The price of bitcoin today is $11,535.40.
Bitcoin has appreciated over the course of the prior month from $8,176.02 to $11,535.40 . With that, let’s take a look at what’s been happening within the crypto world over the past week.
Trump Says He Doesn’t Like Cryptocurrencies
In what may have come as a surprise to many people, Trump is not the biggest fan of unregulated cryptocurrencies. There’s a lot to read into.
The President of the United States tweeted “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….”
The statement indicates that there may be more regulatory burdens placed on cryptocurrencies in the future.
Here Is how bitcoin is regulated
Bitcoin is regulated to the extent that trades and use of bitcoin for purchases are taxed. Bitcoin is not defined as a security by the SEC.
Many exchanges now require KYC and work with bank banks that have AML protocols and implementations.
The SEC is also delving into blockchain technology by working with private parties to potentially run nodes and participate on the distributed public ledgers.
BlockStack and Reg A Tokens
Blockstack worked to release Reg A+ tokens which allows them to be directly in line with the SEC. Reg A+ offerings are open to all participants, it is not limited to accredited investors.
The company will initiate a $28 million token offering with the blessing of the SEC.
The crypto market is maturing and more of the players are taking a permissioned approach.
This is a big deal from two viewpoints.
First, the SEC is now working with crypto companies to deploy regulated token offerings and second more crypto companies may be able to raise capital to fund projects through this new regulated process. There are those who see hthis is a historic win and those who see it is a small step toward stepping away from the permissionless and decentralization ethos of the crypto sector.
Litecoin Is the Official Cryptocurrency of the Miami Dolphins
Talk about cryptocurrency going mainstream. First, Litecoin was represented by the UFC, now, the Litecoin Foundation will partner with the Miami Dophins to be an official cryptocurrency.
This means that cryptocurrencies are becoming less obscure and part of the mainstream conversation.
Binance To Burn all 80M Incentive BNB
According to Binance CEO, CZ, Binance may be planning on burning 80M of the BNB allocated to the team. This is important news for BNB and potential BNB holders as it may bolster market confidence and increase the price of the cryptocurrency.
After the token burn, total supply of BNB will be 100,000,000 BNB according to a recent blog post by the company.