{"id":16385,"date":"2025-03-30T00:53:34","date_gmt":"2025-03-30T00:53:34","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/30\/crypto-market-recap-sec-nominee-atkins-grilled-on-crypto-uae-to-launch-cbdc\/"},"modified":"2025-03-30T00:53:34","modified_gmt":"2025-03-30T00:53:34","slug":"crypto-market-recap-sec-nominee-atkins-grilled-on-crypto-uae-to-launch-cbdc","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/03\/30\/crypto-market-recap-sec-nominee-atkins-grilled-on-crypto-uae-to-launch-cbdc\/","title":{"rendered":"Crypto Market Recap: SEC Nominee Atkins Grilled on Crypto, UAE to Launch CBDC"},"content":{"rendered":"<\/p>\n

Here\u2019s a quick recap of the crypto landscape for Friday (March 28) as of 9:00 p.m. UTC.<\/strong><\/p>\n

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Bitcoin and Ethereum price update <\/h3>\n

Bitcoin (BTC) <\/strong>is currently trading at US$83,780.06, a 3.7 percent decrease over the past 24 hours. The day\u2019s trading range has seen a low of US$83,609.35 and a high of US$85,503.88.<\/p>\n<\/div>\n

<\/small><\/p>\n

Bitcoin performance, March 28, 2025.<\/em><\/p>\n

<\/small><\/p>\n

Chart via TradingView.<\/em><\/p>\n

Deribit\u2019s US$16 billion Bitcoin options expiry on Friday had US$75,000 max pain, down from the projected US$85,000, and a 0.58 put\/call ratio. There was a high amount of call option open interest at the US$100,000 strike price. <\/p>\n

Bitcoin\u2019s subsequent decline indicates post-expiry market adjustments.<\/p>\n

Ethereum (ETH)<\/strong> is priced at US$1,875.25, a 6.4 percent decrease over 24 hours. The cryptocurrency reached an intraday low of US$1,866.54 and a high of US$1,900.19.<\/span><\/p>\n<\/div>\n

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Altcoin price update <\/h3>\n

Solana (SOL)<\/strong> is currently valued at US$129.44, down 6.9 percent over the past 24 hours. SOL experienced a low of US$129.17 and a high of US$131.56 on Friday.<\/p>\n

XRP<\/strong> is trading at US$2.18, reflecting a 6.9 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.16 and a high of US$2.22.<\/p>\n

<\/span>Sui (SUI) <\/strong>is priced at US$2.49, showing a 9.7 percent decrease over the past 24 hours. It achieved a daily low of US$2.49 and a high of US$2.56.<\/p>\n

<\/span>Cardano (ADA)<\/strong> is trading at US$0.6961, reflecting a 5.2 percent decrease over the past 24 hours. Its lowest price on Friday was US$0.66925, with a high of US$0.7031.<\/p>\n<\/div>\n

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Crypto news to know <\/h3>\n

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SEC onboards Musk\u2019s DOGE team members<\/h4>\n

Reuters reported that the US Securities and Exchange Commission (SEC) has begun onboarding members from Elon Musk\u2019s Department of Government Efficiency (DOGE) team. <\/p>\n

\u201cOur intent will be to partner with the DOGE representatives and cooperate with their request following normal processes for ethics requirements, IT security or system training, and establishing their need to know before granting access to restricted systems and data,\u201d said an email to SEC staff, according to Reuters.<\/p>\n

Atkins questioned at Senate confirmation hearing <\/h4>\n

SEC nominee Paul Atkins testified before the Senate Banking Committee on Thursday (March 27).<\/p>\n

During the hearing, he was questioned by Senate lawmakers regarding the sale of his consulting firm, Patomak Global Partners, which advised bankrupt cryptocurrency exchange FTX.<\/p>\n

\u201cYour clients pay you north of US$1,200 an hour for advice on how to influence regulators like the SEC, and if you\u2019re confirmed, you will be in a prime spot to deliver for all those clients who\u2019ve been paying you millions of dollars for years,\u201d said Senator Elizabeth Warren during the hearing. She also requested that he disclose the firms potential buyers, whom she suggested may \u201cbuying access to the future chair of the SEC.\u2019 <\/p>\n

Atkins said he will abide by the process of government ethics, but did not directly answer Warren\u2019s question.<\/p>\n

Senator John Kennedy also grilled Atkins about whether he will pursue the parents of FTX founder Sam Bankman-Fried, who Kennedy alleges may have been involved in and profited from his business affairs. Kennedy said if his position with the SEC is confirmed, he would \u201cpounce on you like a ninja\u201d to investigate the matter further.<\/p>\n

UAE set to launch Digital Dirham CBDC<\/h4>\n

The United Arab Emirates is moving forward with its central bank digital currency (CBDC) plans, announcing that the Digital Dirham will be launched for retail use by the last quarter of 2025, the Khaleej Times reported.<\/p>\n

The Central Bank of the United Arab Emirates has developed an integrated Digital Dirham platform that will support retail, wholesale and cross-border transactions. <\/p>\n

The CBDC will be accessible through licensed financial institutions, including banks, fintech firms and exchange houses, and will be accepted alongside physical cash across all payment channels. <\/p>\n

This initiative follows the United Arab Emirates\u2019 efforts to regulate stablecoins and aligns with global trends, as countries like China, Russia and Sweden also push forward with CBDC pilot programs. <\/p>\n

The United Arab Emirates\u2019 Digital Dirham is expected to enhance financial security, streamline transactions and provide regulatory oversight beyond what private stablecoins can offer.<\/p>\n

UK regulator plans to enforce stricter crypto authorization regime
<\/h4>\n

The UK\u2019s Financial Conduct Authority (FCA) announced that it will introduce a new authorization framework for crypto firms in 2026, significantly increasing regulatory scrutiny in the sector. <\/p>\n

Under the proposed \u2018gateway regime,\u2019 crypto companies, including major exchanges such as Coinbase and Gemini, will need to obtain authorization to operate beyond existing anti-money laundering (AML) requirements. <\/p>\n

The FCA has been tightening its oversight, with only 50 out of 368 applicants successfully registering under its AML framework since 2020. Upcoming consultations will define which crypto activities require authorization, with a focus on stablecoins, trading platforms and staking services. <\/p>\n

Industry participants have just over a year to prepare for these stricter compliance measures, which are expected to reshape the regulatory landscape for digital assets in the UK.<\/p>\n

BlackRock expands Bitcoin ETP to Europe<\/h4>\n

BlackRock has launched its iShares Bitcoin exchange-traded product (ETP) in Europe, making it available on major exchanges like Xetra, Euronext Amsterdam and Euronext Paris. <\/p>\n

This expansion is a significant milestone for institutional Bitcoin adoption in the region, following the success of BlackRock\u2019s US-based iShares Bitcoin Trust ETF, which has accumulated over US$49 billion in assets. <\/p>\n

However, analysts believe that demand for the European ETP will be more muted, citing differences in market structure, investor appetite and regulatory clarity. <\/p>\n

While Bitcoin exchange-traded funds (ETFs) in the US have benefited from deep institutional participation, the European market is still developing. Experts suggest that BlackRock\u2019s entry into Europe could encourage further institutional involvement, but widespread adoption may take time as regulatory frameworks evolve.<\/p>\n

Nasdaq files to list Grayscale\u2019s spot Avalanche ETF
<\/h4>\n

Nasdaq is seeking permission from the SEC to list Grayscale Investments\u2019 spot Avalanche ETF. The proposed AVAX ETF would be a conversion of Grayscale Investments\u2019 close-ended AVAX fund launched in August 2024, which currently holds around US$1.76 million worth of assets under management.<\/p>\n<\/div>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/strong><\/p>\n

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s a quick recap of the crypto landscape for Friday (March 28) as of 9:00 p.m. UTC. Bitcoin and Ethereum price update Bitcoin (BTC) is currently trading at US$83,780.06, a 3.7 percent decrease over the past 24 hours. The day\u2019s trading range has seen a low of US$83,609.35 and a high of US$85,503.88. Bitcoin performance, […]<\/p>\n","protected":false},"author":0,"featured_media":16386,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=16385"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/16385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/16386"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=16385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=16385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=16385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}