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SEC Chairman Gary Gensler reiterates his support for a bitcoin futures ETF

  
Analysis, BITCOIN

Gary Gensler is the head of the US Securities and Exchange Commission.

This piece (link) cites his renewed support for bitcoin futures Wednesday US time.
  • noted a number of open-end mutual funds invested in bitcoin futures traded on the Chicago Mercantile Exchange
  • said laws provides “significant investor protection” for mutual funds and ETFs.
SEC is reviewing more than a dozen ETF filings for bitcoin and bitcoin futures products, among others, but none have been approved yet.
BTC has held its earlier gains:
btc chart 30 September 2021

PBOC issues notice to further prevent, dispose of risks from cryptocurrency speculation

  
Analysis, BITCOIN

China strengthens regulation on cryptocurrencies again

  • To strengthen monitoring of risks from cryptocurrency trading
  • Reaffirms that cryptocurrency-related activities are illegal
  • Says overseas crypto exchanges must not provide services to mainland investors
  • To severely punish illegal financing activities related to cryptocurrencies
Bitcoin is taking a significant hit as it falls by over 2.5% to the lows for the day now amid the headlines from China over the past 15-20 minutes.

 

Bitcoin

China state planner issues notice on crackdown of cryptocurrency mining

  
Analysis, BITCOIN

China clamps down further on cryptocurrencies

The China state planner says in the notice that it is to strictly prohibit financial support for new cryptocurrency mining projects and that it will not allow said projects to participate in electricity markets.

 

This is all part of a broad-scale crackdown in Chinese markets with the earlier warning to high commodity prices here.
Bitcoin lurking a little lower on the headlines here, down 0.7% on the day to $44,400.

ICYMI – Bridgewater founder Dalio: “I have a certain amount of money in bitcoin”

  
Analysis, BITCOIN

Ray Dalio is the founder of the world’s largest hedge fund, Bridgewater Associates; he said he still thinks that bitcoin makes a good alternative to cash

Dalio was speaking in a CNBC interview:
  • said regulators will kill BTC if its successful, “I think at the end of the day if it’s really successful, they will kill it and they will try to kill it. And I think they will kill it because they have ways of killing it”
Dalio likes BTC:
  • “I think it’s worth considering all the alternatives to cash and all the alternatives to the other financial assets. Bitcoin is a possibility. I have a certain amount of money in bitcoin”
Link to CNBC is here for a little more, worth checking out.
BTC update:
Ray Dalio bitcoin
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