Bitcoin, the most valuable and well-known cryptocurrency in the world, has seen another significant price surge, surpassing $24,000 for the first time in its history. This recent surge in Bitcoin’s value has caught the attention of investors and traders worldwide, with many now wondering where the next destination for BTC might be.
The SEC’s Crypto Asset Examination Radar is Heating Up: What to Expect in 2023
The US Securities and Exchange Commission (SEC) recently reiterated its commitment to protecting investors and ensuring compliance with federal securities laws and regulations. In its list of audit priorities released on February 7, 2023, the SEC identified “Emerging Technologies and Crypto-Assets” as a key area of focus for the year. This focus is primarily aimed at broker-dealers and Registered Investment Advisors (RIAs) using such technologies.
On February 9, 2023, the SEC accused Payward Ventures Inc, trading as Kraken, of failing the offering and sale of its crypto asset service. As part of the settlement, Kraken paid a $30 million fine and suspended its crypto asset staking services to US customers.
SEC Chairman Gary Gensler emphasized the need for intermediaries to provide the appropriate disclosures and protections required by securities laws when offering investment contracts in exchange for investor tokens, whether through staking-as-a-service, lending, or others Middle.
Kraken isn’t the only crypto company that has faced SEC enforcement action. In January 2023, the SEC charged Nexo Capital Inc $22.5 million for failing its crypto lending product with US investors. Nexo also agreed to stop offering its crypto asset lending product.
These enforcement actions underscore the SEC’s increasing scrutiny of the crypto industry to ensure investors are adequately protected and market participants comply with securities laws and regulations.
As the regulatory environment evolves, it is vital for companies involved in the crypto industry to remain vigilant and informed of the latest regulatory developments to avoid potential penalties and reputational damage.
Bahrain’s Leading Hotel Now Accepts Bitcoin: A Milestone For Crypto Adoption In The Arab World
Novotel Bahrain Al Dana Resort has reportedly set a game-changing benchmark by introducing cryptocurrencies as a viable form of reward in the country’s hospitality industry. This latest maneuver towards digitizing investments has been replicated by several other hotels across the Arabian Peninsula, including W Dubai – The Palm and Palazzo Versace Dubai, which have followed suit in recent months.
According to recent reports, the Novotel Bahrain Al Dana Resort has partnered with Eazy Financial Services to allow guests to pay for their lodging expenses using cryptocurrencies. The hotel plans to set up bespoke terminals in its branches to facilitate this offering via the Binance application.
This strategic move has been approved by the Central Bank of Bahrain, making the Novotel Bahrain Al Dana Resort the first hotel in the Kingdom to accept this payment method. The General Manager, Amid Yazji, expressed his enthusiasm in the following statement:
“In view of the development of technology and our steadfast commitment to provide the best service to our valued guests, we are delighted to announce that we are the first hotel in the Kingdom of Bahrain and the region to adopt innovative digital payment technologies through our to update our partnership with Eazy Financial Services.”
As more people adopt cryptocurrencies, the prices of popular digital assets, including bitcoin and other altcoins, are gaining traction and support.
bitcoin price
Bitcoin is currently trading at $24,600 with a 24-hour trading volume of $38 billion and up 3% in the last 24 hours.
Bitcoin has experienced an uptrend after spotting support at the 50% Fibonacci retracement level, which stood at $23,325. The closing of a candle above this level recently started a buying trend in the market and bolstered positive market sentiment.
Looking ahead, Bitcoin’s next hurdle is $25,300. If there is a bullish crossover above this level, BTC price could be propelled higher and reach $26,000.
Bitcoin price chart – Source: Tradingview
The 50-day moving average also supports the possibility of a sustained uptrend in Bitcoin. Investors interested in profiting from this trend might keep an eye on the $24,250 level as a potential entry point for a long Bitcoin position.
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Bitcoin alternatives
CryptoNews has published a comprehensive overview of the top 15 cryptocurrencies for investors to consider for 2023. The report aims to help investors make informed investment decisions.
Besides cryptocurrencies, there are other investment opportunities with the potential for high returns that investors may want to explore.
Disclaimer: The Industry Talk section features insights from crypto industry players and is not part of Cryptonews.com editorial content.
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Cryptocurrency Price Tracker – Source: crypto news