Sunday, September 24, 2023

Cryptocurrency With Broad Surge: Bitcoin Hits 3-Week High

Cryptocurrencies act with most of the growth this Monday, May 29. Bitcoin has gained 1.4% over the past 24 hours and is trading at $27,600, although during the day it touched $28,400 and reached a three-week high. For its part, Ethereum rose 2.1% to u$s1,890.

Regulation of cryptocurrencies in the US

Peter Smith, the CEO of the blockchain platform, said on Thursday that thousands of developers in the cryptocurrency industry are leaving the United States because of the “frankly negative” attitude of US regulators towards virtual currencies.

Troubles in recent months, such as the bankruptcies of banks and platforms like FTX, have shaken the world of cryptocurrencies and brought the debate over its regulation back to the table. In the absence of specific legislation, promoters of the sector accuse Washington of opaque regulation.

The “categorically negative” attitude of US regulators has prompted “thousands of incredibly talented people to leave the US for other places this year,” Peter Smith, CEO of the blockchain platform, said during an economic forum in Qatar.

Professionals are leaving for other “more creative” destinations, he said, citing Portugal, the United Arab Emirates, the United Kingdom, Singapore, Hong Kong or France.

According to him, after a “turbulent year”, the sector is registering “real growth”, Peter Smith insisted.

“We invest in Singapore, we invest extensively in Europe, because those are the two safest environments,” he said.

The Southeast Asian city-state has proposed new rules to control the transfer of virtual assets such as .

The European Union (EU) recently adopted new tax transparency rules for companies active in crypto asset transactions and two regulations on the crypto asset market (MICA) and the transfer of funds (TFR).

According to Peter Smith, blockchain activity is on the rise, especially in Nigeria, Ghana, Colombia, Argentina, and Ukraine.

Nation World News Desk
Nation World News Desk
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