Which DOGE? Musk’s Cryptic Post Explodes Confusion Coinpaper
Source link ]]>
Scammers use DOGE-Dogecoin confusion to prey on victims NBC Boston
Source link ]]>
The first reports said the SEC gave the green light but did not say “ETF”. This made people wonder if it was really an approval for a Bitcoin exchange-traded fund.
News recently broke that the Securities and Exchange Commission (SEC) had allegedly approved listing the Bitcoin (BTC) futures fund from Hashdex and Teucrium. However, confusion quickly came up about what exactly happened.
The proposed fund would let people invest in Bitcoin’s price changes and long-term growth without actually owning the crypto coins. This could be an easier way for some investors to potentially profit as BTC keeps increasing in price and advancing with new technology. It will also present an opportunity for many traditional investors to have crypto exposure in a less risky and well-regulated environment.
Confusions Around the Alledged Approval of Hashdex and Teucrium Bitcoin Futures Fund
The first reports said the SEC gave the green light but did not say “ETF”. This made people wonder if it was really an approval for a Bitcoin exchange-traded fund. Crypto analyst James Seyfart thinks the news just means Hashdex is switching from being listed by Teucrium to being listed by Tidal’s trust.
An update came from The Block, who originally shared the news. They now say the development had nothing to do with an ETF getting approved like they first reported. The SEC notice actually just let Hashdex update some details about how its fund works. Expert Scott Johnsson also said this does not change plans for a “hybrid ETF.” That kind of ETF would be very meaningful for Bitcoin.
While being able to invest in Bitcoin futures could still be good for some, this story shows how fast crypto news spreads without all the facts. The truth came out: there was no ETF approval, as people assumed at first. It shows the need for accuracy and taking time to confirm facts in the fast-paced crypto world.
All Eyes on the January Bitcoin ETF Deadline
The cryptocurrency community is intently focused on January 2024 as a pivotal timeline for potential Bitcoin exchange-traded funds (ETFs) in the United States. This month marks the deadline for the SEC to provide responses on several outstanding spot Bitcoin ETF applications or extensions. One major reason this date carries such significance is that it represents the deadline for the SEC to approve or reject flagship ETF applications, such as the one filed by ARK Invest for a 21Shares Bitcoin ETF. The regulators’ impending decision is eagerly anticipated across the crypto sector.
#BITCOIN ETF COUNTDOWN
LESS THAN 24 DAYS LEFT FOR #BITCOIN ETF APPROVAL.
ARE YOU GUYS READY?? pic.twitter.com/plTrEQXRGC
— BITCOINLFG® (@bitcoinlfgo) December 13, 2023
Additionally, experts have noted a rising sense of optimism from the SEC in recent months, indicating the first US Bitcoin ETF could be greenlit in the near future. Advanced discussions between the SEC and major ETF providers, just like the recent update required from Hashdex, further point to a greater chance of acceptance of bitcoin financial instruments by the regulatory body.
Cardano DEX MuesliSwap to refund users after slippage confusion Cointelegraph
Source link ]]>
]]>
Heavy selling was witnessed on Indian crypto exchanges earlier today as reports about India banning private cryptocurrencies emerged. The Indian government is currently preparing to the table ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ next week on November 29.
However, some local media houses reporting that government will ban private cryptocurrencies has triggered an overnight pain selling. Prices of Bitcoin (BTC) and several other top altcoins tanked more than 20% in an overnight crash on exchanges like WazirX. But it seemed to have little impact on the global market as the crypto price on Coinmarketcap remained relatively stable.
The market sell-off has cooled down a bit though after sources familiar with the matter told local news publication News18 that the regulation won’t be an outright ban. The sources said:
“A regulation mechanism will be in place so that crypto is not misused. The government is concerned about the underground transactions happening against cryptocurrency — particularly its role in ‘hawala’ and terror funding”.
The sources also said that digital assets won’t be recognized as currencies. “A strict mechanism will be in place so that law enforcement agencies can trace the origin of cryptocurrency used for illegal or anti-national work,” they added.
India’s Flip-Flop With Crypto Laws
So far, the Indian government has stayed uncertain with the acceptance of digital assets in the country’s legal financial system. However, Prime Minister Narendra Modi recently assured that the government will take a nuanced approach with digital assets.
The Indian government is keen on recognizing cryptocurrencies as an asset class but won’t allow them as a medium of payments or settlements.
Today’s panic selling comes over the use of private cryptocurrencies. It is important to note that Bitcoin, Ethereum and most of the other digital assets rely on a public ledger offering enough transparency of transactions happening on its blockchain network. However, digital assets like Monero (XMR), which offer users a greater level of privacy won’t be accepted.
The dust of panic selling is selling is likely to settle as the government puts more clarity during its upcoming Winter Session in parliament.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
