The company that creates business software, MicroStrategy, announced that it will dedicate itself to the development of Bitcoin. Michael Saylor, executive president of the firm, confirmed that they are doing everything necessary to “grow the Bitcoin network.”

MicroStrategy has been the talk of the crypto industry for its holding of BTC, which has reached 190,000 Bitcoins. However, now the company takes a more significant step by betting on the development of the most important cryptocurrency on the market.

Saylor’s announcement details that they have plans to “create tools, applications and programs for the most important cryptocurrency.”

To its current product portfolio, MicroStrategy will add Bitcoin software development. Likewise, they will be dedicated to creating applications that increase the value of the Bitcoin network, “whether working on the main chain or second layer solutions, such as the Lightning network.”

M.Pino

Source: ambito

(Reference image source: Dmytro Demidko en Unsplash)

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La entrada MicroStrategy announced that it will dedicate itself to the development of Bitcoin apareció primero en Bitfinance.

The state of California recently approved the bill AB-2269, with which it intends to regulate everything related to economic activity and transactions with cryptocurrencies.

Assemblyman Tim Grayson has been in charge of submitting the bill, which is part of the regulatory framework for crypto companies in the state. In said project, crucial aspects are taken into account, such as “legal gaps and establishes regulations to recognize cryptocurrencies and their industry.”

Another issue that the project also focuses on is the granting of the corresponding licenses for digital currency transactions to Californian companies. The regulation is part of California’s push for Web3, digital innovation and development.

The project approved by the California Assembly must now be analyzed by the entity’s governor, Gavin Newson, who is an open bitcoin enthusiast. In any case, it will be necessary to wait until January 2025. Until that date arrives, crypto companies will need a permit or license from the Department of Financial Protection and Innovation, so that their activities can be considered legal.

The creation of a clear and friendly regulatory framework is one of California’s priorities, in order to provide security and support to companies in the crypto market.

M.Pino

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Source: bit2me

La entrada California passes law favoring cryptocurrency companies apareció primero en Bitfinance.

Bitcoin, the cryptocurrency with the largest market capitalization, has registered losses for seven consecutive weeks, which has become a new historical record for the cryptocurrency in the midst of an increasingly complex market due to the strict regulations that some have been taking. countries and “systemic risks in the crypto sector”

The value of the currency registered a minimum of 24,000 dollars in the midst of a significant market decline and where “the stable currency (USDT) briefly lost its parity with the US dollar” in the midst of the catastrophe suffered by “LUNA from Terra and its stablecoin terraUSD (UST).”

In November 2021, Bitcoin reached historical highs of almost 69,000 dollars, reversing its value. Later in mid-March, it experienced another growth for 2 weeks, to reach $47,000.

Then it presented another fall that placed it at $37,000 and since then the coin has been experiencing a weekly decline and some analysts believe that it could reach $20,000 if market conditions continue.

Alex Kuptsikevich, market analyst at FxPro, believes that the trend of selling digital currencies in bullish currents will continue. “We expect the bears to not loosen their grip in the coming weeks. In our opinion, there may not be a change in sentiment until it approaches the 2018 highs area near $19,600,” the analyst said.

Impact of inflation on bitcoin

The world’s largest cryptocurrency was held for a long time as an option for citizens to protect themselves from inflation because “it was an investment that protects against the decline in the purchasing power of currencies or other assets.” However, the behavior of the currency has shown that it is closely related “to global markets and has traded similarly to risky technology stocks.”

For some analysts, the trend of inflation has impacted the behavior and decline of Bitcoin in recent weeks. Lloyd Blankfein, former CEO of Goldman Sachs, noted that the US economy is at risk and that environment could impact cryptocurrency and “trigger more sell-offs in the coming weeks if the current correlation continues.”

M. Rodríguez

Source: laverdadnoticias.com

La entrada Bitcoin recorded seven consecutive weeks of losses apareció primero en Bitfinance.

US President Joe Biden will probably sign a long-awaited executive order during the week aimed at promoting the regulation of cryptocurrencies in the country, according to information published by specialized sources.

The information from Bloomberg and Reuters refers to the statements offered by officials of the Biden administration who asked not to be identified, but admitted that the president “would sign an order that will describe the US government’s strategy for cryptocurrencies”.

The legal norm will ask federal agencies to evaluate possible regulatory changes, in addition to analyzing the “national security and economic impact of digital assets”. It is assumed that the order “could centralize all powers of regulatory supervision in a single entity”. However, the scope or what such an executive order would actually mean is unclear.

Crypto market under scrutiny

A regulation of cryptocurrencies has been developing in the US for a long time, but in recent days it has again aroused interest due to the sanctions that the US government together with its allies imposed on Russia for the invasion of Ukraine, generating the concern of some organizations and individuals that Russia could try to “use cryptocurrencies to evade restrictions”.

Acting Director of the Treasury Financial Crimes Enforcement Network, Him Das, noted: “Although we have not seen widespread evasion of our sanctions using methods such as cryptocurrencies, prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people.”

The crypto industry is currently facing intense scrutiny from lawmakers and “Senate Banking Committee Chairman Sherrod Brown over concerns that digital assets could be used to circumvent sanctions.”

On the other hand, the Joe Biden Administration is “under pressure” because industry executives consider that there are no clear rules that regulate the industry and it is urgent that the state assume “a more coordinating role on this asset class.”

M. Rodríguez

Source: diariobitcoin.com

La entrada Joe Biden could sign executive order on cryptocurrencies apareció primero en Bitfinance.

Crypto Council for Innovation (CCI) is the name of the new organization introduced in the cryptographic market, led by experts in cryptocurrencies, with the main objective of educating society about the potential of digital currencies and the contributions that can be offered from this area to generate positive changes to the ecosystem.

The launch of the project was announced on April 6, suggested by Paradigm and promoted by companies at the level of Coinbase. The intention is to promote the development of digital currencies with the support of leaders in the crypto industry and achieve “to unlock the transformative promise of crypto.”

Among the strategies proposed, many experts in the organization coincide in supporting governments and institutions around the world by informing them and encouraging them to create responsible policies related to cryptography.

The information will be disseminated through a curriculum consisting of workshops, studies and other activities in order to demonstrate the advantages of crypto and cryptocurrencies.

ITC aims to impact the global economy by helping regulators, legislators and individuals throughout the world. For this, agreements have been established with companies such as Coinbase, Square Inc or Fidelity Digital Assets.

K.Villarroel

Source: bitcoin

La entrada Crypto Council, the new project led by experts in cryptography apareció primero en Bitfinance.