Bitcoin, the world’s most valuable and well-known cryptocurrency, has once again seen a significant increase in value, surpassing the $24,000 mark for the first time in its history. The recent surge in the value of bitcoin has caught the attention of investors and traders around the world, and many are now wondering where the next target for BTC could be.
SEC’s Crypto Asset Examination Is Heating Up The Radar: What To Expect In 2023
US Securities and Exchange Commission (SEC) recently reaffirmed its commitment to protecting investors and ensuring compliance with federal securities laws and regulations. In its list of examination priorities released on February 7, 2023, the SEC identified “emerging technologies and crypto-assets” as key areas of focus for the year. This focus will be directed primarily toward broker-dealers and registered investment advisors (RIAs) who use such technologies.
On February 9, 2023, the SEC charged Payward Ventures Inc, which operates as Kraken, with failing to register their crypto-asset service offering and sale. As part of the settlement, Kraken paid a fine of US$30 million and ceased offering its crypto asset staking services to US customers.
SEC Chairman Gary Gensler stressed the need for intermediaries to provide the proper disclosures and safeguards required by securities laws when offering investment contracts to investors in exchange for tokens, whether in the form of a service, lending or otherwise. be through mediums
Kraken is not the only crypto company that has faced SEC enforcement action. In January 2023, the SEC fined Nexo Capital Inc. US$22.5 million for failing to register its crypto lending product with US investors. Nexo also agreed to stop offering its crypto asset lending product.
These enforcement actions underscore the SEC’s growing scrutiny of the crypto industry, which aims to ensure that investors are adequately protected and that market participants comply with securities laws and regulations.
As the regulatory framework continues to evolve, it is important for companies operating in the crypto industry to stay vigilant and informed about the latest regulatory developments in order to avoid potential penalties and reputational damage.
Bahrain’s Major Hotel Now Accepts Bitcoin: A Milestone for Crypto Adoption in the Arab World
Novotel Bahrain Al Dana Resort has reportedly set a pioneering benchmark in the hospitality sector within the country by embracing cryptocurrencies as a viable form of remuneration. This recent maneuver towards digitizing monetary assets has been echoed by several other hotels that are located on the Arabian Peninsula, including W Dubai – The Palm and Palazzo Versace Dubai, which have followed suit in recent months.
according to recent reportsNovotel Bahrain Al Dana Resort has teamed up with Easy Financial Services to allow guests to pay for their accommodation expenses with cryptocurrencies. The hotel plans to install bespoke terminals in its outlets to facilitate this offering through the Binance application.
This strategic move has been authorized by the Central Bank of Bahrain, making Novotel Bahrain Al Dana Resort the first hotel in the Kingdom to use this payment method. General Manager, Amid Yazzi expressed his enthusiasm in the following statement:
“Staying up-to-date with the developments in technology and our continued commitment to provide the best service level to our esteemed guests, we are excited to announce that we are the inaugural hotel in the Kingdom of Bahrain and the region to introduce cutting edge – Advancing digital payment technologies through our partnership with Easy Financial Services.”
As more and more people continue to adopt cryptocurrencies, the prices of popular digital assets including bitcoin and other altcoins are gaining traction and support.
bitcoin price
Bitcoin It is currently trading at $24,600 with a 24-hour trading volume of $38B and an increase of 3% in the last 24-hours.
Bitcoin experienced an uptrend after finding support at the 50% Fibonacci retracement level, which was located at $23,325. The closing of a recent candle above this mark has triggered a buying trend in the market and has strengthened the positive market sentiment.
Looking ahead, the next hurdle for bitcoin lies at $25,300. If there is a bullish crossover above this level, it could propel BTC price towards $26,000.
The 50-day moving average also supports the possibility of a continued uptrend in bitcoin. Investors interested in cashing in on this trend can keep an eye on the $24,250 level as a potential entry point for long positions in bitcoin.
bitcoin options
Cryptonews has released a comprehensive review of the top 15 cryptocurrencies investors should consider for 2023. The purpose of the report is to assist investors in making informed investment decisions.
Along with cryptocurrencies, there are other investment options with the potential for higher returns that investors may want to explore.
Disclaimer: The Industry Talks section features insights by crypto industry players and is not part of the editorial content of 0x0news.com.
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