PayPal Shares Climb 7% Amid Strong Profit Forecast, SEC Scrutiny 
If you squat in a vacant property, does the law give you the house for free? Well, sort of 
FxWirePro- OKBUSD (Chart of the day) 
Fiji Central Bank Cautions on Crypto Use, Dashing Bitcoin Integration Hopes 
How fintech can help Indonesia's small and medium enterprises survive the COVID-19 pandemic 
MEW Coin Eyes Recovery with New Bybit Listing, Sparks Investor Interest 
FxWirePro- Gold Daily Outlook 
Flare - EVM based Layer 1 Blockchain 
Elon Musk's X to Launch In-App Payment Services on Social Media Platform in Mid-2024 
Mexico’s slow slide towards vigilante violence 
Indian Banks Disburse Employee Benefits Through Digital Rupee, Boosting RBI's Target Transactions 
Standard Chartered’s Investment Arm, SBI Holdings to Set Up Digital Asset Joint Venture in the UAE 
Alchemy Pay Forms Strategic Partnership with Worldpay to Expand Cryptocurrency Payment Channels 
We’ve witnessed that the constant upsurge in the price of Bitcoin above $8k from the lows of $5,755, but from Wednesday, bears have resumed their business as the BTC price slides back below $8,000 on today after the U.S. Securities and Exchange Commission (SEC) declined the Winklevoss twins’ second attempt to launching a bitcoin ETF.
The US regulatory agency, Securities and Exchange Commission (SEC) has yet again denied the approval of an application filed by Cameron and Tyler Winklevoss, the reputed cryptocurrency investors and the founders of cryptocurrency exchange Gemini, to launch an exchange-traded fund (ETF) product that tracks the price of bitcoin.
Commissioner Hester Peirce has stated, “her cause of concerns on the Commission’s approach that undermines investor protection by prohibiting greater institutionalization of the bitcoin market. More institutional participation likely to revolutionize many of the Commission’s concerns with the bitcoin market that cause its disapproval order. More generally, the Commission’s interpretation and application of the statutory standard sends a strong signal that innovation is unwelcome in our markets, a signal that may have effects far beyond the fate of bitcoin ETPs (exchange-traded products).”
The Commission indicates an aversion to innovation that may convince entrepreneurs that they should take their ingenuity to other sectors of our economy, or to foreign markets, where their talents will be welcomed with more enthusiasm, SEC Commissioner Peirce clarified.
While the accurate date of the SEC clear decision on the ETF has been expected by many as being August 16th due to the clause that the authority usually makes an announcement 45 days after a filing is published on its website. However, some other source indicates that the SEC would most likely postpone the Bitcoin ETF filed by the CBOE as they have already postponed several others to September also.
Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -90 levels (which is bearish), while USD is flashing at 43 levels (which is bullish) while articulating at (08:28 GMT). For more details on the index, please refer below weblink:
