Microstrategy’s Saylor Envisions Bitcoin-Only Future for Crypto Industry as US Regulators Hammer the Sector
Microstrategy founder Michael Saylor- regulators perceive no “legitimate path forward” for cryptocurrencies such as stablecoins, crypto securities, and tokens. In an interview with Bloomberg on Tuesday, Saylor emphasized that the entire industry is bound for rationalization and will undergo a significant metamorphosis into a Bitcoin-centric financial sector, leaving only a few proof-of-work tokens to prevail.
The fact that BTC is widely recognized as a digital commodity on a global scale, and he speculated that regulators do not envision a promising future for other cryptocurrencies.
Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’; BRICS Currency vs U.S. Dollar
The economist highlighted that during a meeting last week, foreign ministers from the BRICS countries (Brazil, Russia, India, China, and South Africa) convened alongside ministers from various nations, including Iran, Egypt, the United Arab Emirates, and Saudi Arabia.
“The main topic of discussion was the creation of a common BRICS currency,” he noted, adding that the officials also discussed BRICS membership expansions. More than 19 countries have reportedly applied to join the economic bloc or have expressed interest in joining.
Latin America
Due to the unique traits it presents, Latin America has been a thriving region for cryptocurrency, as the technology aims to complement or even substitute traditional finance components that cannot be used in certain countries in the area.
Bitcoin mining is also an emergent activity on the continent, with companies seeking to take advantage of the cheap power tariffs and ideal climates that countries like Paraguay and Argentina offer to incoming mining companies.
Crypto Exchange Binance US and SEC Near Compromise to Avoid Asset Freeze
Binance US, the United States-based subsidiary of the world’s leading digital asset exchange, Binance, and the U.S. securities regulator, the SEC, have agreed to work on a deal that would spare the court from the need to decide whether to freeze the platform’s assets.
The SEC had requested a temporary restraining order for the assets on Binance US for the duration of a lawsuit it filed against the entities operating Binance and Binance US, as well as their founder, Changpeng Zhao, in which they were accused of mishandling users’ funds and misleading investors and regulators.
Pro-Bitcoin Miami Mayor Francis Suarez Joins Race for 2024 US Presidential Election
Suarez has been a vocal proponent of Bitcoin (BTC). As the mayor of Florida’s second-most populous city, he received his paycheck in BTC and chose to invest a portion of his 401K retirement plan in Bitcoin.
He has also explored the possibility of allocating some of Miami’s treasury reserves to Bitcoin and has been supportive of initiatives to enable Miami residents to pay taxes using Bitcoin. A new Super PAC is supporting Suarez, and he has secured a “six-figure” advertisement that will be broadcasted in three states.
Suarez will face competition from other candidates who do support Bitcoin and the crypto sector. One such candidate is Robert F. Kennedy Jr., a Democratic contender who recently announced his campaign’s acceptance of BTC. – source: bitcoin.news
