Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), explained how securities laws apply to crypto tokens when listing the commission's priorities for regulating the crypto space. ”Our role at the SEC is to ensure that the public still gets basic protection," he said.
Fed Chair Powell: CBDC and Stablecoins Can Coexist
Federal Reserve Chairman Jerome Powell appears to have changed his mind regarding his previous statements about the relationship between CBDCs and stablecoins. Testifying before the US Congress, he suggested that both can coexist decisively without the former replacing the latter.
Cash App Is Bringing Bitcoin Lightning Network to its 36 million Users
As a sign of increasing adoption, Cash App is preparing to offer its users access to the Lightning Network. Moreover, with the fact that the Cash App has been steadily increasing the number of active monthly users since 2016, it will greatly benefit the use of Bitcoin. The Cash App is currently only available to US and UK users.
IMF Economists Warn Against the Risk of 'Contagion' in the Increasingly Bitcoin and Stock Markets Connected
Several IMF economists claim that the relationship between stocks and cryptocurrencies such as Bitcoin could soon 'pose a risk to financial stability.'
Majority of JPMorgan Customers Are Bullish on Bitcoin
The majority of customers surveyed by the US banking giant JPMorgan Chase believe that Bitcoin will close in 2022 above $60,000. Only 2% of respondents believe that Bitcoin will trade below $10,000 by 2023.
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