Author: Fox Business
The Virginia Senate unanimously passed a groundbreaking cryptocurrency banking bill this week, which already passed the state’s House of Delegates and which legislators expect Gov. Glenn Youngkin, a Republican, to sign within seven days. H.B. 263 “permits banks in the Commonwealth to provide virtual currency custody services so long as the bank has adequate protocols in place to effectively manage the associated risks.” Del. Chris Head, R-Roanoake, the bill’s sponsor and a candidate for state Senate, told Fox News Digital that Texas regulation gave him the idea for the bill. “I came up with the idea for HB 263 last summer after reading…
US government could ‘very realistically’ attempt to punish protesters as the Canadian government is doing, the expert warned A cryptocurrency expert is sounding the alarm on how the Canadian government is freezing the crypto wallets of Freedom Convoy protesters and said that it’s something that can “very realistically” happen in the United States. In an effort to take action against participants of the Freedom Convoy protests in Canada, Prime Minister Justin Trudeau invoked the Emergencies Act on Monday, giving the government power to clear protests by towing vehicles and even more direct measures like freezing personal bank accounts. Deputy Prime…
Bitcoin was trading back around $43,000 Friday morning, after having jumped above $45,000 during the day Thursday. The cryptocurrency has been behaving much like the stock market, reacting to inflation figures and concerns about higher interest rates. Bitcoin heads into Friday having snapped a three-day winning streak. Bitcoin is up more than 13% month-to-date, but down more than 5% year-to-date. Bitcoin reacted to the Wall Street retreat Thursday on news that U.S. inflation jumped 7.5% in January, raising expectations the Federal Reserve will need to move forcefully to cool the economy by raising interest rates. St. Louis Federal Reserve President James Bullard…
Bitcoin was poised to add to gains for a second straight day, trading above $44,000. Heading into Thursday, bitcoin was up six of the past seven days. The cryptocurrency is up more than 15% this month, but down almost 4% year-to-date. Regulators are working to come up with their first global framework of rules pertaining to cryptocurrencies. That framework could be just months away, a senior official told Reuters on Wednesday. The Financial Stability Board, which gathers together regulators, central banks and finance ministry officials from the G20 economies, is examining what needs to be done with cryptoassets such as bitcoin…
Bitcoin exchange-traded funds filed with the Securities and Exchange Commission have mostly been dead in the water, but there may be hope for one. Rather than rejecting outright the Bitwise Bitcoin ETP Trust, the SEC has designed a longer review time, announced last week, asking for more specifics on how manipulation could be prevented. The investment firm, in a statement to FOX Business, said it will keep pushing to win approval. “Bitwise remains committed to continuing to engage with the SEC on the pathway to launching a Bitcoin ETF. We appreciate the directed questions articulated by the SEC as we continue the dialogue on…
Bitcoin was struggling early Monday morning following a downtrend last week with blame clearly landing on Fed plans to raise interest rates in March. The cryptocurrency was trading just above $37,200 (-2.23%) overnight. Rivals Ethereum and Dogecoin were also down, with Ethereum trading at $2,530 (-2.96%) and Dogecoin trading at 13.7 cents, down 3.83%, Coindesk reported. Bitcoin’s monthly moving average convergence divergence (MACD) histogram has crossed below zero, a so-called “sell signal,” Coindesk reported, indicating a bullish-to-bearish trend change on the longer duration price chart. Bitcoin was struggling early Monday morning following a downtrend last week with blame clearly landing…