WASHINGTON (AP) — The Biden administration is calling on Congress to pass legislation that would strengthen government regulation of stablecoins, a form of cryptocurrency that has soared in popularity in the past year.
WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.
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New Delhi: Major cryptocurrencies continued to gain following a rally in the weekend. However, investors booked profits in a couple of altcoins.
Some mainstream companies also view blockchain technology itself with interest, evaluating various uses such as supply chain. The future of cryptocurrency and its associated technology appears bright, judging by the growth and adoption that has been seen since 2008 when Nakamoto published the framework for a little asset called Bitcoin.
Going forward, it's impossible to know for sure how the value will change and whether it could rise further.
In this eventuality, BTC could drop toward the 100 or 200 four-hour moving average. These demand zones sit at $59,000 and $52,000 respectively.
Our Safemoon prediction for 2025 states that the coin could be valued at around $0.000025 if the developers can improve its current usability.
“What differentiates SafeMoon is that they’re putting this out there in the open for everyone to see, and are not trying to hide the fact that’s how the system works,” he said.
The demand for a cryptocurrency depends on many factors. Demand will be increased based on how useful it is to own the coins. This means if the crypto monetary system works well (i.e. fast transactions and low fees), if smart contracts become more commonplace, and if more businesses start to accept crypto, the demand for crypto will increase. Additionally, there is an increased demand for cryptocurrencies as a store of value investment.
China announced in September that all cryptocurrency transactions in the country are illegal, effectively putting the brakes on any crypto-related activities within Chinese borders. In the U.S., things are less clear. Federal Reserve Chair Jerome Powell said recently that he has “no intention” of banning cryptocurrency in the U.S while Security and Exchange Commission Chairman Gary Gensler has consistently commented on both his own agency’s and the Commodity Futures Trading Commission’s role in policing the industry.
Mr Karkhalev added: "The growth in the capitalisation of the Bitcoin crypto market has also aided confidence.
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But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
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Electric car maker Tesla will stop accepting Bitcoin as a payment, CEO Elon Musk tweeted on Wednesday, citing environmental concerns.
Although cryptocurrencies like Bitcoin are virtual currencies, they are treated as an asset for capital gains tax purposes, and “ordinary” investors who purchase Bitcoin as an investment will experience a capital gain or loss when they exchange it for traditional currency, products, or services.
— Mary Elizabeth Gately is representing the king at a rate of $1,335 per hour, according to a copy of the contract submitted to the department that was dated Sept. 20 and signed on Sept. 29, days before the consortium published a series of reports on Sunday. The king was just one of hundreds of global elites whose financial secrets were included in the Pandora Papers, the consortium’s latest trove of documents, though his attorneys denied to the ICIJ that he had done anything improper by purchasing the homes through offshore companies.