• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
Bitcoin

Yellen’s Positive Remarks About Biden’s Crypto EO Push Bitcoin Past $41,000

Christian Encila by Christian Encila
11 months ago
in Bitcoin, Cryptocurrency news
Reading Time: 2 mins read
Advertisement

It only took an unintentionally flattering remark from a high-ranking US official to propel Bitcoin above the $41,000 level.

Bitcoin (BTC) advanced early on Wednesday, boosting the entire crypto market, as US Treasury Secretary Janet Yellen’s inadvertently disclosed remarks indicated that US President Joe Biden’s long-awaited crypto directive will take a constructive approach to regulating the digital asset sector.

The crypto order requires steps to foster innovation while managing industry risks. The secretary’s statement appeared in print a day early, reportedly because of a an error, and was promptly removed, but was retained on a web cache.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Bitcoin, which has been trading below $40,000 for the last seven days, rebounded more than 8% Wednesday, hitting $41,000 once more.

Related Article | Leading News Outlets In Ukraine Aim To Secure $1 Million By Selling NFTs

Crypto EO Detailed Report

According to Yellen, the US Treasury will collaborate with interagency partners to develop a detailed report on the future of money and related payment systems in accordance with Biden’s EO.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Since early January, Biden’s White House team of financial experts has been working on an executive order on digital assets, which an unnamed source said will help bring “coherence to what the US government is trying to accomplish in this arena.”

Bitcoin was trading around $38,135 at this time Tuesday, prior to Yellen’s comments. Nonetheless, BTC quickly recovered to surpass $41,500 shortly after the statement was delivered.

BTC total market cap at $795.45 billion on the daily chart | Source: TradingView.com

Yellen Remarks Lift Bitcoin, Other Cryptos

Notably, Bitcoin is not the only cryptocurrency that has experienced a rally. Evidently, Yellen’s partial disclosure favors all cryptos in the top ten global crypto rankings.

According to Coingecko data, Ethereum (ETH) has increased by more than 7% in the previous 24 hours and is presently selling at roughly $2,715 per coin.

Similarly, Binance Coin (BNB) is up 4.5%, while Cardano (ADA), Terra (LUNA), Ripple (XRP), Solana (SOL), and Avalanche (AVAX) are up 8.5%, 18.4%, 5.6%, and 3%, respectively.

“Based on Yellen’s words, the crypto EO is a welcome development that calls for a coordinated and comprehensive approach to digital asset regulation that promotes responsible innovation,” Cameron Winklevoss of Gemini Trust wrote on Twitter.

Related Article | Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For Bitcoin

Mixed Reactions

Thus far, notable members of the industry have had a mixed reaction. Evan Van Ness, founder of Week In Ethereum, described the speech as a “nothingburger of a statement.”

However, Altered State Machine founder Aaron McDonald expressed a more somber reaction to the announcement.

McDonald stated in a tweet that Yellen’s remarks demonstrate her want to “ensure we keep the most potent weapon in our arsenal – the USD as global settlement.”

Traders anticipate that the Biden administration will enact stricter cryptocurrency laws as part of its efforts to prevent Russia from escaping the mountain of sanctions put on the country for its ongoing invasion on Ukraine.

However, Yellen’s favorable comments appear to indicate that the law will certainly benefit the new asset class.

Featured image from Decrypt, chart from TradingView.com
Tags: BidenbitcoincryptoYellen
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Chiliz

Chiliz Chain 2.0 Goes Live, Sending CHZ Up 7.06%

4 hours ago
Polygon MATIC MATICUSDT Price

MATIC Spikes As Ethereum Whales Show Interest, Buying Over 2 Million Tokens

4 hours ago
Litecoin

Litecoin Sets Eye On $107, But It Needs To Cross This Major Hurdle

6 hours ago
bitcoin

Another Bitcoin Metric Turns Bullish With Price At $23,000 And Forecasts More Profits

8 hours ago
Crypto Powerbridge Technologies mining

Bearish Signal? DCG Starts Selling Grayscale Crypto Shares At Almost 50% Discount

10 hours ago
crypto

This Little-Known Crypto Erupts 1,300% In Last 24 Hours – Find Out Here

14 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

SEC Calls for Bitcoin (BTC) and Ethereum (ETH) Regulation As Snowfall Protocol (SNW) Presale Ends on a High Note

February 8, 2023

Chainlink (LINK) and Orbeon Protocol (ORBN) Outperform the Market, Experts Predict Big Growth in 2023

February 8, 2023

ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF CRYPTO” TV SHOW, KILLER WHALES

February 7, 2023

SinVerse Studios Announces $1 Million Buyback Program for the SIN token

February 7, 2023

Join the Revolution: Invest in STARSTAKING for 25% APY and the Chance to Win Big with the DeFi Lottery Program

February 7, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.