UK to Unveil Plans for Cryptocurrency Regulation in Coming Weeks

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Today’s Cryptocurrency Headline

The British Chancellor of the Exchequer, Rishi Sunak, is expected to announce a new regulatory regime for cryptocurrencies in the coming weeks. The announcement will specifically focus on stablecoins as well as some digital assets whose value is pegged to existing currencies, such as the U.S. dollar. The UK Treasury has been in discussions with several companies and trade groups, including cryptocurrency exchange Gemini. Sources said the plan could be beneficial for the industry, providing legal transparency to the cryptocurrency industry.

BingX’s Bitcoin Chart

Source: TradingView& BingX

The Luna Foundation Guard has announced holdings of 21,323.07 bitcoins, currently worth over $946 million. Previously, Luna Foundation Guard completed a $1 billion financing through an OTC token sale in February. Jump Crypto and Three Arrows Capital led the investment. BTC is up about 5% over the last 24 hours and has risen to an intraday high of $46,999. The world’s largest cryptocurrency flips the $46,000 price level for the first time since January, which means $46,000 has become a solid support for BTC. If buyers maintain the price above $46,00, the BTC/USDT pair could rise to $51,000.

 

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