NFT News by Thebittimes.Com

The group, “Bitcoin Argentina,” previously rejected the idea that regulation was needed in the cryptocurrency industry. Non-government organization Bitcoin Argentina presented a draft bill proposing to regulate the cryptocurrency market in a way that preserve s de central ization and strengthens public trust. The proposed legal framework was pitched by Bitcoin Argentina's president Ricardo Mihura at LABITCONF 2023 in Argentina’s capital, Buenos Aires on Nov. 10. Bitcoin Argentina previously dismissed the idea that the industry needed to be regulated. However, the Bitcoin advocates now argue it is necessary to not only preserve blockchain but also hold bad actors accountable to the fullest extent of the law. “We have always rejected attempts to regulate the crypto economy, but this time we set ourselves the goal of giving a positive response, with only two purposes: preserving decentralization and protecting savings and public trust.” Mihura added: “We cannot close our eyes to the...

Cathie Wood thinks Bitcoin and Ether are acting as “risk-off” assets and as a “flight to safety” for investors amid macroeconomic uncertainty. Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold. Wood explained in an April 15 interview that Bitcoin’s resilience throughout the most recent banking crisis has been “the most remarkable” of all indicators her tech-focused investment management firm is monitoring. Bitcoin and Ether are now acting as “risk-off” assets and as a “flight to safety” for investors amid macroeconomic uncertainty, she claimed: “They’re going to disrupt the traditional world order. What are Bitcoin and Ether doing? I mean by the very fact that they’re being considered flight to safety like gold, that’s really interesting and suggests much broader-based adoption...

According to recent reports close to central bank officials, the U.S. Federal Reserve will likely deliver another interest rate hike by roughly 75 basis points (bps) next month. Moreover, markets are predicting another rise by three-quarters of a point, and CME’s Fedwatch Tool indicates there’s a near-certain (98%) chance the central bank will choose a 75bps raise. Despite the market expecting an aggressive Fed, an analyst from investors.com believes the Fed will pivot by December depending “on how financial markets act between now and then.” Philadelphia Fed President: ‘Inflation Is Known to Shoot up Like a Rocket and Then Come Down Like a Feather’ It seems pretty certain that the U.S. Federal Reserve will raise the federal funds rate (FFR) by roughly 75bps, according to various reports and CME’s Fedwatch Tool. That’s despite the fact that politicians and a recent United Nations Conference on Trade and Development (UNCTAD) report have urged the Fed to slow down. Analysts from the...