SEC ends crypto inspections, raises prices of altcoins

According to BlockBeats, the US Securities and Exchange Commission (SEC) ended its inspections of several cryptocurrencies this week, leading to some altcoins increasing in price. On Thursday, Paxos confirmed that the SEC dropped its investigation into stablecoin BUSD, leading to a 6.8% increase in BNB. Additionally, blockchain infrastructure provider Stacks, Hiro, announced on Friday that the SEC has ended its three-year investigation into the company, sparking a recovery in STX's market value. . Earlier this month, a federal court ruling reaffirmed ETH's commodity status, although the ruling is non-binding. Courts may consider this in future crypto-related cases, including those involving small-cap tokens. XRP and Cardano (ADA), both of which have long been monitored by the SEC, recently saw their prices increase by 19%. Bitcoin also appears to have eased selling pressure from the German government, which sent its remaining Bitcoin holdings to exchanges on Friday. The German government wallet has held about 50,000 BTC for several months, but its balance is now zero. In recent weeks, selling pressure from creditors in Germany, the United States and Mt. Gox is a common cause of concern in the markets. With Bitcoin mining difficulty dropping significantly and panic selling by short-term traders, on-chain analysts believe that Bitcoin may have reached or near a local bottom.