What happened in Crypto this week?
What happened in Crypto this week?
We had another busy week on the Krypto market: Bitcoin met 109,000 US Krypto will accept with clearer regulations, and Trump signs the executive order for the crypto working group.
Bitcoin costs 109,000 US dollars
Bitcoin reached a new all-time high of over $ 109,000 before Donald Trump's inauguration on Monday.
On January 20, Bitcoin reached a new one because the market mood about Trump's plans for the crypto industry is still optimistic. The youngest high exceeds its earlier record of over 108,000 US dollars that it achieved in December.
Trump also mentioned Bitcoin in a Sunday speech highlighting of his record since the US election.
"The stock market has been exceeded since the election and optimism for small businesses has a record of 41 points to a 39-year-old," said Trump. "Bitcoin broke one record high after the other."
Bitcoin has risen by almost 60% in the last 90 days and has a market capitalization value of 2.09 trillion dollars.
Trump and Melania Start Memecoins
Before Trump's inauguration on Monday, January 20, he -social platform.
Within 24 hours after the start, the meme token rose by 580% and exceeded 75 US dollars with a market capitalization of almost 6 billion US dollars.
to Trump, Melania Trump started her Memecoin, $ Melania last Sunday, in which the token reached a high of over $ 13.
At the time of publication, $ Trump and $ Melania are traded for more than $ 33 and 2.60, according to CoinmarketCap.
Elon Musks Doge Agency sued
The Doge agency of the Department of Government of Government (Elon Musk) allegedly submitted three lawsuits within minutes after Trump's inauguration.
In a 30-page lawsuit by the national security consultant, a law firm for public interests, she provides the legality of the agency that Trump would create Trump to "reduce the government's bureaucracy".
According to the complaint, Doge violates the law on the Federal Advisory Committee Act (FACA), according to which the advisory committees must comply with certain rules, including the permission of public participation.
National Security Advisor State that Doge meets the requirements in order to be regarded as a “Federal Advice Committee”. While similar agencies of a "rather balanced" representation follow, to make the records and allow the legally prescribed public participation, not.
The other two lawsuits were submitted by a group to which the American Federation of Government and the funds of the state defenders of democracy belong. In another case, the plaintiffs are the citizens for responsibility and ethics in Washington and in the American Federation of Teachers.
Nevertheless, the US government started the DogEky.
website the following daycircle acquires hashnote
StableCoin Emittent Circle acquired Hemhnote for an unnoted amount at the beginning of this week. As part of the acquisition, Circle plans to integrate usyc as security on the crypto exchange.
In a contribution to X Circle said that the move alongside a strategic partnership with DRW, a global trading company should redefine ”.
circle today the acquisition of Hashnote and usyc tokenized money market find.
This strategic step as well as a partnership with the global trading company DRW via @cumberlandsays Rel = "NOFOLLOW" TARGET = "_ blank" href = "https://twitter.com/cantonnetwork?ref_src=twsrc%5etfw"> @cantonnetwork should redefine the landscape ... pic.twitter.com/mb1nbr7x5f
- Kreis (@Circle) 21. January 2025
By integrating USDC, Circle's StableCoin and UsyC, the platform enables interconcectability between the two assets, so that usyc can be used as preferred collateral on stock exchanges and brokers.
Trump contested silk road creators Ross Ulbricht
Donald Trump signed an order and gave Ross Ulbricht, the founder of the Darknet Marketplace Silk Road, a full forgiveness of this week.
in a Post on his social platform writes his truth:
"I just called Ross William Ulbricht's mother to let her know that it was so much to me in honor of her and the libertarian movement, which was so happy that it was a pleasure for me to have just signed a complete and unconditional pardon of her son Ross."
The pardon takes place after Ulbricht spent 12 years in prison after his arrest in 2013. Ulbricht created Silk Road in 2011; However, he received two lifelong sentences plus 40 years in 2015. At the forgiveness of Ulbricht, Trump Ulbricht called punishment "ridiculous".
Taiwan consider to exhibit banks stable coins
The Taiwan financial supervisory authority is to propose laws that enable local banks to issue stable coins on the new Taiwan Dollar (NTD).
The draft law of the Financial Supervisory Commission (FSC) is expected to be introduced in June 2025. It should close the gap between fiat and digital currencies and improve the access of the investor to the burgeoning cryptoma market.
The proposal for banks to issue stablecoins is seen as a central step in this regulatory development and offers a more secure and more regulated environment for cryptocurrency transactions.
The FSC emphasizes that all the stable coins published in Taiwan are under the joint administration of the central bank to ensure their stability and legitimacy.
Zhuang Xiuyuan, director of a Taiwanese bank, has expressed concerns about existing stable coins such as Tether and USDC and criticized their support through non -governmental assets.
In order to address these problems, every new StableCoin in Taiwan requires express approval from the FSC to ensure that they meet certain qualifications in terms of credibility and reserve allocations of issuers.
banks will accept crypto with clearer regulations
The CEO of Bank of America has explained that US banks will accept crypto payments if the supervisory authorities are more clear rules.
Brian Moynihan said in the World Economic Forum and said that if rules are received and crypto payments are made "real", "the banking system will be hard on the transaction page".
So far, US banks have been careful when it came to offering crypto services in retail and instead concentrating on the provision of institutional products such as the US Spot Bitcoin Exchange Fund (ETFS).Trump signed executive order for the crypto working group
less than a week after entering the White House, Trump signed an executive order for a crypto working group that is supposed to ensure regulatory clarity.
When signing the order, Trump appeared with his AI and his crypto dared David Sacks, who spoke about order with the president. Sacks that will lead the working group when it is implemented said: "We will form an internal working group to make America into world capital under your leadership."
The working group not only ensures the clarity of regulatory clarity, but also tries to support the US dollar by developing stable coins in dollars. The working group also wants to prohibit the facility, output, distribution and use of A [Central Bank Digital Currency] within the responsibility of the United States. “
Source: Coinlist.me
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