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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailProper crypto regulation could attract more consumers, Blockchain Association saysKristin Smith of the association says that would make consumers more comfortable transacting with cryptocurrency and could also bring institutions into the industry.
"If there is a good side (to the FTX disaster), it would be that it gets the law prioritized," he told Reuters on Tuesday. Brazil is one of the top 10 active markets globally for crypto, according to 2022 Chainalysis data. "If it's good for Brazilian investors, then it's a good law," he added. FTX filed for bankruptcy last week and is facing scrutiny from U.S. authorities, amid reports that $10 billion in customer assets were shifted from the crypto exchange to FTX founder Sam Bankman-Fried's trading company Alameda Research. Dagnoni told Reuters that Mercado Bitcoin, mainly active in Brazil and Portugal, had no exposure to FTX, having developed its own custody solution to store customer assets.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCryptocurrency is going to be rocky in the short term, says Blockchain AssociationKristin Smith of the association discusses Binance's withdrawal of its plans to acquire FTX and the regulatory outlook of the industry.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrypto is going to come out the other side of this, says Blockchain Association executive directorKristen Smith, Blockchain Association executive director, joins Eamon Javers and the ‘CNBC Special: Taking stock’ to discuss the drama surrounding the abandoned FTX-Binance deal and the impact it’s had on the cryptocurrency markets.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin investors are in it for the long run, says Blockchain Association's Kristin SmithKristin Smith, Blockchain Association executive director, joins CNBC's 'Squawk Box' to discuss bitcoin prices, which are hovering below $20,000 as of Friday morning.
But signs of a thaw, spurred on by global currency chaos, are beginning to appear. The gains gave crypto bulls hope that bitcoin was becoming a safe haven asset, or one that acts as a hedge when stocks are falling. Then, around midday, the dollar grew in strength and bitcoin came crashing down again, wiping out all of its recent gains. But all assets are suffering, bitcoin isn’t in this alone.”The silver lining: But even as bitcoin prices fall, investors see signs of a bottom. The central bank is also considering the launch of a Central Bank Digital Currency, which is essentially a digital version of the dollar.
Industry groups representing Amazon, Apple, Block, Coinbase, Genesis, Google, GrubHub, Lyft, Facebook/Meta, Uber, and other companies wrote to the state assembly opposing the law. Nine organizations representing consumers and advocating for economic justice wrote to the state assembly expressing support for the law. Several tech industry groups representing major companies and venture capital firms wrote in to oppose the law. Several organizations advocating for consumers and economic justice wrote to the state assembly expressing support for the law. Interest groups argued that regulation presents an "undue burden"on crypto companiesBlockchain Advocacy CoalitionThe Blockchain Advocacy Coalition wrote to Assemblymember Grayson on August 26.
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