Bitcoin News and Finance: What You Need to Know

U.S. presidential candidate Vivek Ramaswamy says the government is “threatened by the existence of Bitcoin,” emphasizing that if the cryptocurrency becomes more popular, it would create “a threat to the incumbent status of the U.S. Federal Reserve itself.” He promised to ensure the government is “staying the heck out of the business of those who are innovating” if he’s elected president. Vivek Ramaswamy: Government Threatened by the Existence of Bitcoin U.S. presidential candidate Vivek Ramaswamy discussed a number of topics, including Bitcoin, in an interview with Natalie Brunell, published this week. He also recently revealed his crypto policy framework. “My view on the promise of Bitcoin … is an opt-out from the broken financial architecture created by the U.S. Federal Reserve System,” he began. While emphasizing that he wants to “fight for the dollar to remain the reserve currency of the world,” Ramaswamy stressed that there are two ways of doing it. “One is if you are really...

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler was slammed by the crypto community for stating: “We are not prosecutors of honest business, nor defenders of crookedness.” Many crypto advocates pushed back against Gensler, arguing that the SEC under his leadership has taken legal action against honest businesses, like Ripple and LBRY, while protecting crooks like former FTX CEO Sam Bankman-Fried (SBF). Crypto Community Outraged at Gensler’s Remarks The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, drew heavy criticism from the crypto community on Thursday when he stated on social media platform X that the securities regulator does not prosecute honest businesses and does not defend individuals engaged in fraudulent activities. Gensler wrote: As Joseph P. Kennedy, the first SEC Chair, once said: ‘We are not prosecutors of honest business, nor defenders of crookedness. We are partners of honest business & prosecutors of dishones...

The Securities and Exchange Commission (SEC) has reportedly provided specific guidance to exchanges seeking to list and trade spot bitcoin exchange-traded funds (ETFs) on what they should do next. “This is real progress,” said one crypto exchange insider. “The cash vs in-kind debate looks to be finding clarity.” SEC’s Advice Regarding Spot Bitcoin ETFs Optimism for spot bitcoin exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission (SEC) surged again on Friday after a report of the SEC engaging with exchanges to provide guidance on spot bitcoin ETF applications emerged. Bloomberg ETF analyst Eric Balchunas shared on social media platform X that he is hearing chatter suggesting that the SEC’s Division of Trading and Markets engaged in discussions with exchanges this week, advising them to use the cash creation method, instead of the in-kind method, for spot bitcoin ETFs. Moreover, the securities regulator reportedly asked exchanges to file amendments to...

Recent data reveals the crypto economy has experienced notable growth over the past month, with a substantial portion of its trading activity originating from South Korea. As an illustration, on Saturday, November 18, 2023, the Korean won accounted for 3.53% of all bitcoin ( BTC ) trades in the previous 24 hours. Bitcoin Price Soars $1,300 Above Global Norm in South Korea Cryptocompare.com’s data indicates that, on Saturday, bitcoin ( BTC ) trades involving the Korean won constituted 3.53% of the total. Ethereum ( ETH ) trades paired with the won represented about 1.65% , and a significant 8.78% of solana (SOL) trades were also conducted with the won. South Korea’s trading volumes have emerged as a significant force, with Upbit alone processing $2.62 billion in trades in the last 24 hours, making it the 11th largest crypto exchange by volume this weekend. Dogecoin trades with the Korean won comprised 3.06%, while the won also made up 19.77% of avalanche trades on Saturday. South...