Environmental bottom or hopeless rally? – Blockchain news, opinion, TV and jobs

By Marcus Soterio, analyst A publicly listed digital asset broker GlobalBlock

Despite last week’s news regarding the latest inflation data, the crypto market has seen a rally since then. US headline CPI for June was 9.1% year-over-year, which was better than the average forecast of 8.8% and the highest since 1981. The effect of this is to undermine other economic and social security, as the Federal Reserve is forced to become more aggressive. However, Bitcoin has increased by more than 10 since the news and Ethereum has increased by almost 40%. When the market begins to react positively to negative news, this is a sign that a local bottom may be in place as fear causes the news price to sell off.

After the disastrous events in the crypto market in the past few weeks, stricter regulation may be coming soon. The failure of CeFi lenders may be the reason why regulators have been looking to implement draconian controls on cryptocurrencies.

In a recent interview, SEC Chairman Gary Gensler said, “More importantly, the public will benefit from the investor protections we now have around these various service providers, exchanges, lending platforms and brokers. So, we at the SEC, in each of the three areas – exchanges, lending and broker-dealers – and are talking with industry participants about how they can come into compliance or improve some compliance. “

Nikhil Rathi, chief executive of the UK’s Financial Conduct Authority, outlined the FCA’s regulatory goals on Wednesday at the Peterson Institute for International Economics. “The US and the UK will strengthen their relationship on crypto-asset regulation and market developments – including the exploration of stablecoins and central bank digital currencies,” Rathi said. So far, however, much has been done by US and UK regulators to support the growth of the crypto ecosystem, as their delays are pushing crypto-related business out of their economies.

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