Crypto Legislation and Enforcement Highlight a Busy Fall for Financial Regulators; Bitcoin Holds Steady Over $19K | Crypto

Crypto Legislation and Enforcement Highlight a Busy Fall for Financial Regulators; Bitcoin Holds Steady Over $19K

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– Bitcoin held its most recent perch over $19,000, despite the latest hawkish comments from Federal Reserve officials.

– Financial regulators in Asia face a Fall season of crypto reckoning.

– The largest cryptocurrency by market capitalization was recently trading over $19,350, nearly a percentage point higher than where it stood 24 hours ago as investors weighed the latest hawkish comments by U.S. central bank officials.

– Ether, the second largest crypto by market cap and token of the Ethereum blockchain, was recently changing hands above $1,600, up 0.8% from a day earlier.

– Other major altcoins spent much of the day in the green with LINK and SOL recently up more than 8% and 5%, respectively.

– Crypto prices followed a recent trend in tracking stocks, which closed higher on Thursday.

– The tech-heavy Nasdaq, S&P 500, which has a big tech component, and Dow Jones Industrial Average (DJIA) all climbed more than a half-percentage point as markets seemed untroubled by the latest statements from Fed Chair Jerome Powell, who reiterated the bank’s commitment to tame inflation on Thursday at an event organized by the libertarian think tank, the Cato Institute.

– Powell stressed the need for proper regulation of stablecoins if these are to have the properties of money such as clarity, transparency and full reserves.

– In an interview with CoinDesk TV’s First Mover program, Andre Portilho, head of digital assets at Brazilian financial services firm BTG Pactual, also highlighted the need for smart rules.

– Biggest Gainers: Shiba Inu (SHIB), up 0.0%
– Biggest Losers: DACS, down 0.0%

– Korea Financial Intelligence Unit (KoFIU) is targeting 16 crypto exchanges for conducting illegal business activities by operating in Korea without a proper virtual asset service provider (VASP) license.

– The Korea Financial Services Commission (FSC), the parent organization of KoFIU, wants crypto legislation fast-tracked through the countrys National Assembly to give it a post-Terra tool kit to deal with the crypto landscape.

– Thai SEC Secretary-General Ruenvadee Suwanmongkol has been quoted as saying that the commissions mandate is to provide more protection for small investors, some of whom are putting most of their savings into these assets.

– Singapores judicial system is tasked with helping clean up the mess left behind by Three Arrows Capital.

– The Monetary Authority of Singapore is attempting to do a voluntary audit of crypto firms that have a digital payments license to determine how exposed they are to other firms, especially with lending and borrowing.

– The exact details of Singapores new crypto

fd7603bcaeccc5effa98ed22d0c4233c Crypto Legislation and Enforcement Highlight a Busy Fall for Financial Regulators; Bitcoin Holds Steady Over $19K

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