Investing.com– Bitcoin rose on Thursday, extending an overnight rebound amid growing conviction that Donald Trump’s incoming administration will entail friendlier regulations for the crypto industry.
Overnight gains saw Bitcoin move back towards the coveted $100,000 level, after the crypto failed to breach the level last week. Bitcoin had then logged steep losses as traders locked in recent profits, although the crypto was still trading up over 100% so far in 2024.
rose 3.1% to $95,645.0 by 00:31 ET (05:31 GMT).
Trump to shift crypto regulation to CFTC from SEC- Fox
Trump’s administration wants to shift a bulk of crypto regulatory oversight to the Commodity Futures Trading Commission from the Securities and Exchange Commission, Fox Business reported on Wednesday.
The CFTC oversees the U.S. derivatives market, and is seen as having less strict regulatory standards than the SEC.
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