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Investing.com – Long under pressure from centralizers and regulators in the United States, China and elsewhere, he did not miss an opportunity to capitalize on even a temporary victory.
After blocking passage of an amendment to impose additional taxes on workers in the crypto industry, digital currencies led by the number one currency seized the opportunity, hovering above 46,000 levels.
The rise of the market has been bolstered by the acceleration of institutional acceptance of cryptocurrencies and the formal adoption of the currency digitization policy in governments, as Jamaica joined the ranks of countries adopting a digital currency a few hours ago.
$ 28 billion
On July 29, provisions were hastily added to an infrastructure bill that aimed to raise $ 28 billion by raising taxes and imposing strict third-party reporting requirements on any entity (SE: ) deemed to have a cryptocurrency “broker”.
The changes to the clause have sent shockwaves through the crypto community, as developers, hardware wallet providers, miners, and other network auditors are likely to be classified as intermediaries and required to report information on counterpart network participants that they cannot collect.
Yesterday, the US stimulus package on a trillion-dollar infrastructure plan was passed without changing the controversial clause, which some saw as a victory, albeit a temporary one, for crypto.
Senator Richard Shelby said via Twitter that he was endorsed by Senators Pat Tomey, Cynthia Loomis, Rob Portman, Mark Warner, Ron Wyden and Kirsten Sinema, who allegedly exempted software developers, transaction auditors and operators contractual third parties. – Obligations of declaration by a party.
However, Richard Shelby, the 87-year-old Republican senator whose sole objection led to the passage of the partisan Senate infrastructure bill without amendment on August 10, does indeed support the changes to the provisions of the crypto law. -currency that his vote ultimately blocked.
Bitcoin
Bitcoin has now risen during trading today, Wednesday, to its highest level since mid-May, approaching levels of $ 47 thousand, and it is trading with a 2% increase to levels of 46. , 5 thousand dollars.
Bitcoin’s market value jumped to levels of $ 875 billion, an increase of about $ 40 billion, as the currency increased its gains for 7 sessions to almost 23%.
Marlet
Altcoins have succeeded in inspiring Bitcoin’s success, bringing the market value of the crypto complex back to pre-crash levels at the end of May, approaching levels of $ 2,000 billion. Ethereum, the second largest digital currency, rose 3% to $ 3.2 thousand, while its market value hit $ 380 billion.
Binance Coin has returned to overtake Tether stablecoin, to come in third in terms of market cap, after registering increases of around 10%, and it is trading at levels of $ 390. As Cardano jumped more than 20% to surpass in terms of market value and recorded levels of $ 57 billion, becoming the fifth digital currency.
Catalysts
The crypto market has seen several catalysts over the past few days; The Goldman Sachs-backed digital payments company has officially revealed its intention to become a national digital currency bank with full reserves in the United States.
While most analysts believe the market has started to turn into a bull market after the recent bullish waves, while Bitcoin is expected to set new highs.
digital currency
The Bank of Jamaica plans to issue a total of $ 1.5 million in central bank digital currency to licensed institutions and payment service providers under a pilot program that ends in December. The Bank of Jamaica has officially announced that the central bank’s digital currency division has demonstrated digital currency minting at a major financial event.
According to the announcement, the Bank of Jamaica plans to issue a total of 230 million Jamaican dinars (US $ 1.47 million) in digital currency from the central bank to deposit-taking institutions and authorized payment service providers in as part of a digital currency pilot program that ends in December.
According to Bank of Jamaica Governor Biles, the next step in adopting the Central Bank of Jamaica’s digital currency will be to ensure widespread access and acceptance by offering the central bank’s digital currency to users.
The article does not express a recommendation or appointment, but simply a monitoring of market fluctuations, as digital currency trading involves high risks, including the risk of losing all or part of the investment amount, knowing that ‘it is not fully submitted to the financial authorities. and markets.
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