Ethereum spot ETFs in the #UnitedStates saw their biggest inflows in six weeks as crypto markets rallied following the U.S. presidential election.

Nine newly launched Ethereum($ETH
spot ETFs saw a net combined inflow of $52.3 million on Nov. 6.

While that was only a fraction of the inflows for Bitcoin spot ETFs, it was the highest for Ether funds since Sept. 27, according to Farside Investors.

The big inflows came despite BlackRock’s flagship iShares Ethereum Trust seeing net zero inflows.

Most of the inflows came from the Fidelity Ethereum Fund, which attracted $26.9 million. The rest of the funds went to the #GRAYSCALE Ethereum Mini Trust, which had $25.4 million. The remaining seven spot Ether ETFs had zero flows.

This brings the overall net aggregate across all products to negative $490 million due to continued outflows from the high-fee Grayscale ETHE fund, which has lost $3.1 billion in assets under management since converting to a spot ETF in July.

Spot Bitcoin ETFs saw $622 million in inflows

Meanwhile, the 11 U.S. spot #Bitcoin❗ $BTC
ETFs outperformed, recording net inflows of $621.9 million on November 6, reversing a trend of three consecutive trading days of outflows.

This came despite the BlackRocks iShares Bitcoin Trust experiencing a second straight day of outflows, losing $69.1 million, according to preliminary data from Farside Investors. It was BlackRock’s biggest day of volume ever, with $4.1 billion in trading volume.

The inflow was led by the Fidelity Wise Origin Bitcoin Fund, which saw a whopping $308.8 million in inflows, its largest since June 4.

Bitwise, Ark 21Shares, and Grayscale all saw over $100 million in inflows for their products.

Cryptocurrency spot markets are up 4% in the last 24 hours, bringing the total market cap to $2.64 trillion, as Bitcoin hit another all-time high above $76,000 at the end of trading on November 6.

Ethereum woke up from its slumber, up 10% on the day to hit an intraday high of $2,872 at the start of trading on November 7, its highest price since early August, according to CoinGecko.
#AltCoinSeason

Some countries are aiming to establish digital currencies as primary financial tools in the global economy, with the United States possibly emerging as the "digital currency capital" under Trump. If Trump were to push for the creation of a "strategic Bitcoin reserve," this decision would have profound impacts on the global economy, affecting both the traditional financial system and the performance of national currencies.
What Does it Mean for the United States to Become the Digital Currency Capital?
If the United States becomes the global hub for digital currencies, it would be the central force determining the foundational elements that drive the market value of cryptocurrencies like Bitcoin and Ethereum. This would position the U.S. to dominate the future of digital finance through new regulatory frameworks that support cutting-edge financial technologies.
The Concept of a Bitcoin Strategic Reserve:
The idea of a Bitcoin reserve follows a strategy similar to that of countries managing their gold reserves. This reserve would serve as an "economic safeguard" to protect the U.S. economy in times of financial crises. By establishing this reserve, Trump could stabilize the U.S. financial system and reduce the impacts of cryptocurrency market fluctuations.
Economic and Political Impacts:
If this initiative were realized, the United States would become the leading power in the cryptocurrency space, which would directly impact the market value of Bitcoin and other cryptocurrencies. This shift could reduce the global reliance on the U.S. dollar, posing new challenges to central banks worldwide.
Politically, this transition would mark a significant shift in the global financial system, prompting other governments to adopt or create new policies to deal with digital currencies. This could result in negotiations or confrontations between major countries like China and the European Union.
Challenges Trump May Face:
Although the creation of a Bitcoin reserve could be a monumental strategic move, it is not without its challenges. First, the volatility of Bitcoin prices presents a significant hurdle, as sharp fluctuations could cause economic damage if not carefully managed. Additionally, there are political and regulatory challenges regarding how digital currencies will integrate with traditional financial systems.

Sources:
1. Bitcoin Magazine - Cynthia Lummis and Bitcoin
2. Forbes - Trump and Bitcoin
3. Bloomberg - US Crypto Regulations
#UnitedStates #bitcoin☀️ #digitalcurrency #InflationNews #StrategicReserve

- Janet Yellen advocates for tighter regulations on cryptocurrencies.
- She attributes the need for stricter measures to the volatility in crypto prices and other vulnerabilities.
- Yellen specifically references FTX as an example to underscore her point.
- The Treasury Secretary emphasizes the importance of addressing risks associated with cryptocurrencies through regulatory means.
- Yellen's stance reflects growing concerns within the government regarding the crypto market's impact on financial stability.

Alongside Gary Gensler, Janet Yellen has pivoted from her previous anti-crypto stance to advocate for tighter regulations within the industry. Speaking before the U.S. House Committee on Financial Services, Yellen expressed concerns regarding the vulnerability and price volatility inherent in crypto assets. As a representative of the US Treasury, she highlighted the failure of crypto companies to adhere to traditional regulations, underscoring the need for new legislation.
However, Yellen's call for stricter laws extends beyond the immediate concerns within the crypto markets. The precarious state of the US economy, characterized by high debt and inflation, presents a pressing risk of currency abandonment. With the national debt surpassing GDP and reaching $34 trillion, fears of economic instability akin to the stagflation of the 1970s loom large. Any disruption, such as a bank run or a shift in sentiment favoring crypto, could erode the dominance of the US Dollar.
Yellen's stance is further influenced by past events, notably the collapse of FTX, which incurred $8 billion in losses due to non-compliance. This incident spurred Yellen to advocate for stringent regulations to prevent similar catastrophes in the future. Moreover, Yellen acknowledges the futility of outright bans on cryptocurrencies, as evidenced by China's persistent crypto transactions despite regulatory crackdowns. Hence, she has consistently pushed for a unified global approach to crypto regulation, echoing sentiments expressed at the G20 Meet in India in 2023.
It's important to note that while Voice of Crypto aims to provide accurate information, readers are encouraged to conduct their own research and exercise caution due to the volatile nature of cryptocurrencies.

#cryptocurrency #UnitedStates #CryptoUS #Crypto2024

Cryptocurrency has officially entered the mainstream political arena, becoming a key issue in U.S. elections. With the growing influence of digital assets like Bitcoin and Ethereum, Wall Street is paying close attention to how political leaders will shape the future of the industry. While there’s consensus that crypto is a significant election issue, opinions are divided on which candidates or parties are best suited to support the burgeoning sector.

The Rise of Crypto as a Political Force 🚀

Cryptocurrency and blockchain technology have evolved from niche interests to major players in the global financial system. As these technologies continue to grow, they bring with them pressing questions about regulation, taxation, and innovation. For many voters, especially those involved in or supportive of the crypto industry, these issues are now top priorities.

The recognition of crypto as an election issue signals its importance in shaping future policies that could either bolster or hinder the industry's growth. 💡

Wall Street’s Split on the Best Path Forward ⚖️

Though Wall Street agrees that cryptocurrency is a critical election issue, there’s no clear consensus on which political figures or parties would best serve the industry’s interests. This division primarily revolves around different views on regulation versus market freedom.

- Pro-Regulation Advocates: Some on Wall Street believe that a well-defined regulatory framework would bring much-needed legitimacy to the crypto markets. By reducing volatility and establishing clear rules, they argue that regulation could attract more institutional investors and stabilize the industry. This camp might support candidates who favor more comprehensive and predictable regulations for cryptocurrencies. 🏦

- Pro-Market Freedom Supporters: On the other hand, many believe that excessive regulation could stifle innovation and hinder the natural growth of the crypto sector. They argue that the industry should be allowed to evolve organically with minimal government interference. These individuals are likely to back candidates who advocate for a hands-off approach, giving the crypto market the freedom to develop without restrictive regulations. 🛡️

The Stakes in the Upcoming Elections 🎯

The outcome of the upcoming elections could significantly impact the future of cryptocurrency in the United States. Whether through stringent regulations or a more laissez-faire approach, the policies shaped by elected officials will influence everything from how cryptocurrencies are taxed to how they are integrated into the broader financial system.

For Wall Street and the crypto industry, these elections are more than just about politics—they’re about the future of a financial revolution. The right regulatory environment could foster innovation and growth, while the wrong one could place heavy burdens on this emerging sector. 📊

Conclusion 🌟

As cryptocurrency continues to gain prominence, it has become clear that it’s no longer a niche issue but a central topic in the political landscape. Wall Street’s divided views on how best to support the industry underscore the complexity of integrating such a disruptive technology into the established financial system. With the upcoming elections poised to play a crucial role in determining the future of crypto, both the industry and its supporters will be watching closely.

The stakes are high, and the decisions made in the political arena could either pave the way for crypto’s continued growth or set up roadblocks that could stymie its progress. 🛣️
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👇👇👇
$BTC
👇👇👇
$BNB
👇👇👇
$BCH
#UnitedStates #usa #Wallstreet #LowestCPI2021 #SuperMacho

The marketing and selling of crypto assets are subject to a complex web of legal and regulatory restrictions that vary significantly by jurisdiction. Understanding these restrictions, potential exemptions, and additional considerations is essential for businesses operating in the crypto space.
Legal and Regulatory Restrictions
United StatesSecurities Laws: The U.S. Securities and Exchange Commission (SEC) mandates that crypto assets classified as securities must comply with the Securities Act of 1933 and the Securities Exchange Act of 1934. This includes registration, disclosure, and reporting requirements. Failure to comply can result in enforcement actions.Commodity Regulations: The Commodity Futures Trading Commission (CFTC) regulates crypto assets considered commodities. Derivatives and futures trading involving crypto assets must adhere to the Commodity Exchange Act.Advertising Restrictions: The Federal Trade Commission (FTC) enforces regulations on advertising, requiring truthful and non-deceptive marketing practices. Crypto-related advertisements must not make false claims or mislead consumers.State Regulations: Individual states have their own regulations. For instance, New York's BitLicense requires crypto businesses to obtain a license to operate.European UnionMiFID II: The Markets in Financial Instruments Directive II (MiFID II) applies to crypto assets classified as financial instruments. This directive imposes transparency, reporting, and conduct requirements on marketing and selling these assets.AML Directives: The 5th and 6th Anti-Money Laundering Directives (AMLD5 and AMLD6) require crypto exchanges and wallet providers to implement robust AML and KYC measures. Marketing materials must also adhere to these standards.General Data Protection Regulation (GDPR): Companies must comply with GDPR when handling personal data of EU citizens, including in marketing activities. This includes obtaining explicit consent for data collection and ensuring data protection.United KingdomFinancial Promotions: The Financial Conduct Authority (FCA) regulates financial promotions, including those related to crypto assets. Promotions must be fair, clear, and not misleading.AML and KYC: Similar to the EU, the UK requires compliance with stringent AML and KYC regulations under the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations 2017.Advertising Standards: The Advertising Standards Authority (ASA) oversees advertising practices, ensuring that crypto-related ads do not mislead consumers.JapanFSA Regulations: The Financial Services Agency (FSA) requires crypto exchanges to register and comply with the Payment Services Act and the Financial Instruments and Exchange Act. Marketing materials must be accurate and not deceptive.AML and KYC: Exchanges must implement stringent AML and KYC measures, ensuring transparency in marketing and sales activities.SingaporeMAS Guidelines: The Monetary Authority of Singapore (MAS) provides clear guidelines on marketing and selling digital payment tokens. Businesses must adhere to the Payment Services Act and MAS’s AML and CFT requirements.Advertising Practices: The Advertising Standards Authority of Singapore (ASAS) enforces standards to ensure advertising is not misleading.
Potential Exemptions or Exclusions
Private PlacementsIn many jurisdictions, private placements are exempt from full registration requirements. These involve selling securities to a limited number of sophisticated investors rather than the general public.Regulation D (U.S.): Under Regulation D, offerings to accredited investors may be exempt from SEC registration, though specific disclosure requirements still apply.Utility TokensSome jurisdictions distinguish between security tokens and utility tokens, the latter of which may be excluded from securities regulations if they function solely as access to a platform or service and do not offer investment returns.Small OfferingsRegulation Crowdfunding (U.S.): Allows small-scale offerings to raise limited amounts of capital from a large number of investors with simplified regulatory requirements.Prospectus Exemptions (EU): Small offerings below certain thresholds may be exempt from the requirement to publish a detailed prospectus.
Additional Considerations
International ComplianceCompanies operating across multiple jurisdictions must navigate a patchwork of regulations, ensuring compliance with local laws in each market. This can involve understanding the nuances of each country's legal framework and seeking local legal advice.Consumer ProtectionRegulators focus heavily on protecting consumers from fraud and ensuring transparency in marketing practices. Businesses must be vigilant in providing clear, accurate information and avoiding misleading claims.Technological DevelopmentsThe rapidly evolving nature of blockchain technology means that regulations are continually adapting. Companies must stay informed about regulatory updates and be prepared to adjust their practices accordingly.Regulatory SandboxesSome jurisdictions offer regulatory sandboxes that allow companies to test new products and services in a controlled environment with regulatory oversight. This can provide a pathway for innovative businesses to navigate regulatory challenges while ensuring compliance.
Conclusion
The legal and regulatory landscape for marketing and selling crypto assets is complex and varies significantly across jurisdictions. Businesses must navigate a myriad of regulations, from securities laws and AML requirements to advertising standards. Understanding potential exemptions and exclusions, such as private placements and utility tokens, can provide pathways to compliance. As the regulatory environment continues to evolve, staying informed and adaptable is crucial for success in the dynamic crypto market.
#UnitedStates #unitedkindom #Singapore #japan #swizerland $BTC $ETH $BNB

U.S. authorities are cracking down on crypto scammers by turning their own tactics against them. For the first time, the Federal Bureau of Investigation has disclosed that it created a cryptocurrency to bait and capture fraudsters.
The FBI claims the strategy worked, spurring market-manipulation and fraud charges against several crypto companies, including Gotbit, CLS Global, MyTrade, and ZM Quant, as well as 18 individuals. The agency says it seized more than $25 million in crypto, and several trading bots that were allegedly manipulating around 60 cryptocurrencies were shut down.
“What the FBI uncovered in this case is essentially a new twist to old-school financial crime,” said Jodi Cohen, the special agent in charge of the FBI’s Boston division.
As part of “Operation Token Mirrors,” the FBI created an Ethereum-based (ETH) cryptocurrency called NexFundAI Token to target fraudulent token developers, promoters, and market makers. The defendants allegedly lured investors with false claims and engaged in wash trading, a deceptive practice where trades are made to create the illusion of heightened market activity and demand. The manipulation inflated token prices, allowing the scammers to sell their holdings at artificially elevated prices. These market manipulators were unaware that the FBI created the token as part of the sting operation.
“This investigation, the first of its kind, identified numerous fraudsters in the cryptocurrency industry. Wash trading has long been outlawed in the financial markets, and cryptocurrency is no exception,” said Acting U.S. Attorney Joshua Levy. The news comes more than two years after the FBI announced the formation of a cryptocurrency unit within the agency.
The Securities & Exchange Commission has also filed civil complaints against Gotbit, CLS, ZM Quant, Saitama, and other companies, accusing them of securities law violations. NexFundAI token trading has been disabled, but its price was up by over 1,558% when fraudsters were active.
#scammers #FBI #UnitedStates
Crypto shark 🦈 

The #hashrate of fourteen mining companies with a listing in the #UnitedStates in October reached 28.9% of the total. Such data were cited in #JPMorgan , writes CoinDesk.

Since the beginning of the year, the firms tracked by the bank have increased the metric by ~70% year-over-year, from 114 EH/s to 194 EH/s, while total computing capacity has grown by ~33%.

Since halving, firms' share has increased by 8%, reflecting their “efficiency and financial strength”.

Hashrate is estimated to be up 4% since the beginning of October, while hashprices are up less than 1%.

The capitalization of tracked miners has increased by 7% over this period, exceeding their share of the block reward by 1.9 times (the minimum since May). This implies an “attractive entry point before the election,” according to analysts.

Recall, in JPMorgan allowed a slowdown in the growth of #bitcoin☀️ $BTC
hashrate.

Earlier in Matrixport pointed to the potential of shares of miners in view of the stabilization of the fall in their income and lagging behind the dynamics of the first cryptocurrency.
#UptoberBTC70K?