Subscribe To Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022
    Facebook Twitter Pinterest LinkedIn
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Bitcoin
    • NewsWire
      1. Latest News
      2. Top Stories
      3. Features
      4. What’s Hot
      5. Must Read
      6. Trending
      7. Spotlight
      8. Editors’ Picks
      9. View All

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      El Salvador’s Companies Barely Bother With Bitcoin

      March 19, 2022

      New Jersey legislation aims to prevent public officials from being gifted NFTs

      March 18, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Crypto’s Preferred Currency for Political Donations Isn’t Bitcoin. It’s Dollars

      March 19, 2022

      Meta Sued by Australian Watchdog Over Scam Crypto Advertisements

      March 18, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022

      Wall Street Reluctantly Embraces Crypto

      May 1, 2022

      Warren bill draws outcry over broad terms, but seems unlikely to pass

      March 20, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Russia-Ukraine War Is Bringing Out the Good, Bad, & Ugly of Cryptocurrencies

      March 18, 2022

      The ‘world’s most advanced’ digital human wants you to buy her NFT art

      March 15, 2022

      FTX crypto exchange wins license in Dubai to open regional headquarters

      March 15, 2022

      Crypto Startup Founded by Ex-Meta Employees Raises $200 Million

      March 16, 2022

      U.K. Crime Agency Wants to Regulate Crypto Transaction Mixers

      March 15, 2022

      A Wall Street Quant Turns His Crypto Firm Into a Unicorn

      March 14, 2022

      Standard Chartered’s crypto custodian to help clients earn yield on token holdings

      March 14, 2022

      Man passing as UN affiliate convicted for crypto scheme

      March 18, 2022

      The Future of Crypto Is Boring — and Bright

      March 15, 2022

      Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates

      March 15, 2022

      Binance Wins Crypto Licenses From Dubai, Bahrain

      March 15, 2022

      Why Bitcoin’s Environmental Problems Are So Hard to Fix

      March 16, 2022

      Americans Want Crypto From Their Banks

      March 15, 2022

      Why Decentralized Exchanges Are Important in the Crypto Economy

      March 10, 2022

      Binance plots M&A spree as regulators scrutinize crypto trading unit

      March 10, 2022

      Amid New Executive Order, White House Director Sheds Light On Crypto Policy

      March 16, 2022

      Bitcoin Evangelist Saylor Tells Economists Why They’re Wrong

      March 15, 2022

      Crypto Mania in Texas Risks New Costs and Strains on Shaky Grid

      March 15, 2022

      Bitcoin’s scared of commitment, Mr. Biden

      March 15, 2022

      Coinbase Fixing Problem That Halted Payments From US Banks

      October 9, 2022

      Binance May Spend Over $1 Billion This Year on Deals, CZ Says

      October 9, 2022

      Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

      May 1, 2022

      Two Senators propose crypto legislation for tax exemption on capital gains

      May 1, 2022
    • Altcoins
      • Ethereum
      • XRP-Ripple
      • Solana
      • Dogecoin
      • Cardano
      • Shiba Inu
    • Topics
      • Cryptocurrencies
      • Investments
      • Markets
      • NFTs
      • DeFi
      • ETFs
      • DAOs
      • Crypto Regulation
      • Metaverse
      • Blockchain & Web3
      • Blockchain Gaming
      • Crypto Exchanges
      • Crypto Mining
      • Stablecoins
      • Cybersecurity
      • Digital Currencies – CBDC
      • Crypto Book Reviews
      • Technology
      • Internet of Things
    • Opinions
    • Explainers
    • Press Releases

      Former Uber LatAm Head of Policy Leads Crypto Ride-Hailer Drife Toward Planned Global Expansion

      March 7, 2022

      European index provider for crypto assets Vinter raises $3.4m funding

      February 22, 2022

      PR – British crypto processor brings in $60 million for expansion in Europe

      January 25, 2022

      PR – CoinMENA obtains 2nd crypt0 license from European Union

      January 25, 2022

      NFT investment specialist looks to acquire Pluto Digital for £96m

      January 24, 2022
    RareHippo – Crypto, Bitcoin, Blockchain News & Views
    Home»Adoption News»Bitcoin’s scared of commitment, Mr. Biden
    Adoption News

    Bitcoin’s scared of commitment, Mr. Biden

    By Medha Singh
    March 15, 2022By Reuters4 Mins ReadNo Comments
    Facebook Twitter LinkedIn Pinterest Reddit WhatsApp Email Tumblr VKontakte Telegram
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email LinkedIn Tumblr Telegram

    Bitcoin loves flirting with the mainstream. But now, as the U.S. president says he wants to get serious, it may be getting cold crypto feet.

    When Joe Biden ordered officials to prepare reports on the role of cryptocurrencies in future finance last Wednesday, bitcoin leapt as much as 9% and ether 8%, as many crypto fans hailed a potential milestone in mainstream acceptance.

    Donate to RareHippo Now!

    “The real importance of it is that the president of the United States is talking about crypto,” said Jack McDonald, CEO of Standard Custody, a firm handling digital asset custody solutions for institutional investors.

    Yet cryptocurrencies are complicated.

    While bitcoin danced above $42,500 following the news, it has since given up those gains and is now back at around $38,000. Similarly ether has slunk back down to straddle $2,500.

    That seems a muted market reaction to the White House’s first formal pronouncement on crypto – though who can truly understand bitcoin, still licking its wounds from China’s rejection and nursing nagging disquiet it’s losing its identity.

    Regulation can be a double-edged sword.

    Some industry watchers see bullish signs for bitcoin, saying the presidential announcement could presage U.S. regulations on crypto that will draw far more institutional money from the likes of pension funds and insurance firms.

    “Biden’s executive order could signal the end to the wild west of crypto as we know it,” said Edmund Kulakowski, senior financial crime consultant at London-based regulatory software company Fenergo.

    Yet it may not be such good news for those crypto players that thrive in the wild.

    “Quant-driven hedge funds running arbitrage and quant strategies typically shine in more volatile and unstructured markets,” said Ganesh Iyer, chief marketing and strategy officer at New York-based technology company IPC.

    “Only time will tell how and when this market will mature. Until that point there is an opportunity now for hedge funds to utilize ultra-low latency networks to make the most of volatile, compliance-light and liquid crypto markets.”

    WHO’S THE SHERIFF?

    There’s also little certainty over America’s regulatory intentions, with Biden having given federal agencies six months to produce guidance on how best to proceed.

    For one thing, it’s not clear who’s going to be the crypto sheriff, or for that matter whether crypto should be treated as a security or commodity.

    Both the Securities and Exchange Commission (SEC), which oversees listed stocks and therefore tokens that are deemed to be securities, and the Commodity Futures Trading Commission (CFTC) which has oversight of commodity and derivatives markets, are among those required to give their input into the reports.

    “Specifics related to the SEC, CFTC and other financial regulators are light,” said Jerald David, president of Arca Labs, the innovation arm of Los Angeles-based digital asset manager Arca.

    Shane Rodgers, a former investment banker and CEO of PDX Coin, a crypto-to-fiat payments app and utility coin, said he was waiting to see how the regulation might shape up, particularly in terms of defining the role of the SEC.

    Until there is more visibility, he added, “the government can forget innovation in the crypto space in the U.S. because I, for one, will not be hiring any people or spending large amounts of R&D money in this country”.

    AMERICA’S CRYPTO POWER

    Crypto news & Views

    What seems certain, regardless of how this plays out, is that U.S. action will have a major impact on the global crypto industry.

    America, the epicentre of traditional finance, is fast becoming the same for crypto; 43% of the world’s crypto hedge fund managers are now based there, according to PwC, while the United States is now also the centre for bitcoin mining after China’s crackdown on that part of the industry last year.

    McDonald at Standard Custody described Biden’s order as a “symbolic document”.

    “He did not come out and say it’s fraud or bad actors doing bad things,” he added. “Quite the contrary, there is an admission that digital assets have a place in the future, that this industry requires a thoughtful approach to regulation.”

    Read full story on Reuters

    Adoption News Bitcoin Crypto Regulation
    Previous ArticleCoal to crypto: The gold rush bringing bitcoin miners to Kentucky
    Next Article Investors turn to crypto funds, companies as Russia-Ukraine crisis escalates

    Related Posts

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 20221 Min Read

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 20223 Mins Read

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 20224 Mins Read

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 20225 Mins Read

    Wall Street Reluctantly Embraces Crypto

    May 1, 20225 Mins Read

    Warren bill draws outcry over broad terms, but seems unlikely to pass

    March 20, 20225 Mins Read
    Add A Comment

    Leave A Reply Cancel Reply

    Donate to RareHippo Now!
    Latest News

    Coinbase Fixing Problem That Halted Payments From US Banks

    October 9, 2022

    Binance May Spend Over $1 Billion This Year on Deals, CZ Says

    October 9, 2022

    Crypto Real Estate Is Here – Bitcoin Mortgages Are Just The Beginning

    May 1, 2022

    Two Senators propose crypto legislation for tax exemption on capital gains

    May 1, 2022

    Wall Street Reluctantly Embraces Crypto

    May 1, 2022
    Follow US & Win Prizes
    • Facebook
    • Twitter
    • LinkedIn
    • Pinterest
    Don't Miss
    Blockchain Gaming

    Loot Project Pursues Quiet Quest in NFT Gaming Following Splashy Debut

    December 3, 202110 Mins Read

    Is the Loot Project going to have a trajectory somewhat like Ethereum circa 2018? There…

    Shiba Inu Hits Another Milestone, but Worries Remain

    January 29, 2022

    Shock to Crypto Daredevils Joins List of Scary Market Omens

    December 6, 2021

    TV reporter and her friend scammed out of thousands in crypto social media hack

    December 31, 2021

    Subscribe to Our Newsletter

    Get the latest crypto news right into your email box. No spamming. We hate it too. Only pertinent news you need to know

    Crypto news & Views
    Facebook Twitter Pinterest LinkedIn
    • Home
    • Privacy Policy
    • About Us
    • Donate to RareHippo
    • Get In Touch
    • NewsWire
    © 2023 RareHippo. Powered by 8 Dimensions

    The content of this website is for informational purposes only and is not intended as a substitute for investment or financial advice.

    Type above and press Enter to search. Press Esc to cancel.