US Assistant Secretary of the Treasury "Research on digital dollar privacy guarantee measures"

According to CoinDesk, U.S. Assistant Secretary of the Treasury Graham Steele said, “The U.S. has not yet decided whether to pursue a CBDC. We are aligned, but we are also wary of the risks of CBDC.” “When designing a retail CBDC, you should actively explore the application of technologies such as privacy-enhancing technology (PET) that enables privacy and anonymity protection. These technologies maintain transaction privacy while providing transparency and traceability. “However, there are also potential risks of retail CBDCs. The recent turmoil in the US banking sector has shown that the technology that enables deposit movement is getting faster. This magnifies various risks.

#CBDC #U.S. #PET #Binance #BNB

#U.S. President #Joe Biden Vetoes Resolution to Repeal SEC's Staff Accounting Bulletin 121: What This Means for Cryptocurrency Regulation*

In a move that could have far-reaching implications for the cryptocurrency market, President Joe Biden has vetoed a House Joint Resolution that sought to repeal Staff Accounting Bulletin 121 (SAB 121) of the U.S. Securities and Exchange Commission (SEC). This decision comes as the Biden administration continues to take a tough stance on cryptocurrency regulation, leaving many to wonder what's next for Bitcoin, altcoins, and the cryptocurrency market as a whole.

*What is SAB 121?*

Staff Accounting Bulletin 121 (SAB 121) is a guidance issued by the SEC in 2021 that requires publicly traded companies to disclose their digital assets and cryptocurrencies as liabilities on their balance sheets. This guidance has been controversial in the cryptocurrency space, with many arguing that it unfairly targets digital assets and fails to recognize their potential as assets.

*Implications for Bitcoin and Altcoins*

President Biden's veto means that SAB 121 will remain in effect, potentially leading to increased regulatory scrutiny for publicly traded companies that hold digital assets. This could have a ripple effect on the cryptocurrency market as a whole, potentially impacting the prices of Bitcoin and altcoins. In fact, the cryptocurrency market has already begun to react, with Bitcoin and altcoins experiencing a slight downturn in value following the news.

*Market Reaction*

- Bitcoin (BTC) price drops 3.5% in response to news
- Altcoins follow suit, with Ethereum (ETH) and Litecoin (LTC) experiencing similar declines
- Cryptocurrency market capitalization falls by $10 billion in a matter of hours

*What's Next?*

The veto is a clear indication that the Biden administration is taking a tough stance on cryptocurrency regulation. As the SEC continues to ramp up its enforcement efforts, publicly traded companies holding digital assets will need to ensure compliance with SAB 121.
#USDTfree $USTC #Biden #NewsAboutCrypto

🇺🇸 U.S. ETFs bought 40,860 Bitcoin ($2.6B) in July so far. 💎

Adviser investments are just starting 👀

We're still at the beginning ✌️

#BTC☀ #ETFvsBTC #U.S. #ETFs✅

The #U.S. SEC has delayed a decision on BlackRock and Fidelity’s proposal for a spot ethereum ETF and is seeking public feedback. The SEC is concerned about whether Ethereum’s proof-of-stake mechanism is vulnerable to fraud and manipulation.

##Market_Update

The cryptocurrency market is experiencing downtrends due to several key factors. Firstly, macroeconomic uncertainties, such as rising inflation and interest rates, are leading investors to move away from riskier assets like cryptocurrencies. Secondly, regulatory crackdowns in major markets like the #U.S. and #China are creating an environment of uncertainty, dampening investor confidence. Thirdly, large-scale liquidations and profit-taking by institutional investors are contributing to downward pressure. On the technical side, many cryptocurrencies have broken below key support levels, leading to increased selling. Moving averages (MAs) across multiple time frames are showing bearish crossovers, confirming the downward momentum. The Relative Strength Index (RSI) indicates oversold conditions but hasn't triggered significant buying interest. Additionally, lower trading volumes reflect reduced market participation, exacerbating price declines. Overall, a combination of macroeconomic pressures, regulatory issues, and negative technical indicators are driving the current bearish trends in the cryptocurrency market.
#Marketsentimentstoday #altcoins

👉👉👉 #FederalReserve Forecasts "AI Will Be Deflationary" To Boost Economy

Using AI to Boost the #U.S. Economy

During the recent Federal Open Market Committee (FOMC) meeting, policymakers discussed several factors that could lead to future disinflation. Initially, they considered elements such as the continued easing of demand-supply pressures in product and labor markets, the lagged effects on wages and prices from previous monetary policy tightening, delayed responses of measured shelter prices to rental market developments, and the prospect of additional supply-side improvements.

However, they also identified Artificial Intelligence (AI)-related technology as a potential driver in mitigating inflation. The application of AI could significantly boost productivity in businesses and, consequently, the economy. The #fomc participants noted that longer-term inflation expectations have remained well anchored, which is seen as a crucial component in the disinflation process. They emphasized the need for additional favorable data to ensure confidence that inflation will sustainably trend toward the 2% target.

The Appeal to Several Governments

Highlighting AI as a factor in the search for disinflation is a significant endorsement for this emerging technology. It suggests that AI is gradually gaining traction across various sectors and borders. The U.S. government may eventually prioritize this sector, especially as it has been working to regulate AI within the country.

In December 2023, the #Biden administration launched an initiative to establish critical standards for the safe, secure, and trustworthy deployment of AI in the U.S. Biden’s executive order on AI aligns with the European Union's regulatory efforts.

In Europe, the Council's Intergovernmental Steering Committee on Media and the Information Society (CDMSI) has established guidelines for responsible AI use in journalism, upholding human rights, democracy, and the rule of law.

#BinanceSquareTalks

Source - coingape.com

#U.S. Crypto Regulations Are Moving Against a CBDC and Non-Compliant Stablecoins Like Tether: JPMorgan
Out of four recent crypto regulatory initiatives, the stablecoin bill has the highest chance of being passed before the U.S. presidential election, the report said.
#Metaverse
#BTC

#lunaclasic Scammers team scammed the money from the traders all around the world and they ll pay fine (that is actually bribe )as settlement to U s waoo ImS securities is enjoying free (bribe) money of scamers.
They both are scamers.
#U.S. fines (is bribed ) and claps to collect free money as already they did with #cz判罚 ,
This thing ll help to increase the scam rate in crypto market like you ll do 1000 billion scam and have to give 10% to the scamers helper of U.S Securities and your money ll be white 😂.

(Terraform Labs agreed to pay $4.47 billion in fines after reaching a settlement with the U.S. Securities and Exchange Commission over its algorithmic stablecoin that fell dramatically in 2022)

I am one who lost $47k in $LUNC and in #Ustc Scam.
who ll refund to the traders.?? (These scamers and bribers or bribe takers??)

There should be a court for traders as well as
these scamers collecting money from our pocket and enjoying it on @Wars
Its all seems Ridiculous.

Thats why (U.S Securities) they ll never ever let the crypto be an asset like Gold, Or fiat.
$BTC $ETH #BTC☀

🔥🔥🔥 #bitcoin☀️ Bloodshed: Crypto Liquidations Top $200 Million as #Ethereum , $BTC Fall

Crypto Market Sees Surge in Liquidations as Bitcoin Falls Below $60,000

On Wednesday, the cryptomarket experienced its highest spike in liquidations over the past week as Bitcoin's price dropped below $60,000. According to CoinGlass, more than 74,000 traders were liquidated, totaling $208 million.

Most of the liquidations, amounting to $184 million, affected investors who had bet on rising prices through long positions. Ethereum investors bore the brunt of these liquidations, with losses reaching $55.5 million, nearly all from long positions.

The ongoing concerns regarding #U.S. monetary policy, geopolitical tensions, and the upcoming U.S. presidential election in November are expected to influence the top #Cryptocurrencies ' prices throughout 2024.

Bitcoin fell from approximately $62,200 to a low of $59,425 during intraday trading but has since recovered to above $60,200, though it remains down 3% in the past 24 hours.

Ethereum also dropped 3% over the same period, falling from a high of $3,425 to a low of $3,254, and is currently trading at $3,300.

Solana, the fifth-largest cryptocurrency by market cap, suffered the most significant decline among the top 10 coins, falling roughly 8% to $140. This drop follows recent optimism sparked by VanEck’s filing for a “Solana Trust” exchange-traded fund last month.

Overall, top cryptocurrencies have seen declines over the past month, with Ethereum down more than 12% despite anticipation surrounding the potential launch of Ethereum spot ETFs. Bitcoin has also fallen 12% during this period.

Analysts still foresee potential for price increases later in the year, suggesting that the current market cool-down may be a precursor to a significant price surge in the coming months. On Wednesday, CryptoQuant released a report analyzing Bitcoin mining metrics, indicating that current conditions could signal a potential bottoming out of prices.

#BinanceSquareBTC

👉👉👉 $XRP Lawsuit: Lawyer Reveals Reason Behind Delayed Remedies Ruling

XRP Lawsuit Delays: Community Concerns and Speculation

The prolonged XRP lawsuit between Ripple and the SEC has fueled speculation within the crypto community, with investors eagerly awaiting Judge Torres’s decision. Frustration is growing as delays persist, leading to questions about the reasons behind the hold-up.

Insights from Pro-XRP Lawyer Fred Rispoli:

Pro-XRP lawyer Fred Rispoli suggested that the delay could be due to logistical issues such as vacations and heavy caseloads, or potentially more complex legal considerations. He also mentioned that judges Torres and Netburn have likely already discussed an expert issue that won't affect Torres' ruling.

Settlement Rumors:

Rumors of a potential settlement have emerged following a closed-door meeting of the #U.S. SEC, but many market experts believe the case will proceed to a formal conclusion. Ripple remains confident in a fair ruling and stated that the central issue of XRP’s security status will not change regardless of the lawsuit's outcome.

XRP Market Impact:

As of writing, XRP is down 2.06% to $0.5042, with trading volume dropping over 26% to $1.39 billion. The cryptocurrency has experienced a 21% slump over the last seven days amid a broader market selloff but has seen gains of about 16% in the past 30 days.

The XRP community continues to anticipate the lawsuit's outcome, which remains critical to the cryptocurrency's future.

Source - coingape.com

#CryptoMarkets #BinanceSquareTrends