Wall Street’s main regulator is boosting its scrutiny of brokerages that deal in cryptocurrencies, according to two people familiar with the matter, the latest sign that authorities want to know more about a burgeoning market that they fear might be full of misconduct.
Cryptocurrencies extended their rebound on Wednesday as Bitcoin traded above $7,500 for the first time in a month, shrugging off security and regulatory concerns that have plagued the digital currency for much of this year.
Don’t look to BlackRock Inc. to revive demand for cryptocurrencies. The world’s largest asset manager isn’t buying, because its clients have zero interest.
It might be the definitive sign that cryptocurrencies have arrived on Wall Street.
Billionaire Steven Cohen has invested in a hedge fund focusing on cryptocurrencies and blockchain-based companies, according to a person familiar with the matter.
In forming a new task force to protect consumers from fraud, the Trump administration made clear that one of the greatest threats to the public is just emerging: red-hot markets for crypto coins.
New regulatory notice calls for immediate notification if a broker-dealer, registered persons or affiliates are involved, or plan to be involved, in selling, trading or supporting digital currency initiatives.
This year’s cryptocurrency crash has saddled bulls with billions of dollars in losses, but the world’s largest virtual currency exchange is still making money hand over fist.
Bitcoin rallied to start July, giving a positive jolt to a digital-coin market that had lost about half of its value since early May.
Bitcoin approached its lowest price for the year after Japanese regulators hit six of the country’s biggest cryptocurrency trading venues with business-improvement orders.
Wealth managers should overcome their reluctance to discuss cryptocurrency investments with their younger rich clients, to prevent them from turning to other specialists for advice, according to consultant Capgemini SE.