Here is what happened yesterday in the crypto market:
SEC’s New Steps for Crypto Regulation
The SEC is poised to take immediate actions to adapt its regulatory framework to the evolving crypto landscape, including six proposed measures to bring better oversight to the crypto market.
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Market Update: Retail Demand vs. Institutional Activity
Despite some weakness in crypto markets, retail demand is providing a firm underpinning. Cryptocurrencies like Bitcoin are experiencing fluctuations as the CME challenges reports regarding institutional activities.
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SEC Withdraws Crypto Tax Accounting Bulletin
In a significant shift, the SEC has rescinded an accounting bulletin that previously set rules for financial firms wishing to hold crypto, affecting future compliance and reporting practices.
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Trump’s Executive Order on Crypto
President Trump has issued an executive order aimed at fostering a supportive environment for digital asset businesses in the U.S., indicating a keen interest in regulating the crypto space more favorably.
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Bitcoin’s Bullish Outlook
According to Deutsche Bank, Bitcoin’s price is expected to remain elevated throughout 2025, thanks to ongoing support from presidential backing for digital assets, suggesting optimism in the market’s trajectory.
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