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New York Department of Financial Services Issues New Standards for Virtual Currency Listings and Delistings

Introduction The New York Department of Financial Services (NYDFS) has recently released new regulations regarding virtual currency (coin) listings and delistings. These regulations apply to Bitlicensees and limited-purpose trust companies and include various business model considerations, risk assessment expectations, and advance notification requirements. VCE Coin-Listing Policies Under the latest guidance, virtual currency entities (VCEs) with

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Bitcoin Technical Analysis: BTC Price Reflects Market Equilibrium and Consolidation

Bitcoin's current price is situated within a 24-hour range of $43,412 to $44,243, reflecting short-term volatility. The leading cryptocurrency has seen a 1.1% decrease over the past day, though it maintains a 2% increase over the week and an impressive 19.6% rise over the last 30 days. Presently, technical indicators provide insights into Bitcoin's market

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Defi Witnesses Dramatic Recovery as TVL and Token Valuations Soar in 2023

Introduction In April 2022, decentralized finance (defi) protocols held approximately $163 billion total value locked (TVL). However, by January 2023, this amount had declined to $38.30 billion. Despite this initial setback, both TVL and the market valuation of the leading defi tokens have shown significant growth over the past year. Growth in TVL As 2023

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SEC Chair Warns of Crypto Non-Compliance as Blackrock Plans BTC ETF Seed

SEC Chairman Gary Gensler Highlights Crypto Non-Compliance The U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has issued warnings regarding cryptocurrency investments. He emphasized the prevalence of non-compliance in the crypto space, which undermines confidence and leaves many investors with no choice but to file for bankruptcy. Gensler's concerns arise as the market anticipates

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The Future of Tether and Centralized Stablecoins: Arthur Hayes’ Warning

Arthur Hayes Predicts Banks Will Replace Tether and Other Stablecoin Companies Arthur Hayes, the former CEO of Bitmex and current CIO of Malestrom, a crypto-focused early-stage investment fund, has raised concerns about the future of Tether and other stablecoin companies. According to Hayes, big banks like JPMorgan will eventually cannibalize Tether's business model and dominate

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SEC Expected to Make Decision on Spot Bitcoin ETFs Approval

Anticipation Builds for First-Ever U.S. Spot Bitcoin ETFs The U.S. Securities and Exchange Commission (SEC) is set to decide on the approval of spot bitcoin exchange-traded funds (ETFs) as early as Tuesday or Wednesday, according to a recent report. This news has generated significant buzz among market participants, as prominent asset management firms have updated

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The Long-Term Impact of Spot Bitcoin ETFs and Comparison to Gold

Introduction Vaneck's Director of Digital Assets Strategy, Gabor Gurbacs, has shed light on the underestimation of the long-term impact of spot Bitcoin exchange-traded funds (ETFs). He believes that once the U.S. Securities and Exchange Commission (SEC) approves a spot Bitcoin ETF, Bitcoin's price trajectory could emulate the growth pattern of gold from 2004 onwards, but

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Bitcoin Technical Analysis: BTC 15th Anniversary Celebrations Marred by Market Mayhem

Bitcoin Price Fluctuations and Market Sentiment In the wake of bitcoin's 15th anniversary, the cryptocurrency behemoth confronts a challenging market terrain, as its price dipped 6.7% to prices between $42,350 to $42,619 amidst swirling rumors of spot bitcoin exchange-traded fund (ETF) rejections. The past day saw bitcoin's price range fluctuate between $41,804 and $45,813 with

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ETH Slides Over 8% Amid Downward Market Pressure: Ethereum Technical Analysis

In the ever-volatile world of cryptocurrency assets, ethereum has experienced a significant decline, with its price dropping by 8.1% in the past 24 hours. Technical indicators and chart patterns indicate a bearish sentiment, urging traders to proceed with caution. Ethereum Price and Market Capitalization The price of ethereum (ETH) currently hovers between $2,056 to $2,255,

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