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Bettors are wagering that 2025 will be a banner year for cryptocurrency markets, with BTC and ETH hitting all-time highs and several new types of crypto ETFs listing in the US.
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“The potential risks of the Bitcoin project will be diminished significantly in line with Fund policies. Legal reforms will make acceptance of Bitcoin by the private sector voluntary,” the IMF said.
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The Central American nation will get $1.4 billion from the IMF over the next 40 months after agreeing to measures aimed at dropping its debt-to-GDP ratio, the global lender said in a Dec. 18 statement.
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El Salvador is set to make merchant acceptance of Bitcoin voluntary, unwind its involvement in its little-used Chivo wallet and make public sector engagement of Bitcoin-related economic activity “confined” as part of a $1.4 billion loan deal with the International Monetary Fund.
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The Digital Chamber’s proposal may hold some weight as Atkins serves on its advisory board and Token Alliance leadership committee members met with SEC commissioners Hester Peirce and Mark Uyeda to present the policy priorities.
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SEC Chair Gary Gensler, viewed as the orchestrator behind the regulation-by-enforcement approach, is set to step down on Jan. 20 and is tipped to be replaced by Atkins, who previously served as an SEC commissioner from 2002 to 2008.
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The new SEC may also consider whether it should withdraw from proposed Rule 3b-16, which would expand the definition of “exchanges” to include decentralized finance protocols, among others.
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An SAB 121 repeal bill received bipartisan support in the House and Senate before being vetoed by President Joe Biden.
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The Digital Chamber said the rule was burdensome on market participants, while House Representative Wiley Nickel has said that it may push US investors offshore to “riskier” custodial solutions.
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SAB 121 requires SEC-reporting entities that custody cryptocurrencies to record those holdings as liabilities on their balance sheets.
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The Digital Chamber also wants the SEC’s Staff Accounting Bulletin 121 (SAB 121) rule to be rescinded.
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“He’s opening up our government to the highest corporate bidder,” said Senator Brown, referring to Trump. “It will be up to all of you in this room to preserve the [Consumer Financial Protection Bureau] as the one place where ordinary Americans can go that will fight for them.”
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In a Dec. 11 notice, Brown, the Senate banking committee chair, issued a warning as part of prepared remarks for a hearing ahead of the next Congress and President-elect Donald Trump being sworn into office. The Ohio lawmaker said that corporate special interests would have “free rein to rip off workers and customers” based on Trump’s nominations so far.
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Democratic Senator Sherrod Brown gave a final message to United States lawmakers in the Senate Banking Committee before he leaves office in January.
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“In her dissent on spot Bitcoin ETPs, Commissioner Crenshaw mischaracterized the integrity of the Bitcoin market, relying on outdated data and flawed arguments that failed to account for significant advancements in market structure and oversight,” wrote Carbone.
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Bitcoin’s latest ascent speaks to its evolution from a curious experiment to a legitimate global financial asset.
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Beyond traditional crypto firms, companies such as medical manufacturing Semler Scientific, e-commerce platform Mercado Libre, and Chinese tech company Meitu also maintain digital assets on their balance sheets.
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Other companies that include BTC in their treasury holdings are Coinbase and mining firms such as CleanSpark, Riot Platforms, and Hut 8.
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MicroStrategy pioneered this idea when it began purchasing Bitcoin regularly in 2020. Initially seen as an unconventional approach, this strategy has netted the company unrealized profits of approximately $17 billion at current market prices.
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Workspot is following a growing trend among publicly traded companies of using cash reserves to buy digital assets.
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