Bitcoin, Cryptocurrency face a new challenge. Will this dent Crypto big time?
Cryptocurrency seems to be going through a lean patch. Bitcoin price has plummeted 30 per cent in recent months. S&P Global has downgraded its rating of the world’s largest stablecoin, Tether, citing an increase in higher-risk assets in the cryptocurrency’s reserves and “persistent gaps in disclosure”, the ratings agency said on Wednesday. The Securities and Exchange Commission’s possible plan to grant crypto companies relief from regulation to sell “tokenised” stocks risks harming investors, a group of stock exchanges said in a letter to the U.S. regulator this week.
Several crypto companies plan to sell crypto tokens linked to listed equities to retail investors who want to get exposure to stocks without owning them directly. But to…
