NewsletterBitcoin Trades Above $28K Despite Fall Of Bittrex U.S.
Crypto News: The global digital asset market looked calm despite the fall of crypto exchange Bittrex U.S. Bitcoin (BTC), the world’s largest crypto printed green indexes to trade above the recently regained $28K price level.
Bittrex U.S. Falls Due To Legal Clarity
Bittrex U.S. announced that it is ceasing operations from April 30, 2023. However, it added that customer funds are safe and available for withdrawal. However, this downturn won’t affect its global operation and user funds.
Richie Lai, Bittrex Co-founder and CEO highlighted that this is the direct result of continued regulatory uncertainty. This involves a lack of interest in the U.S. financial regulators in order to frame required policies to foster innovation.
He added that where global policymakers and regulators work with crypto exchanges to generate opportunities, US regulators are extinguishing the industry and sending it overseas. Read More Crypto News Here…
Also Read: XRP Lawyer States Best And Worst Outcomes In US SEC Vs Ripple Lawsuit
U.S. regulators like Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have been alleged of not providing clarity over crypto regulations. Recently, CFTC charged Binance, the world’s largest crypto exchange and its CEO, CZ for violating federal law. However, it alleged that it has been operating illegal digital asset exchanges.
US SEC is already involved in a lawsuit with Ripple Labs. The verdict in the long running legal battle is expected to provide regulatory clarity around the crypto space. However, the XRP lawsuit is nearing much anticipated summary judgment.
Also Read: Binance Burns 1.6 Billion Terra Luna Classic Tokens, LUNC Price Jumps 3%
Bitcoin price has managed to surge by 20% in the last 30 days amid the erupting banking crisis. BTC is trading at an average price of $28,407, at the press time.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- $12T Charles Schwab to Launch Bitcoin and Ethereum Trading in Early 2026, CEO Confirms
- Senator Tim Scott Floats December 17 and 18 For Crypto Market Bill Markup
- BlackRock CEO Larry Fink Admits He Was Wrong on Bitcoin as IBIT Hits New Milestone
- Crypto Platform Polymarket Relaunches in U.S. Following CFTC Approval
- December Fed Rate Cut Prospects Strengthen After ADP Shows Deepening Labor Market Weakness
- Dogecoin Price Holds $0.15: Bullish Reversal or Just a Temporary Bounce?
- Sui Price Surges 10% As Vanguard Group Adds SUI to Bitwise 10 Crypto Index
- Bitcoin Price Prediction: Will Next Bull Run Push BTC to $100,000?
- Pepe Coin Price Risks 80% Crash as Alarming Pattern Forms and 6.5T Inflows
- Chainlink Price Surges 20%: What’s Driving Massive Upswing?
- Solana Price Poised for 25% Rally as ETF Inflows Surge Past $650M
