Weak bitcoin prices are unlikely to break the SEC's new rules!
On Tuesday, as major cryptocurrencies traded in negative territory on Monday, the digital currency was unable to hold up its weekend gains.After hitting a 10-day high of 7768.931 on Sunday, the world's largest digital currency has fallen back to around $7,500, a level it has been hovering at for much of the past week.Bitcoin was trading at $7412.01 today, according to Bitstamp.
Despite last week's modest market volatility, interest in bitcoin has not waned.Peter Lusk, senior strategist at the Chicago board options exchange, wrote: "the volume of bitcoin futures contracts traded on the Chicago board options exchange has increased significantly from the previous week.The market was closed last Monday because of a us holiday, but on Tuesday the spot month contract volume hit an all-time high of 8,373 on the day.
But the average daily volume of bitcoin futures was 5,755, up from 4,490 last week.
The securities and exchange commission appointed a senior adviser on cryptocurrency
The us securities and exchange commission said on Monday it had appointed ValerieSzczepanik to run a division dedicated to digital assets and innovation because of regulatory issues that have long hung over the bitcoin and token markets.
The SEC said in a press release: "in this new advisory position, Szczepanik will coordinate the CSRC departments in the United States securities laws applicable to emerging digital assets technology and innovation (including first scrip sale and encryption currency) in action."
"I am pleased to play a new role in supporting the SEC in addressing digital assets and innovation," Szczepanik said in a statement.The SEC's mission is to promote capital formation, promote fair, orderly and efficient markets, and protect investors, especially ordinary investors.
Her appointment comes at a critical time for the securities and exchange commission's encryption efforts.Many of the agency's public actions have focused on alleged fraud and fraud, and officials have come out in favor of a more balanced approach to regulation.
Apple's co-founder agrees with bitcoin
Apple co-founder Steve Wozniak backed Jack Dorsey's call for bitcoin to become the world's single currency on the west coast.The former said in an interview with CNBC that bitcoin's mathematical nature and lack of human intervention are good reasons to include it.
"I believe what Jack Dorsey said," Steve Wozniak said, "not that I'm sure it's going to happen, but because I want it to happen. It's pure thinking."
That may come as a surprise when Steve Wozniak's bitcoin connection is mentioned.In February, he said seven bitcoins had been defrauded by an online fraudster who paid with a credit card but canceled payments shortly after the COINS were exchanged.At the time, the seven bitcoins were worth $70,000.