Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Bitcoin price under pressure as regulatory concerns rise

Bitcoin price under pressure as regulatory concerns rise



Bitcoin traded about 1% lower Friday morning.

The price was around $ 32,820 per coin while rivals Ethereum and Dogecoin traded around $ 2,110 and 20 cents per share, respectively. coin according to Coindesk.

GET FOX BUSINESS ON SPEED by clicking here

Cryptocurrencies have recently been under pressure due to regulatory concerns.

SQUARE PLANS FOR THE PLACEMENT OF THE BITCOIN STORAGE INDUSTRY

Square Inc plans to create a hardware wallet for Bitcoin.

The plan was confirmed by the payment company in a tweet Thursday.

Bitcoin wallets can be stored on cryptocurrency exchanges where bitcoin can be bought and sold for traditional currencies or other virtual coins.

The announcement came shortly before U.S. Senator Elizabeth Warren highlighted growing risks to the consumer and financial markets cryptocurrency market, according to Reuters.

. “We have decided to build a hardware wallet and service to make bitcoin custody more common …”

;, said Jesse Dorogusker, head of hardware at Square in a twitter thread.

Jack Dorsey is the CEO of Square Inc.

Warren on Thursday raised concerns about the need to regulate the cryptocurrency market in a letter to Securities and Exchange Commission Chairman Gary Gensler, according to Reuters.

Many companies have emerged to protect customers’ assets against theft online

ISRAEL SAYS IT’S TARGETING HAMAS ‘CRYPTOCURRENCY ACCOUNTS

In other Cryptocurrency news, Israel said on Thursday that it will begin seizing cryptocurrency accounts used by the Palestinian Hamas group to raise money for its armed wing.

Israeli Defense Minister Benny Gantz ordered security forces to seize the accounts after a joint operation “uncovered a web of electronic wallets” used by Hamas to raise funds using bitcoin and other cryptocurrencies, the ministry said.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

It said Hamas has waged an online campaign to raise donations for its military wing, an effort that accelerated after the 11-day Gaza war in May. Cryptocurrencies like bitcoin are preferred for illegal transactions because they are perceived as difficult to track.


Source link