The Bitcoin course is rowing downwards with a kink, while new stable coins are coming out of New York. Meanwhile there are big movements from an unknown wallet. The regulatory authorities are increasingly letting their heads smoke, while one thing seems to be missing from the market: stability. The situation on Wednesday.
There’s a lot going on in the Bitcoin universe right now. At the moment it’s probably the Bitcoin 1933p Wallet that’s making big waves. Whether Mt.Gox, Dread Pirate Roberts or other twilights are behind it – the influence on the Bitcoin course can hardly be denied. Suddenly thousands of coins are thrown onto the market and before you know it, the price slides down.
Bitcoin news are showing its most volatile side, one can hardly speak of stability these days
And this despite the fact that the watchdogs from the USA never tire of throwing new stable coins onto the market from their financial towers. While the authorities still find it difficult to allow ETN, ETF and other financial Bitcoin news to enter the market, stable coins seem to slide more easily through the administrative mills. It is always the same arguments that argue against the approval of financial products, but do not seem to apply to the coins linked to the fiat currency. Money laundering, the financing of terrorism and the like – it sometimes seems – are new phenomena that the crypto market brings with it. Read this: https://www.forexaktuell.com/en/bitcoin-news-trader-scam/
Rethinking takes time
Here, however, a rethinking is taking place, albeit slowly. For example, a working group of the US Congress recognized that Bitcoin was hardly used to finance terrorism. Even in the highest regulatory authority, a delicate seedling of hope is germinating. There it is the new SEC commissioner Elad Roismann, who is supposed to provide a breath of fresh air for the SEC. This, the Bitcoin advocates hope, will put the ecosystem back on a somewhat safer footing.
Similar hopes are also raised at the last meeting of finance ministers in Vienna. Whether stable or not, the ministers have recognised that crypto currencies have come to stay. That is why the leadership wants to take a closer look at this new asset class and provide more clarity. Until the end of the year one wants to work on a framework, in order to be able to classify and categorize crypto currencies and ICOs better. To this end, they want to work together on a European level.
And Bitcoin formula?
Of course, the question arises whether the Bitcoin formula will settle down by itself by then. If you look at China, you will see that the crypto market seems to be making its way despite bans and regulatory straitjackets. The stock exchanges in the Middle Kingdom are constantly offering new opportunities to find loopholes in the law or to remain undiscovered. If one compares the regulatory mills with the advances in Bitcoin formula, the question of who is currently leading the race hardly arises.
So one can confidently turn one’s gaze away from the course and remember Satoshi Nakamoto’s vision: to build a monetary system based on technology instead of institutions. And Bitcoin is quite stable in this respect.