Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, exchange trade groups are working with global regulators to slow the rise of tokenized stocks. Galaxy Digital, Multicoin Capital and Jump Crypto are said to be raising $1 billion to accumulate Solana. Meanwhile, Bitcoin dropped to $112,174, with some analysts linking the move to a $2 billion whale sell-off.
Exchange industry associations and global regulators are joining forces to curb the growth and adoption of tokenized stocks, arguing that these products do not represent actual equities and expose investors to significant risks.
According to Reuters, the European Securities and Markets Authority (ESMA), the International Organization of Securities Commissions (IOSCO), and the World Federation of Exchanges (WFE) have sent a letter to the US Securities and Exchange Commission’s (SEC) Crypto Task Force, urging stricter regulatory oversight of tokenized stocks.
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