While the pressure is coming from one side, a breakthrough may come from the other side, amid the pressure on cryptocurrencies in the United States. Days ago, hedge fund manager Bridgewater Associates billionaire Ray Dalio said there was a good possibility that the US government could ban Bitcoin just as it did with the gold ownership in the 1930s. Yesterday, the American papers and exchanges launched a new attack on cryptocurrencies, which may threaten the cryptocurrency industry in the United States of America and perhaps abroad. The Securities and Exchange Commission alleged that the Libre program sold unregistered protection via multiple systems including institutional investors and program users within 2016/2020.
Hours ago, the US-based digital marathon cryptocurrency miner said it would launch the first North American bitcoin mining pool fully compliant with US regulations. Following the Marathon Declaration, the consortium adheres to the American Anti-Money Laundering Guidelines and Rules established by the Office of Foreign Assets Control (OFAC). Marathon will ensure that the transactions processed by his group meet regulatory standards using exclusively licensed technology from the dmgblockchain allowing for conversions to be filtered. The company will start transferring all transactions to the new group as of early May. Marathon aims to avoid transactions executed by individuals on the US Treasury's blacklisted blacklist, as its operations are fully regulatory-compliant. US Treasury Secretary Janet Yellen said earlier that cryptocurrencies fuel money laundering, extremists, and terrorist operations.
The Chicago Mercantile Exchange said there are plans to launch a new bitcoin derivative product that will enable traders to speculate on fractional units of the main digital currency.
The value of the Chicago Mercantile Exchange's micro-bitcoin futures contract, which is scheduled to launch on May 3, will await regulatory approval. The Chicago Mercantile Exchange said that the smaller contract size of 0.1 BTC provides market participants with an additional tool to hedge bitcoin price risks. The Chicago Stock Exchange Group's global head of equities and alternative investment products index says the introduction of micro-bitcoin futures contracts directly responds to demand smaller contracts from a wide range of clients. Tim McCourt added, and it will provide more options and precision in how participants trade in Bitcoin futures contracts regulated transparently and efficiently at the CME Group.
During those moments, the major cryptocurrencies retreated and fell in the formation of about 1% to the levels of 58.5 thousand dollars, and for the same, Ethereum fell to the levels of 1.92 thousand dollars. While Ripple declined by about 1.3% to levels of $ 0.558, and it decreased in cash by about 0.3%, down to levels of $ 533.
"Goldman is looking to offer a full range of investments in bitcoin and digital assets," said Mary Rich, who was recently appointed as global head of digital assets for Goldman's private wealth management division. Mary Rich added that this will come, whether through physical bitcoin, derivatives, or traditional investment tools, to meet the increasing demands of currencies to invest in cryptocurrencies. Morgan Stanley (NYSE: MS) in mid-March told its financial advisors that it would allow investment in three funds that allow ownership of bitcoin, and this came after clients requested exposure to the cryptocurrency.
The article does not express a recommendation or a nomination, but rather monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the purchase amount, seeing that they are not entirely subject to financial professionals and markets.