More than 20 cryptocurrency companies have announced they are leaving China after the government cracked down on the industry on September 24. This new wave of sanctions paves the way for the US to gain the upper hand in this sector.
Royaltiz is a new branch of investing in the 21st century. A team of specialists has been working hard on a celebrity investing platform. This means that the full range of features is the same as a stock exchange, but you invest in people - not company stocks.
The Bitcoin (BTC) exchange rate has been on a positive run as the price broke out above the high of $48,000. Although buyers failed to sustain the bullish momentum above the $48,000 high, the BTC price fell back to support at $47,000.
One of the largest exchanges in the world has been in trouble a lot lately. Just recently, it had to deal with scrutiny over regulatory issues. Now their customers have been robbed of their money by a cyber attack.
Gary Gensler, the crypto-friendly chairman of the US Securities and Exchange Commission Exchange Commission (SEC), has expressed his support for cryptocurrency ETFs. However, he stressed that this was his personal opinion and had nothing to do with the regulator's plans to approve a proposal.
The scrutiny that US regulators are imposing on cryptocurrency companies seems to be becoming a trend. Kraken is the latest company to run into trouble. The exchange had to pay a $1.25 fine for alleged illegal activity.
Many cryptocurrency exchanges have had problems with financial regulators in different countries. Some of them have had to shut down or move their operations to other countries. Others have been forced to look for ways to deal with supervisors and improve compliance.