By last week, $BTC had recovered to US$10,700 levels after previously hitting a bottom of US$10,300. The areas with the largest resistance were between, US$10,600-10,700 and has become an attractive entry and trigger point for a solid rise for the asset class.
Regluation - Stablecoins
On Monday, The U.S. Office of the Comptroller of the Currency (OCC) published a letter clarifying that national banks and federal savings associations can now hold reserves for stablecoin issuers in the country. The reserve accounts can either be funded through deposits from stablecoin issuers or deposits from individual stablecoin holders.
As the OCC recently reaffirmed, national banks may provide permissible banking services to any lawful business they choose, including cryptocurrency businesses, so long as they effectively manage the risks and comply with applicable law, including those relating to the Bank Secrecy Act and Anti-Money Laundering regulations. Although stablecoins have been using U.S banks for years, the regulatory environment surrounding such use has been murky. The announcement has made it clear for federal banks to feel comfortable in providing services to stable coin issuers as long as they are banked on a 1:1 basis with fiat money.
Uniswap has gone live with a dedicated token to mass success, but concerns have emerged that the proverbial party could come to a halt if the Securities and Exchange Commission (SEC) looks too closely at the token on whether it is a security. Crypto professionals have continuously said Uniswap looks like a unregistered security, as its prices raise dramatically, people are interested to buy Uniswap to speculate and make a quick buck rather than to utilize the actual underlying network.