Largest Russian Bank Launches Crypto Asset Services
Sberbank, one of Russia’s largest banks with the most users, announced that it will start providing cryptocurrency services this month. While it was stated that the giant bank will start its services in a few weeks, it was stated that Bitcoin and other coins can be traded to its customers in a short time.
Robinhood Delists Solana, Cardano and Polygon
Robinhood, one of the largest trading platforms in the US, announced that it will delist Solana (SOL), Cardano (ADA) and Polygon (MATIC) coins, which the SEC considers securities. Following this news, the prices of three important altcoins experienced a significant depreciation.
Solana Foundation Issues Statement Against SEC’s Securities Review
The Solana Foundation for Solana, one of the largest coins that the SEC considered as securities with the Binance and Coinbase cases, took action against the SEC’s decision. In their statement, they invited regulators and politicians to come together to create a legal framework for the ever-evolving crypto market. It was stated that the shock waves sent by the SEC had a huge impact on the market and Robinhood was one of the best examples of this.
Crypto.com Halts Institutional Trade Services in the US
Crypto.com announced the discontinuation of its institutional trading platform for American customers. The main reason for this move was stated as the low demand from institutional customers in the US due to the pressure from the regulator. Crypto.com’s decision will only affect institutional clients in the U.S. and will not affect individual investors, as well as the company’s significant sponsorship deals.
Polygon Responds to SEC Allegations
Polygon released a statement in response to the SEC’s securitization of Matic. Polygon made the announcement on their social media accounts, stating that they are focused on their global ambitions and are confident about future developments. The statement emphasized that it is a project developed outside the US and continues its operations outside the US.
New Crypto Bill in America
The third draft of the stablecoin bill, which has been mentioned and discussed in the past months, was published by Patrick McHenry, Chairman of the US Financial Services Committee. On April 24, it was stated that the titles that needed to be amended in the previous draft had been edited and submitted to the parliament and would be discussed by the committee on Tuesday, June 13. It was stated that the second draft focused more on stablecoin payments, while the last draft focused more on who can produce stablecoins. The new bill calls for the FED to control the production, supervision, development and permitting of stablecoins. The new draft also includes state regulators and stablecoin producer companies.
Digital Asset Taxation in Nigeria
Taxation of digital assets is on the agenda in Nigeria. Former President Muhammadu Buhari signed the Finance Bill 2023 into law ahead of his departure from office last week. One of the most important changes that came with the law was the introduction of a 10% tax on digital asset gains. The Finance Bill aims to promote transparency, revenue streamlining and economic growth.
BITCOIN [BTC]
Bitcoin is priced at $ 25,792 with a 0.51% loss in value as of today morning hours. Bitcoin saw a strong stance compared to the market with the sale that started at the bottom. While pricing in the 26,300 regions on Friday, Bitcoin, which returned to the 25,200-26,200 range with the sales seen at the weekend, continues to be priced in this range. We can say that the 25,200 level is the most critical zone in Bitcoin and the expectation will be positive as long as it stays above this zone. While the US PPI-CPI and Interest Rate Decision data coming this week will be important data that can create big changes in the markets, apart from these data, the Hinmann Documents in Ripple seem to be another important title for crypto assets.
ETHEREUM [ETH]
ETH, which lost 0.79% as of morning hours, is priced at $ 1739. Ethereum has also managed to stay strong along with Bitcoin relative to the market. Ethereum, which broke the horizontal channel movement downward from the 1780 region on Friday evening, fell to the long-term critical support level of 1720 and returned without breaking this level. We can say that the 1720 level is one of the strongest support zones in Ethereum and that the decline may deepen further in the event of a downward break of this region, but if there is a turnaround, it is likely to be experienced from this region.
