BTC is currently trading around $56,100 and ETH around $4,200. Notable gainers in the last 24 hours are SAND, ZEC, and MANA. The global crypto market cap is $2.67T, down 0.6% over the last day. DeFi Total Value Locked is ~$262b and BTC dominance is around 43%.
US federal banking regulators issued a statement summarizing the results of their interagency cryptocurrency “policy sprints,” which sought to solidify vocabulary, explore risks, identify existing regulations, and reveal gaps. The regulators, which include the Federal Reserve, OCC, and FDIC, plan to clarify regulations on how banks can interact with digital assets in new guidelines that will be published sometime in 2022. Topics will include crypto asset safekeeping, ancillary custody services, customer purchases and sales, crypto-collateralized lending, and stablecoin issuance. Also in US regulatory news, the OCC issued an interpretive letter telling banks to be very clear they can comply with existing crypto regulations before offering custody or node verification services. And the Chairman of the Senate Banking Committee sent letters to stablecoin issuers and exchanges seeking information on how the companies are protecting consumers and investors amid the risks highlighted in the government’s recent stablecoin report.
In other news, despite some expectation that India would be more accommodative to crypto, the government submitted a bill that would “ban all private cryptocurrencies”; Australia’s Rest Super retirement fund stated that it plans to invest in crypto for its 1.8m members; Crypto.com became the first cryptocurrency platform to achieve SOC 2 compliance; and ConstitutionDAO, the DAO behind the failed bid to buy a rare copy of the US constitution, has decided to refund contributors’ money after saying the “project has run its course.”
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