US Treas Sec Yellen to give speech on cryptocurrency policy, regulation – Thursday 7 April

US Treasury Secretary Janet Yellen is set to a speech on cryptocurrency policy and regulation.

  • Thursday 10:30 a.m. ET (1430 GMT)
  • will outline possible steps the Treasury could take to investigate the use and technology of digital assets

US Treasury statement:

“Secretary Yellen will make the case for a consistent and comprehensive policy framework that promotes responsible innovation of digital assets and appropriately assesses and mitigates the risks they may pose”

BTC update … running scared of Yellen:

btc yellen 06 April 2022

Steve Wozniak believes BTC will reach $100K

Bitcoin has decreased over the past week by 0.9%, ending it at around $38,700. Yesterday, the decline continued, bringing the price to 38500. Ethereum lost 0.7% in 24 hours and added 1.5% in a week. Other leading altcoins from the top ten show mixed dynamics over 24 hours: from a decline of 3.8% (XRP) to a rise of 3.3% (Terra).

According to CoinMarketCap, the total capitalization of the crypto market decreased by 14% in 24 hours, to $1.72 trillion. The Bitcoin Dominance Index fell 0.1% to 42.4%.

In the first half of the past week, the first cryptocurrency tried to strengthen, testing five-day highs near $42,600. Later, BTC lost all gains, again being thrown back to support near $38,000. Pressure on all risky assets continues to be exerted due to the situation in Ukraine.

One of the Apple founders, Steve Wozniak, said that bitcoin would reach $100,000, which will be facilitated by the general interest in cryptocurrency. At the same time, he has a negative attitude towards altcoins and non-fungible tokens (NFTs).

The US Securities and Exchange Commission (SEC) has again rejected applications from the NYSE Arca and Cboe BZX Exchanges to create spot bitcoin ETFs due to non-compliance with US exchange law.

El Salvador has announced that it will postpone the issuance of bonds in bitcoins in connection with the events in Eastern Europe. The received funds were planned to be used for the construction of the “Bitcoin City”.

Visiting the UAE, Russians massively sell cryptocurrency for billions of dollars. Earlier, FBI Director Christopher Wray emphasized that the United States has vast experience in tracking cryptocurrencies, and Russia will not be able to use them to circumvent sanctions.

Elon Musk says won’t sell his Bitcoin, Ethereum, Doge against rising inflation backdrop

Slight jump in crypto assets on the tweet. He says that:

“As a general principle, for those looking for advice from this thread, it is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high. I still own & won’t sell my Bitcoin, Ethereum or Doge fwiw.”


Crypto – Concerns that EU vote coming on Monday could be a ‘de-facto’ ban of Bitcoin

Crypto-assets issued and/or traded in the EU “shall be subject to minimum environmental sustainability standards and set up and maintain a phased rollout plan to ensure compliance” with those requirements, according to the final draft for the law, dubbed MiCa, that was seen by Bloomberg News. The Economic and Monetary Affairs Committee will vote on the bill on Monday.

The reference to minimum sustainability as well as rollout requirements appear to be last-minute changes introduced to curb, or ban, the use of digital currencies working on a so-called “proof-of-work” consensus mechanism, for instance Bitcoin and  Ethereum .

Crypto-focused media says the outcome of the vote appears to be more or less 50-50.

BTC has lost ground as concerns gather pace:

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