Six out of the top-10 cryptocurrencies were trading higher at 9.30 hours IST. Binance Coin and Solana witnessed profit booking whereas XRP gained 9 per cent.
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Brooks did not respond to requests for further comment. A spokesperson for Binance declined to comment.
The inability to get SEC approval really held back bitcoin and cryptocurrencies in general. It sent the message, says Innes, “that there wasn’t underlying support from Wall Street.” Meanwhile, the price dropped from around $10,000 to $6,000.
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Issuers of tokens that link crypto and traditional markets should function as banks, watchdogs urge
Additionally, crypto regulation outside the U.S. has changed over time, based on evolving regulatory guidelines. The fifth Anti-Money Laundering Directive from the European Union, for example, entails that crypto buying, selling and other operations must comply with certain guidelines in certain regions.
Ultimately, Brooks served as the comptroller less than a year, from May 2020 to January 2021. At the OCC, Brooks established a reputation as a crypto-currency-friendly regulator, earning the nickname "CryptoComptroller."
The billionaire entrepreneur said: “We are concerned about rapidly increasing use of fossil fuel for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”
Jegadeesh, N. and S. Titman (1993), “Returns to buying winners and selling losers: Implications for stock market efficiency”, The Journal of Finance 48 (1), 65–91.
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