Join the Trading Community: Learn & Earn with BingX.
Today’s Cryptocurrency Headline
Canadian Prime Minister Justin Trudeau has invoked the country’s Emergency Act for the first time in response to ongoing lockdown restrictions in response to COVID-19. Under the act, crowdfunding platforms and their associated payment service providers, including cryptocurrencies, must now register with the Financial Transactions and Reports Analysis Centre of Canada(FINTRAC). It is unclear whether the emergency bill will have a long-term impact on crypto payment providers. The federal government is expanding anti-money laundering and counter-terrorism financing rules to cover the crowdfunding platforms and payment providers they use, Finance Minister Chrystia Freeland said on Monday.
BingX’s Bitcoin Chart
According to Bloomberg senior ETF analyst Eric Balchunas, after the SEC started receiving comments and feedback on Grayscale’s Bitcoin Trust conversion to a spot exchange-traded fund (ETF), 95% of the feedback are in favor of Grayscale’s Bitcoin Trust converting to spot ETF. BTC rose 4.8% over the last 24-hours after the buyers held the $40,000 psychological support level. The next major resistance area will be the $46,000 – $48,000 zone and the 200-day moving average ($49,410). BTC could reach $51,000 if the cryptocurrency successfully breaks and consolidates above these two levels.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.