Local Bottom or Hopeless Relief Rally? – Blockchain News, Opinion, TV and Jobs

Analyst Marcus Sotirio With a listed digital asset broker GlobalBlock

Despite last week’s news on the latest inflation data, the crypto market has seen a recovery in bailouts ever since. The US headline CPI for June was 9.1% year-on-year, well above the median of 8.8%, the highest since 1981. This is another blow to economic and social well-being as the Federal Reserve. Reserves are forced to be more aggressive. But Bitcoin has risen by more than 10% since News and Ethereum rose by almost 40%. When the market began to react positively to negative news, this indicates that fear may have caused news pricing, so for now it may be at the bottom of the locals. increase.

Tight regulations can arrive soon after the catastrophic events unfolding in the crypto market over the past few weeks. The collapse of CeFi lenders may be the reason regulators were looking to implement strict controls on cryptocurrencies.

In a recent interview, SEC Chairman Gary Gensler said: As a result, the SEC works in each of the three areas of exchanges, lending and broker-dealers, discussing how to comply with compliance and how to change some of its compliance with industry participants. “”

Nikhil Rathi, Chief Executive Officer of the Financial Conduct Authority of the United Kingdom, outlined the FCA’s regulatory objectives at the Peterson Institute for International Economics on Wednesday. “The United States and the United Kingdom will deepen their relationship with crypto asset regulation and market development, including those related to Stablecoin and the central bank’s quest for digital currencies,” Lati said. But so far, little has been done to support the growth of the crypto ecosystem from US and UK regulators. Because their delays keep crypto businesses away from their economy.

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