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China Declares All Virtual Currency Transactions “Illegal”, Sending Crypto Prices Tumbling

By Tyler Durden, China expanded its escalating crackdown on cryptocurrencies on Friday when its central bank declared that all activities related to digital coins are “illegal” and must be banned. In a statement the People’s Bank of China said the latest notice was to further prevent the risks surrounding crypto trading and to maintain national security and[…]

First Weekly Outflow From Stocks In 2021

By Tyler Durden, After a tremendous stretch of non-stop weekly inflows into mutual funds and related investment products since before the start of 2021, the latest week showed net selling of equities for the first time this year. According to EPFR, net flows into global equity funds turned negative in the week ending September 22[…]

JPMorgan: Institutional Investors Are Piling Into Ethereum, Leaving Bitcoin.

By Tyler Durden, It’s not the first time that a major bank has expressed preference for ethereum over bitcoin: back in May, when Goldman published its initiating coverage on the crypto sector (available for professional subs in the usual place), the bank was surprisingly dismissive toward bitcoin which it saw as an electricity-draining Proof-of-Work, one trick pony… …[…]

Veteran trader explains when it’s the best time to cash out of the market

By Jordan Finneseth, Veteran trader Charlie Burton gives tips on how investors can manage their emotions in bull markets and the importance of sticking to a defined set of trading rules. 2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863, and[…]

‘Extreme fear’ as Bitcoin price falls below $40K… and then bounces

By Samuel Haig, While many analysts believe Bitcoin is destined for six figures if support at $40,000 can hold up, others are predicting an imminent bear cycle. The price of Bitcoin (BTC) has slumped below $40,000 for the first time in six weeks. The slide took place near the close of the day on Tuesday,[…]

Ripple Blocked from Seeing SEC Employees’ Crypto Holdings.

By Alex Dovbnya, Ripple has been delivered another blow by the court, with the judge denying it access to SEC employees’ crypto trading records and holdings. Magistrate Judge Sarah Netburn has denied Ripple’s motion to obtain documents about the U.S. Securities and Exchange Commission’s preclearance decisions regarding cryptocurrency trading as well as the staff’s personal holdings.[…]

5 IPO Stocks to Watch in September

By Wayne Duggan, The boom in initial public offerings that started in 2020 has accelerated in 2021, thanks in part to record stock prices. Traditional IPOs have raised $96.3 billion as of mid-August, up 155.3% compared with a year ago. There have been 277 IPOs so far in 2021, blowing past 2020’s full-year total of[…]

CFTC renewed: What Biden’s new agency picks hold for crypto regulation

By Krill Bryanov The three officials tapped by the Biden administration for CFTC roles come with promising crypto credentials, but can they live up to the promise? On Sept. 14, United States President Joe Biden revealed his picks to fill two vacant seats at the United States Commodity Futures Trading Commission (CFTC). In addition, the president nominated[…]

Cryptocurrency, New Regulations, and the FATF

By Gregory Bilecki One of the biggest recent developments – and currently flying under most people’s radar — is the new regulations from the inter-governmental Financial Action Task Force (FATF) that have been imposed upon crypto exchanges globally. The new regulations require relinquishing certain customer data on any transaction involving 1,000 USD/EUR or more. These[…]

EXPLAINER: How Cryptocurrency Fits Into Infrastructure Bill.

By MARCY GORDON, A lot right now in the U.S. Congress. One way lawmakers propose to pay for the $1 trillion infrastructure bill the Senate approved Tuesday is by imposing tax-reporting requirements for cryptocurrency brokers, the way stockbrokers report their customers’ sales to the IRS. It could open the way for tighter regulation of cryptocurrency[…]