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According to a Tuesday filing from the U.S. SEC, the regulator will extend the deadline for a decision on the ARK 21Shares Bitcoin ETF application for an additional 60 days from Feb 2 to April 3rd. SEC Assistant Secretary J. Matthew DeLesDernier noted in the filing that it was “appropriate to designate a longer period” for the regulatory body to consider the proposed rule change. Cboe BZX Exchange initially filed for ARK 21Shares Bitcoin ETF in July 2021, with the SEC able to delay its decision and open the offering to public comment for up to 180 days, with an option to extend the final 60 days starting on Feb 2. After April 3, the SEC will not be able to extend the deliberation window further and a decision will be made for the ETF.
President Vladimir Putin has backed the Russian government’s proposal to approve regulated crypto mining, according to unnamed sources familiar with the matter. Putin has previously stated that Russia has some advantages in cryptocurrency mining. He also asked the Ministry of Finance and the Central Bank of Russia to agree on cryptocurrency regulation. After making a run towards the $40,000 resistance level on Wednesday, BTC fell to a low of $35,500 earlier today. As the Federal Reserve’s decision to keep interest rates unchanged and the market expected an interest rate hike in March, the crypto market saw uncertainty in the coming weeks. For now, the bulls need to consolidate the BTC price between $33,000 – $37,000 to stabilize the pullback.
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