Cryptoassets recorded a significant recovery last week as Bitcoin returned to all-time highs. Bitcoin showed an increase over the past week and made a rapid exit from $ 48,000 to $ 54,000, and today Bitcoin rose to $ 57,500. At the time of this news, Bitconi is trading at $ 55,800.
Ethereum, on the other hand, started trading at $3350 last week and climbed to $3665 as it progressed towards the end of the week. Although Ethereum is drawing a complex chart at the moment, it is still above the levels of last September. ETH is currently trading at around $3500.
White House Working on Cryptocurrency Regulation
One of the most important news of this week came from the United States. According to media reports, US President Joe Biden and his team are working on a number of regulations that will have a significant impact on crypto assets.
The White House will not be able to enact it directly, as the decision Biden wants to take has such a wide impact. In order for the White House to implement this decree, it needs approval and advice from various institutions. Still, Joe Biden wants to make market-compliant decisions to further control crypto assets, and even appoint a “tsar” to control crypto assets.
Bitcoin Mining Firm Seeks Market In London
Bitcoin mining firm Bitfury is looking to hold a $1 billion IPO on the London Stock Exchange.
According to The Telegraph, the firm intends to list Europe’s largest ever cryptoasset IPO in the next 12 months.
Brazil Will Legally Recognize Bitcoin!
Brazil may soon adopt Bitcoin legally, following in the footsteps of El Salvador.
Brazil currently has a bill passed by a “proxy room” that would create a legal regulatory environment for crypto assets. Federal MP Aureo Ribeiro, who sponsored the bill, said that with this bill, he wanted to create regulatory certainty for consumers, which would allow a transparent transaction of crypto assets.
Brazil’s goal is to legally recognize Bitcoin and allow it to be used in all commercial transactions within the country. According to executives, Bitcoin will be a currency that can be used in daily life.
“It has already made an agreement with both the Central Bank and the Brazilian Securities and Exchange Commission (CVM) on the opportunities of this asset and its recognition in, for example, real estate value or day-use currency.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.