Chair

Bitcoin ETF

Bitcoin

Gary

The post <a href="https://coinpedia.org/news/top-crypto-news-of-the-week-december-11th-16th-2023/">Top Crypto News of the Week: December 11th-16th, 2023</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
As the cryptocurrency world continues to unravel new chapters each week, we bring you a comprehensive update on the latest developments that are steering the digital finance industry. From the corridors of regulation to the fluctuating market graphs, this week has been a rollercoaster ride for crypto enthusiasts and investors alike. Join us as we delve into the key events and trends that are currently shaping the cryptocurrency landscape. 
<h2 class="wp-block-heading" id="h-bitcoin-etf-updates">Bitcoin ETF Updates</h2> 
<ul> 
 <li>Dec 15: The U.S. Securities and Exchange Commission (SEC), led by Chair Gary Gensler, is currently reviewing 8-12 <a href="https://coinpedia.org/news/sec-chair-gensler-hints-potential-bitcoin-etf-approval-highlights-secs-new-look-post-court-rulings/">Bitcoin ETF</a> applications. While Gensler has expressed concerns about compliance issues in the crypto industry, a decision on these applications is expected in early 2024. This development continues to hold the attention of the market, as approval could significantly impact Bitcoin’s trajectory​​.</li> 
 <li>Dec 14: The SEC put the <a href="https://coinpedia.org/news/sec-delays-decision-on-pioneering-invesco-galaxy-ethereum-etf-to-february-2024/">Invesco Galaxy Ethereum ETF</a> on hold, delaying its decision until February 2024. This move reflects the cautious approach of the regulator towards integrating cryptocurrencies into mainstream finance​​.</li> 
</ul> 
<h2 class="wp-block-heading" id="h-crypto-regulation">Crypto Regulation</h2> 
<ul> 
 <li>Dec 16: Coinbase has taken <a href="https://coinpedia.org/news/coinbase-files-legal-action-against-sec-for-crypto-regulation-oversight/">legal action</a> against the SEC for what it perceives as a lack of clarity in crypto regulation. The company’s Chief Legal Officer announced intentions to approach the Third Circuit court following the SEC’s refusal to provide the requested regulatory guidance​​.</li> 
 <li>Dec 13: The Chairman of the U.S. Commodity Futures Trading Commission (CFTC) asserted that most <a href="https://coinpedia.org/news/cftc-chairman-reiterates-cryptos-are-commodities-amid-sec-debacles/">cryptocurrencies are commodities</a>, urging for clearer legal guidelines. This statement adds another layer to the ongoing debate about the nature and regulation of cryptocurrencies​​.</li> 
 <li>Dec 13: Binance and its former CEO, Changpeng Zhao, launched a <a href="https://coinpedia.org/news/binance-entities-challenge-sec-lawsuit-for-insufficient-evidence-and-jurisdiction-concerns/">counteroffensive</a> against the SEC, challenging the authority of the commission and its jurisdictional reach in the crypto environment​​.</li> 
</ul> 
Market Trends and Predictions 
<ul> 
 <li>Dec 14: XRP is nearing the end of a <a href="https://coinpedia.org/news/xrp-might-hit-this-price-level-if-it-breaks-out-6-year-a-symmetrical-triangle/">six-year symmetrical triangle pattern</a>, with predictions suggesting a potential breakout. This could lead to a significant increase in its value, with targets reaching as high as $22 in the coming months​​.</li> 
 <li>Dec 12: CreditCoin (CTC) saw a remarkable <a href="https://coinpedia.org/news/creditcoin-price-surge-by-262-after-upbit-announces-its-listing-on-its-korean-won-market/">surge</a> in value, rising to $0.73 following its listing on South Korean exchange Upbit. This move highlights the continued interest and growth potential in various altcoins​​.</li> 
 <li>Dec 11: The Terra Luna Classic (LUNC) ecosystem achieved a major milestone by successfully burning <a href="https://coinpedia.org/news/terra-luna-classic-community-burns-over-85-billion-lunc-what-next-for-lunc-price/">85 billion LUNC</a>, with Binance contributing significantly to this effort​​.</li> 
</ul> 
Additional Notable Events 
<ul> 
 <li>Dec 15: The cryptocurrency industry faced another security breach with the <a href="https://coinpedia.org/news/hackers-stole-484k-in-ledger-supply-chain-attack-tether-steps-in-by-freezing-funds/">Ledger Connect hack</a>, leading to a loss of $484,000. This event highlights ongoing challenges in blockchain security​​.</li> 
 <li>Dec 15: SafeMoon filed for Chapter 7 <a href="https://coinpedia.org/news/safemoon-files-for-chapter-7-bankruptcy-amid-allegations-of-fraud/">bankruptcy</a> amid allegations of fraud and mismanagement, causing its market value to plummet. This development raises concerns about the need for more robust regulations in the crypto market​​.</li> 
 <li>Dec 12: El Salvador announced the launch of the “<a href="https://coinpedia.org/news/el-salvadors-volcanic-bonds-pioneering-a-crypto-powered-future-in-q1-2024/">Volcano Bond</a>,” a Bitcoin-backed bond aimed at funding the development of Bitcoin City and reducing national debt. This move underscores the country’s commitment to leveraging cryptocurrencies in its economic strategy.</li> 
</ul> 
Overall, This week in crypto reveals a complex interplay of regulatory developments and market trends, highlighting the dynamic and evolving nature of the digital finance landscape.

Top Crypto News of the Week: December 11th-16th, 2023

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