LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LONDON WALLET
  • Home
  • Investing
  • Business Finance
  • Markets
  • Industries
  • Opinion
  • UK
  • Real Estate
  • Crypto
No Result
View All Result
LondonWallet
No Result
View All Result

Bitcoin is trying to consolidate above the $37,000 level as regulatory concerns return to the forefront again

Philip Roth by Philip Roth
November 21, 2023
in UK
Bitcoin is trying to consolidate above the ,000 level as regulatory concerns return to the forefront again
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Elton John says Ozzy Osbourne was ‘in the pantheon of rock gods’

Elton John says Ozzy Osbourne was ‘in the pantheon of rock gods’

Police at Canary Wharf hotel amid claims migrants being housed there

Bitcoin fell slightly this morning to below the $37,300 level, as well as Ethereum, which is still trading at the $2008 level after touching the $2068 level yesterday.

It appears that the markets may suffer from the return of negative sentiment in light of the return of regulatory concerns to the fore and renewed fears of another possible turmoil in the market. That was with the lawsuit filed by the SEC yesterday against the third largest crypto exchange, Kraken.

While the SEC brought a number of charges against the crypto giant regarding its unregistered work as an exchange, broker, dealer, and clearing agency, in addition to charges of comingling investors’ funds with the company’s own funds.

The SEC also said that this unlicensed business deprived investors’ funds of the necessary protection. This, in turn, prompted the Authority to file charges against the exchange related to failure to carry out internal control and record-keeping as required.

In the aftermath, the head of the authority’s law enforcement division said that the exchange had preferred to make hundreds of millions of dollars rather than comply with the laws.

This lawsuit call brings to mind the lawsuits that Coinbase and Binance faced, in addition to the collapse of FTX and the lawsuits that it subsequently faced. These events, although different in some details, once again awaken fears about renewed widespread collapses that may occur in the market in the event of a renewed outbreak of panic among participants.

However, I believe that the giants of companies operating in this sector have already learned how to survive and maintain the necessary reserves to face any sudden withdrawals or panic outbreaks in such circumstances, and this may prevent such collapses from occurring on a large scale. This is what it looks like. So far.

In contrast, Kraken defended itself by saying that the authority did not report any fraud, manipulation, or loss of customer funds as a result of a cyber breach.

The exchange also stated that the authority did not indicate a failure to maintain sufficient reserves and that it could not prove the loss of any client funds. Kraken appears to be seeking to allay any potential concerns among its customers as well as defend itself.

This lawsuit against one of the largest cryptocurrency companies has also prompted Congress, Cynthia Lummis, to renew the call to pass the legal framework that regulates this market, which clearly defines for the SEC what are securities and what are commodities, and this would stimulate more innovation. in the United States.

This is true, of course, and I believe that the continued regulatory concerns and the lack of a clear legal and legislative environment may remain an obstacle to the development of this sector and prevent further adoption of this technology, in addition to weakening investors’ appetite to enter this very turbulent market until now.



Source link

Share30Tweet19
Previous Post

Fantom Foundation awards $1.7M bounty for preventing $170M drain

Next Post

2023 Tesla prices: How much does your favorite model cost?

Philip Roth

Philip Roth

Recommended For You

Elton John says Ozzy Osbourne was ‘in the pantheon of rock gods’
UK

Elton John says Ozzy Osbourne was ‘in the pantheon of rock gods’

July 23, 2025
Elton John says Ozzy Osbourne was ‘in the pantheon of rock gods’
UK

Elton John says Ozzy Osbourne was ‘in the pantheon of rock gods’

July 23, 2025
Police at Canary Wharf hotel amid claims migrants being housed there
UK

Police at Canary Wharf hotel amid claims migrants being housed there

July 23, 2025
‘Four kids from Aston’ – Black Sabbath members bid farewell to Ozzy Osbourne
UK

‘Four kids from Aston’ – Black Sabbath members bid farewell to Ozzy Osbourne

July 23, 2025
Next Post
2023 Tesla prices: How much does your favorite model cost?

2023 Tesla prices: How much does your favorite model cost?

Related News

Teenager describes ‘magical’ London Marathon as event’s youngest runner

Teenager describes ‘magical’ London Marathon as event’s youngest runner

April 23, 2023
Court of Appeal set to rule on Rwanda policy challenge

Court of Appeal set to rule on Rwanda policy challenge

June 29, 2023
Explore LSE housing market: A big reveal of postgraduate accommodation – London Business News | London Wallet

Explore LSE housing market: A big reveal of postgraduate accommodation – London Business News | London Wallet

December 5, 2024

Browse by Category

  • Business Finance
  • Crypto
  • Industries
  • Investing
  • Markets
  • Opinion
  • Real Estate
  • UK

London Wallet

Read latest news about finance, business and investing

  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2025 London Wallet - All Rights Reserved!

No Result
View All Result
  • Checkout
  • Contact
  • Home
  • Login/Register
  • My account
  • Privacy Policy
  • Terms and Conditions

© 2025 London Wallet - All Rights Reserved!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?