Cryptocurrency news for today Are you curious about today’s crypto events? In Addition, Get the most recent updates on events and trends affecting the price of Bitcoin. blockchain. DeFi. NFTs. Web3. and regulations about cryptocurrencies.
Enforcement actions against Silvergate are dropped by the Federal Reserve Board
One of the earliest banks involved in the cryptocurrency industry was Silvergate.In Addition which was established in 1988. The parent business of the company declared in March 2023 that it would cease operations following the 2022 market collapse.
The Federal Reserve Board said in an announcement that Silvergate had complied with the requirements for its wind-down. Which included paying back consumers and ending all banking activities. The enforcement of regulatory actions against the now-defunct bank has ceased.
Crypto emojis are removed from Elon Musk’s X, confusing the community
After more than four years of usage. Elon Musk’s X has caused a stir in the cryptocurrency sector once more by eliminating cryptocurrency emojis. The reasons behind the removal of multiple cryptocurrency emojis. including Bitcoin. In addition have baffled the crypto community on X. Numerous sources state that on July 25. X deleted the Bitcoin hashtag emoji along with a few other cryptocurrency emojis.
Some observers find it puzzling that the decision was made on July 25. right before the start of the Bitcoin 2024 conference in Nashville. Tennessee. Prominent speakers at the conference will include Donald Trump. the Republican nominee for president. On July 27. Trump—who describes himself as a pro-crypto candidate—will give a speech at the conference.
Further information: What is Altcoin Season and How to Make the Most of It?
Congress rejects Elizabeth Warren’s anti-crypto determine
In 2022. Republican Senator Roger Marshall and Democrat Senator Elizabeth Warren co-authored a contentious anti-crypto law. however. Marshall has since retracted his support for the measure. According to the official congressional directory. Addation 18 senators remain in favor of the Digital Asset Anti-Money Laundering Act after Marshall withdrew his support as a “cosponsor” on July 24.
The DAAMLA bill was jointly presented by Marshall and Warren in December 2022. In addition, Senator Warren accused that crypto was being used to launder billions of dollars in stolen funds by rogue nations. oligarchs. drug lords. and human traffickers.
The goal of the measure is to make the cryptocurrency business comply with current regulations meant to prevent money laundering and the funding of terrorists. Several crypto groups and people have voiced their concerns that the proposed law may severely limit the growth of the cryptocurrency market in the United States and that it grossly overstates the role of cryptocurrency in financing terrorism and other illegal activities.
Cryptocurrency news for today Conclusion
Major cryptocurrencies like Bitcoin and Ethereum continue to see large price fluctuations in today’s cryptocurrency news. while new cryptocurrencies continue to make waves with noteworthy developments. Staying current on market trends and news is crucial. as the recent price variations demonstrate the continuous volatility in the area. In addition, The sector’s dogged pursuit of innovation and sustainability is further evidenced by developments in blockchain technology. Such as Ethereum’s persistent move towards proof-of-stake. Not only do these shifts affect cryptocurrency pricing. but they also influence how widely used and practical cryptocurrencies will become.
In terms of laws. Today’s announcements highlight the increasing focus of world leaders on creating rules to control the cryptocurrency market. The future of digital assets will be greatly impacted by these legislative developments. In Addition, It will have a substantial impact on market stability and investor trust. among other things. Keeping up with the latest developments and being flexible are crucial for thriving in the ever-changing bitcoin industry.
Read more: Cryptocamp
