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Bitcoin Cash (BCH) price has found support at the $450 territory on Wednesday May 9, after bears averted a $500 retest 48 hours earlier.
#bitcoinupdate2024
#BTC🔥🔥🔥🔥🔥
#Crypto
#CryptoNews🚀🔥"
#CryptoNewssCommunity
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The U.S. Office of the Comptroller of the Currency (OCC) has issued guidance permitting national banks to engage in cryptocurrency transactions as intermediaries without assuming market risk. Under the clarification, banks may facilitate trades between clients without holding digital assets on their own balance sheets. The decision represents a significant step toward integrating regulated cryptocurrency brokerage services into the mainstream banking system. #CryptoNews🚀🔥V
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Data from Santiment suggests heightened volatility for #shiba⚡ Inu in the coming days, following a rapid rise in whale transactions and exchange reserves. Notably, the market intelligence platform shared this in an X post, highlighting renewed whale activity in the Shiba Inu ecosystem. The Tuesday tweet stated that Shiba Inu recorded 406 whale transactions yesterday, each valued at over $100,000. This level of whale transaction is the highest since June 6th, indicating renewed interest in the asset. Notably, this spike in whale activity suggests a significant shift in SHIB tokens to new locations. However, it does not explicitly identify the direction of this move. Such moves usually highlight two things: either whales are withdrawing from exchanges in large amounts to self-custody wallets, or they are moving to new addresses and exchanges. Meanwhile, Santiment identified that this whale activity coincided with a staggering 1.06 trillion Shiba Inu addition to exchange reserves. The net change in the SHIB balance suggests that the whale transactions were actually large holders moving their holdings to exchanges. While this does not directly translate into sell-offs, it puts pressure on the Shiba Inu supply, as holders could easily exchange them for stablecoins, fiat, or other cryptocurrencies. As such, Santiment advised caution, noting that SHIB could see increased volatility in the coming days. Remarkably, Shiba Inu has already seen notable price moves over the past 24 hours. The meme coin joined a broader rally yesterday, spurred by Bitcoin’s brief climb to $94,000. SHIB moved from an intraday low of $0.00000842 to a high of $0.00000905, representing a 7.4% growth. However, it pulled back slightly to close at $0.00000873. So far today, it has further relinquished most of those gains, dropping 1.49% to its current price of $0.00000859. #CryptoNewss
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Paul Atkins Says Most Crypto ICOs Are Beyond SEC Oversight. #SEC Chair Paul Atkins stated Tuesday that most initial coin offerings (ICOs) should not be classified as securities. His comments indicate a potential regulatory shift that could reinvigorate a fundraising method long constrained by federal oversight. Speaking at the Blockchain Association’s policy summit, Atkins noted that many ICOs fail to meet the legal criteria defining a security. Consequently, they fall outside the jurisdiction of the Securities and Exchange Commission. He explained that these offerings involve token types that “do not fit” the agency’s definition of an investment product, placing them beyond the SEC’s reach. Atkins based his remarks on a token taxonomy he introduced last month. The framework divides digital assets into four categories, distinguishing between those that function like investments and those that do not. According to Atkins, three categories — network tokens, digital collectibles, and digital tools — do not exhibit the characteristics traditionally associated with securities. Consequently, they merit distinct regulatory treatment. Only the fourth category, tokenized securities, falls squarely under existing SEC rules. Atkins further suggested that oversight of the remaining categories fall under the Commodity Futures Trading Commission (CFTC). The commission has historically employed a lighter-touch regulatory approach. #Crypto
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