The SEC is adopting rules for including certain significant market participants among “dealers” or “government securities dealers.”
Liquidity providers in DEXs with assets over $50 million must register with the SEC. Even DEXs are now under control…
Growth drivers will be the U.S. elections, the softening of the Fed’s DCP + QE, and institutional interest:
“Supported by the macroeconomic situation, favorable monetary factors, the U.S. election cycle, and gradually increasing demand from TradFi investors putting money into Bitcoin ETFs, a rally to $70,000 seems quite plausible.”
Vast Bank Cancels Crypto Services 🔚
Vast Bank – the first bank in the U.S. allowing customers to store cryptocurrency alongside a traditional checking account.
The bank announced its intentions to exit the crypto industry by closing its crypto-banking application.
Indian Government Against Binance Operating in the Country 🇮🇳
The crypto exchange is willing to pay taxes and fines but does not want to comply with the “Prevention of Money Laundering Act (PMLA).”
About 4,000 Indian traders trade on Binance using VPNs. Their wallets hold over $4 billion in cryptocurrency.
“Crypto Industry – A Potential Danger to the Financial System” – U.S. Treasury Secretary J. Yellen.
The Financial Stability Oversight Council (FSOC) is particularly wary of stablecoins but is also concerned about volatility in crypto markets and the operation of crypto exchanges.
Yellen will continue working with Congress to create a regulatory framework for cryptocurrency.