Like most things with cryptocurrency, regulation comes with hurdles. “There are different agencies that may or may not have jurisdiction to oversee everything,” says Wang. “And it differs state by state.”
Stratford Strategies, LLC Formerly Known As Cb Anderson Partners, LLC: City Of Santa Monica, Ca Caitlin Oprysko covers lobbying for POLITICO and writes the Influence newsletter. She was previously a breaking news reporter for POLITICO, covering the 2018 midterms, 2020 election and everything (seriously) in between. She joined POLITICO Pro in 2016 as a web producer and also worked on Pro’s Legislative Compass team, covering an omnibus spending bill, the farm bill and several appropriations bills from their introduction to the president’s desk.
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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.
After that, five percent of the tax is then allocated to people who still own SafeMoon currency. This is to prevent the price from dropping as people start selling the token.
For every transaction carried out on the blockchain, 4JNET will withhold 90% of the transaction amount. This will be the service charge. This way, 4JNET can maintain stable prices for the token. Then 6% will be distributed to all token holders, while the remainder will be transferred into a 4JNET liquidity pool.
“We do it in the equity market, we do it in the bond markets, people might want it here,” Gensler said at the Aspen Security Forum over the summer.
Then 5% goes to buying back and burning tokens to reduce circulation and increase demand for the token. The buyback and burning process is automated. With every transaction, 5% of the 12% fee goes to the Buyback smart contract, which automatically buys tokens from the liquidity pool and burns them. Therefore, Safemoon members would also want to invest in a coin whose supply is diminishing hence a consistent increase in the price of the coin.
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All the signs, however, were there. Like previous bubbles, people were basing their belief in the cryptocurrency on their emotions, not any intrinsic value. Then there was the FOMO element, which only compounded things. Essentially, bitcoin became an international fever. Random companies were “pivoting to blockchain” for no apparent reason other than that it seemed like a way to create buzz. But when the bubble bursts, FOMO turns into fear of losing, which makes for an especially rapid plunge.
Explaining the digital assets designed to limit volatility but attracting regulators’ attention Previous page You are on page 1 Next page
Investors that may have once dismissed it, ought now to consider taking part in it
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US futures linger at all-time highs while cryptos hit new records, as Fed rings alarm on market risks
Dogecoin, which was initially set up as a joke in 2012 before seeing its shares skyrocket, has also dropped while Solana has seen its market price rise by more than 8%.
Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything you’re not OK with losing.
Fig 7. Visualisation of the average wavelet coherence values for bubble (solid) and non-bubble (dashed) regimes decomposed by period band.