Bitcoin News and Finance: What You Need to Know

The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the crypto sector and ensure America is the place for fintech and blockchain innovation. “We want a regulatory framework that’s transparent for developers, investors, and potential consumers,” the lawmaker emphasized. US Lawmaker Shares Priorities on Crypto Regulation U.S. Congressman French Hill (R-AR), who was recently appointed chairman of the newly formed subcommittee on “Digital Assets, Financial Technology and Inclusion,” discussed several crypto-related priorities for his subcommittee in an interview with CNBC Thursday. Replying to a question about whether the U.S. should have a spot bitcoin exchange-traded fund (ETF), he explained that it is an area his subcommittee wants to explore. The congressman detailed: You’ll see us look at a privacy law, a federal privacy law … you will see us consider a stablecoin bill … you will see us explore what are...

A commissioner with the U.S. Securities and Exchange Commission (SEC) has called for “a coherent and consistent legal framework that works across all asset classes,” including crypto assets. She warned that the SEC’s current enforcement-centric approach would take 400 years to go through all the crypto tokens that are allegedly securities. SEC’s Commissioner on Crypto Regulation A commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, talked about crypto regulation in her speech at the “Digital Assets at Duke” conference on Jan. 20. Noting that the securities regulator has “pursued registration violations in a seemingly random fashion, often years after the original offering,” the commissioner stressed: We must develop a coherent and consistent legal framework that works across all asset classes. Our imprecise application of the law has created arbitrary and destructive results for crypto projects and purchasers. “When we insist on applying the secu...

Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank’s list as the asset with the highest risk-adjusted return — above gold, real estate, the S&P 500, and the Nasdaq 100. Bitcoin Outshines Other Investments on Goldman’s Chart Global investment bank Goldman Sachs has reportedly ranked bitcoin the best-performing asset year-to-date (YTD). The Twitter account Documenting Bitcoin tweeted earlier this week: Bitcoin is the best performing asset in the world this year, according to latest data by Goldman Sachs. The tweet includes a market performance chart by Goldman Sachs showing the top 25 markets’ total returns as well as their year-to-date risk-adjusted returns. Bitcoin tops the total return list at 27%, followed by MSCI Emerging Markets Index at 8%. BTC also tops Goldman Sachs’ risk-adjusted return list, with a Sharpe Ratio of 3.1. The price of bitcoin has risen since the firm published its char...

PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/ USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and assets with cutting-edge technologies that have the potential to transform various industries and allow people to adapt crypto assets. Its native token GDCC will be listed on LBank Exchange at 8:00 UTC on January 27, 2023, to further expand its global reach and help it achieve its vision. Introducing Global Digital Cluster Coin Global Digital Cluster Coin (GDCC) is a new-age protocol that caters to web3.0 services and community-driven technology, allowing users to build their dApps and serving as a hub for digital assets, international payments, and applications. Because the protocol is open to all, anyone in the world w...

The Department of Motor Vehicles (DMV) in California is running a project to digitize all of its titles and put them on a blockchain. The project, which will use the Tezos blockchain and has the assistance of Oxhead Alpha, a crypto dev company, aims to allow users to transfer titles as NFTs in the future. Innovation Comes to the DMV in California The Department of Motor Vehicles (DMV) in California is working to bring innovation to its tasks by decentralizing its functions. The institution is currently in the process of moving all of its registered titles to the blockchain, according to Ajay Gupta, the chief digital officer of the DMV in the state. The project, which started back in 2020 and stopped progress due to the pandemic, will produce a “shadow ledger” of all of the vehicle titles in the state, to modernize its registry and operations. The new system will be established on top of the Tezos blockchain and will be built in partnership with Oxhead Alpha, a cryptocurrency devel...

While the collapse of the crypto exchange FTX and its affiliate Alameda Research is thought to have left many crypto players, including market makers, in the worst possible position, according to Andrei Grachev, managing partner at DWF Labs, this incident may have helped to “flush out companies that were not sustainable enough to operate during a storm.” As a result, the “market will be healthier” going forward. The Art of Market Making Besides weeding out weak players, Andrei Grachev suggested in a written response to questions from Bitcoin.com News that the collapse of key crypto industry players like FTX and Terra has highlighted the importance of adopting measures that protect users. One such measure, which can be used by global digital asset market makers like DWF Labs , is the so-called pump-and-dump protection scheme. The scheme is essentially a liquidity management technique across exchanges. Meanwhile, Grachev also shared his views on topics that range from the misconcept...

Paraguayan mining companies are taking a hit to their profitability due to the steep power fee hikes the government has established for cryptocurrency mining activities. According to reports from Braiins Mining business developer Nano Grijalba, after the veto of the crypto law, the change in power fees makes mining hosting an unprofitable business in Paraguay. Bitcoin Mining Power Fee Hike Hurts Paraguayan Companies Once seen as a haven for bitcoin and crypto miners, Paraguay has changed. Paraguayan miners now complain due to the price hikes the government has applied specifically for the industry of cryptocurrency mining. According to reports from Nano Grijalba, business developer of Braiins Mining, this price hike of over 50% is discriminating against bitcoin miners directly using the excuse of the low number of jobs the industry creates. Grijalba criticized the environmental logic of these measures. On this issue, he stated : Paraguay’s decision to increase fees for bitcoin m...