By now it is lunch time again and so time for the live Bitcoin price and the prices of the top 25 crypto. Then we look at how the SEC is making a BTC spot ETF almost impossible but managing to gain investors’ trust. Finally, we look at the status of crypto exchange Binance. Will it soon be possible to legally (re)buy Bitcoin in Europe through Binance again?
We start of course with the live Bitcoin price and the prices of the top 25 crypto.
How does the live Bitcoin price and top 25 crypto move?
As an exception, for once today we are not live. This means you can analyze the live Bitcoin price and the prices of the top 25 crypto directly on the Tradeincrypto.com site. A great time to see if last night’s bull rally continues.
Of course, we do offer the latest Bitcoin and crypto news ‘as usual’ for free.
SEC makes Bitcoin spot ETF practically impossible
One of the drivers of last year’s Bitcoin rally was the fact that the U.S. Securities and Exchange Commission (SEC) granted approval for an ETF for Bitcoin futures. No approval has been granted for an ETF on the immediate Bitcoin price, the so-called BTC Spot ETF, to this day.
Such an approval is needed soon, according to the market. Many investors therefore hoped that approval for a BTC spot ETF in 2022 would provide a new boost to the price. This does not seem to be coming to fruition.
Indeed, until now, the SEC was not specific about the conditions under which they wanted to allow a Bitcoin spot ETF. However, in their letter of approval for the next Bitcoin futures ETF, they lifted a tip of the hat.
In the letter, the SEC explains that it expects crypto exchanges to centralize before filing. This goes directly against the basic principles of crypto. In fact, this market is based precisely on decentralization. Why this poses a huge problem is explained in the video below.
With that, hopes for an imminent BTC spot ETF seem lost. Incidentally, the BTC spot ETF is uncomfortable for many investors. That’s why our colleagues at Tradeincrypto.com answer the 10 questions you should ask before trading Bitcoin spot ETFs.
SEC boosts confidence among Bitcoin and crypto investors
This action by the SEC does not seem very helpful. On another front, it does try to make investors feel more confident about Bitcoin.
One way the SEC is doing this is by greatly expanding its investigation unit for Bitcoin and crypto fraud. In fact, it is almost doubling it. This will create more power to tackle Bitcoin fraudsters. It will also allow for more effective oversight of other important crypto processes. These include blockchain management and the monitoring of the collateral that guarantees the value of stable coins.
The SEC is also looking to enter into a cooperation agreement with regulators at the Commodity Futures Trading Commission (CFTC). With this, the SEC can then guard even more effectively a safe crypto market and thus the interests of the (institutional) investor.
Binance by the book, also in the Netherlands?
The world’s largest crypto exchange, Binance, came under frequent scrutiny last year as more and more countries warned the crypto exchange for not adhering to local laws and regulations. The Dutch Bank even issued a warning that Binance was acting illegally.
Since then, Binance has been busy polishing its blazon. Europe seems to be its target market. Last night, Binance announced that it had submitted an application for a license to the French securities regulator AMF. In an extensive statement, the crypto exchange reflects on this step. It emphasizes the importance of acting in accordance with laws and permits (compliance). To put some pressure on the process, it also claimed that Binance was already the largest crypto exchange in France before the license application.
The press offensive took on a Dutch flavour when the crypto exchange announced that it plans to apply for licenses in more European countries. One of the countries mentioned is the Netherlands. So if the approval comes, Binance will be able to legally offer Bitcoin trading in the Netherlands again.
Liberation Day: investing in wartime
In honor of Liberation Day, we created a special on wartime investing. Of course, people didn’t have Bitcoin or other crypto currencies during World War II, but according to our surprising research, that doesn’t mean that investing in war is unprofitable. In addition, our analysis counters a common assumption about investing in gold during a war. Also, of course, we honor our resistance fighters who used investing in war to secure the interests of the state by executing the largest bank robbery ever. You can read the Liberation Day special on investing in war on our sister site MANNERS.co.uk.
Want to stay up to date on the latest stock price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”