• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC
Bitcoinist.com
No Result
View All Result
Breaking News: Crypto Exchange Binance To Launch Prepaid Card In This South American Country
Bitcoin BTC BTCUSD
Advertisement

Biden Administration Drafting Bitcoin Regulation, Why It Could Be Approved Soon

Reynaldo Marquez by Reynaldo Marquez
2 years ago
in News
0
Advertisement

Fox News correspondent Charles Gasparino claimed via his Twitter handle that Joe Biden’s administration is currently working on a “regulatory approach” to Bitcoin, cryptocurrencies, and the crypto industry in general.

Citing Wall Street executives close to the Biden administration, Gasparino clarified that the new regulations are in an early stage. Deputy Treasury Secretary Wally Adeyemo will apparently have a major role in the crypto regulatory framework to be headed by Secretary of the Treasury Janet Yellen.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.

As reported by Bitcoinist, on many occasions Yellen has issued negative comments on Bitcoin and cryptocurrencies due to their alleged primary use for “illegal activities”. Data from analytics firm Chainalysis offers a different perspective and concludes that less than 1% of BTC transactions can be attributed to “criminal use”.

BREAKING — @JoeBiden Admin is in the early stages of developing a regulatory approach to the booming crypto biz, sources tell @FoxBusiness. Will discuss w @LizClaman what's being kicked around re regulation, @SEC_Enforcement activities and the possibility of a $BTC ETF

— Charles Gasparino (@CGasparino) April 19, 2021

Gensler Effect On Bitcoin New Regulation

The Fox News correspondent highlighted the role of recently appointed Securities and Exchange Commission (SEC) Chairman, Gary Gensler. Swear in office last Saturday, Gensler is apparently awaiting instructions from the office of the Treasury on the general policy to be implemented with a new regulatory framework.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

The Biden administration could be under a lot of pressure to approve a new regulation for the crypto market. The SEC alone has over 9 Bitcoin ETF petitions from different firms. Another point of pressure is found northern, Canada is consolidating its edge on this front; the country has already approved several Bitcoin and Ethereum ETFs.

There have been no official statements from the White House or the regulators. However, Gasparino claimed a new regulation could be approved in the coming four weeks. This could coincidence with the launch of the U.S. first Bitcoin ETF.

As Eric Balchunas, a senior ETF analyst for Bloomberg Intelligence said investment firm Grayscale became an equity owner of ClearShares. This company recently changed their Piton Intermediate Fixed Income ETF ticker from PIFI to BTC.

Balchunas speculated on the possibility Grayscale could use this ETF as a “host body” to convert their Grayscale Bitcoin Trust into a Bitcoin ETF. Since then, the premium for Clearshares ETF has skyrocketed with a 3x jump in Basis points (bps) and in trading volume, as shown in the image below.

Bitcoin BTC BTCUSD
Source: Eric Balchunas

Balchunas has reiterated several times that the conversion of Grayscale’s product is pure speculation. However, he added:

trying to think if there would be any reason for $GBTC investors to sell and buy $BTC ahead of all this, like some kind of front-running play but not sure how that would work. Anyway, the numbers are still too small to conclude much but def worth monitoring.

BTC is trading at $56.234 and has been moving sideways for the past 24 hours. In the weekly and monthly chart, BTC has 5.9% and 3.5% losses, respectively. News of a Bitcoin ETF launching in the United Stated could bring fresh capital to the crypto market. Therefore pushing BTC towards uncharted territory.

Bitcoin BTC BTCUSD
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Reynaldo Marquez

Reynaldo Marquez

Related Posts

Korean Financial Services Commission Chair Announces Security Tokens

Korean Financial Services Commission Chair Announces Security Tokens

2 weeks ago
DCG

Tron Founder Justin Sun Ready To Invest $1 Billion On DCG Assets

2 weeks ago
ETF

Samsung Unveils Bitcoin Futures ETF Amid Escalating Crypto Interest

3 weeks ago
Hong Kong Flag

Hong Kong to Limit Retail Investors’ Crypto Trading to Only ‘Highly Liquid’ Assets

3 weeks ago
Mango

CFTC Sues Trader Over Alleged Mango Markets Scam

3 weeks ago
FTX Exchange

Former FTX US President Harrison To Share Information About The Exchange

3 weeks ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • California DMV Puts Car Titles On Tezos (XTZ) Blockchain...

    49 mins ago
  • Bitcoin Cash (BCH) Associates With TREZOR Wallet, Litecoin...

    53 mins ago
  • Avalanche (AVAX) price rally stalls, Polkadot (DOT) was #1...

    1 hour ago
  • Orbeon Protocol And VeChain Seek To Impact The Real World...

    2 hours ago
  • Meta Masters Guild Presale Raises Over $2m Ahead of Stage 5...

    4 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Bet & win BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.