Bitcoin fell 3% on Friday afternoon in New York after the Securities and Exchange Commission (SEC) said it would not consider applications for exchange-traded funds based on spot bitcoin prices until mid-October. The decline effectively erased a weekly gain propelled by a court win for ETF hopeful Grayscale, which is trying to convert a bitcoin trust to the exchange-traded format.
The leading cryptocurrency is now valued at $25,528, accordin...
Understanding Exchange-Traded Funds And Bitcoin
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Exchange-Traded Funds, or ETFs, are investment vehicles that track specific assets or commodities. In the context of bitcoin, ETFs offer an avenue for investors to gain exposure to its price movement without actually holding the cryptocurrency. Instead of navigating cryptocurrency exchanges and wallet setups, investors can buy shares of a bitcoin ETF through conventional brokerage accoun...
"Art tech" refers to solutions that assist art market stakeholders—whether they're collectors, creators, or gallerists—in elevating their businesses. The inception of art tech predates the dot-com boom, with SaaS solutions targeting this market. Yet, nearly three decades on, the art market predominantly operates on PDFs, word processors, email lists, and spreadsheets.
According to the 2023 Art Basel and UBS market report, global art sales in...
Welcome to the weekly Crypto Market Insights that touch on the latest news on digital assets developments and policy updates from across the Asia Pacific region.
Here are key events from last week:
BIS announced Projects Mariana and Mandala with Asian central banks
UBS launched its first tokenized VCC fund pilot in Singapore
HKEX builds a smart contract based settlement platform on Stock Connect
BIS announced Projects Mariana and Ma...
Welcome to the weekly Asia Crypto Insights that touch on the latest news on digital assets developments and policy updates from across the Asia Pacific region. Click here for the weekly 2-min podcast.
Here are key events from last week:
Bhutan introduces National Digital Identity on blockchain
South Korea establishes new regulation and SK Telecom launches crypto wallet
Australia Treasury released proposal to regulate digital asset platf...
Bitcoin
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distinguishes itself from conventional, central bank regulated currencies by operating on a fixed supply. Specifically, only 21 million bitcoins will ever exist, with just under 2 million yet to be mined. This scarcity is managed through a mechanism known as "halving," designed to curb inflation and increase the asset's value over time.
Every four years, bitcoin's mining rewards are slashed in half, a feature embedded in it...
Despite assertions by Securities and Exchange Commission Chair Gary Gensler that when it comes to crypto regulation, the existing rules are adequate and sufficient, a new report by the U.S. Government Accountability Office outlines significant gaps, raises concerns regarding consumer and investor protections, and calls for legislative and regulatory action.
This news raised eyebrows across the financial services spectrum because it is not j...
A Texas judge decided in favour of the sanctions of the Office of Foreign Assets Control against the blockchain privacy tool Tornado Cash. As a result of the sanctions, using this tool has become illegal for US persons and practically impossible for others.
The Coinbase-backed case claimed that the Treasury exceeded its statutory authority by overstepping the requirements of the International Emergency Economic Powers Act, a law used by OFAC...
Bitcoin
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and crypto could be heading into its biggest ever couple of months, with one well-respected investigator predicting September is going to be "crazy."
Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and successfully navigate the bitcoin and crypto market rollercoaster
The bitcoin price has swung wildly—dragging etheruem and other major cryptocurrencies including XRP
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, BNB
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, cardano, dogecoin, solana...
Merchants could soon be paying an extra $502 million annually in payment processing costs according to a recent article by The Wall Street Journal. The reporting predicts that merchants will pass along at least some of those costs to consumers, an unfortunate development in the face of rising inflation.
The WSJ article also mentioned that more small businesses are beginning to offer discounts to shoppers who pay by debit card, cash, or check...
