Bitcoin
The bitcoin value rally this yr has stalled as fears rise the U.S. could crack down on bitcoin and other major cryptocurrencies ethereum, BNB, XRP, cardano, dogecoin, polygon and solana.
Now, after Tesla
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“China Central Tv simply broadcasted crypto,” CZ posted to Twitter alongside a hyperlink to CCTV’s web site that confirmed a TV phase that featured a bitcoin ATM in Hong Kong and an indication that stated “purchase bitcoins.”
“It is a huge deal,” CZ stated. “The Chinese language-speaking communities are buzzing. Traditionally, coverages like these led to bull runs.”
China has had a fraught relationship with bitcoin, ethereum and different cryptocurrencies over time, repeatedly cracking down on it. In 2021, China enacted its strictest crypto buying and selling and mining ban but, ejecting all bitcoin, ethereum and crypto miners from the nation.
Hong Kong adopted China in clamping down on bitcoin and crypto buying and selling platforms however has just lately adopted a brand new crypto licensing regime that can permit the buying and selling of established cryptocurrencies corresponding to bitcoin and ethereum from June 1.
The brand new guidelines would require all buying and selling platforms and exchanges to use for a licence or danger fines and jail phrases.
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“A important majority of respondents agreed to our proposal to permit licensed buying and selling platform operators to serve retail traders,” Honk Kong’s Securities and Futures Fee (SFC) stated in an announcement this week.
“The SFC will implement quite a few strong measures to guard these traders together with making certain suitability within the onboarding course of, good governance, enhanced token due diligence, admission standards and disclosures.”