies required more supervision and that the office needed more powers to ensure investor protection.
The head of the British Financial Conduct Authority issued a statement calling for stricter regulation of platforms promoting cryptocurrencies. FCA chief Charles Randell spoke at an international symposium on economic crime in Cambridge, saying regulators needed more powers to protect investors. This is in line with what Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), said.
The warning focuses primarily on potential fraud and pump and dump schemes that continue to plague the market. He also said that more rules need to be laid down for digital advertising and influencers, which really have some influence in the market.
