Bitcoin, Cryptocurrencies

Bitcoin, Cryptocurrencies

More US finance giants tiptoe into cryptoassets | Malay Mail

More US finance giants tiptoe into cryptoassets | Malay Mail

13/6/2021 5:19:00 AM

More US finance giants tiptoe into cryptoassets | Malay Mail

WASHINGTON, June 13 — Investing in bitcoin and other digital currencies remains a risky game where the rules could change significantly, but the payoff could be big.  In response to this dilemma, several leading US financial heavyweights are staying on the sidelines, while an increasing...

channel for the latest updates.WASHINGTON, June 13 — Investing in bitcoin and other digital currencies remains a risky game where the rules could change significantly, but the payoff could be big. In response to this dilemma, several leading US financial heavyweights are staying on the sidelines, while an increasing number are proceeding cautiously into the growing world of cryptoassets.

Tinjauan dapati 85% mahu Muhyiddin letak jawatan | The Malaysian Insight Survey shows 85% want Muhyiddin to quit | The Malaysian Insight Even Umno didn’t know about ‘revoked’ emergency ordinances - Zahid

“My own personal advice to people: Stay away from it,” JPMorgan Chase Chief Executive Jamie Dimon said recently, before adding, “That does not mean the clients don’t want it.”JPMorgan, the biggest US bank by assets, is currently assessing how it can help clients transact in cryptocurrency, Dimon said last month at the bank’s annual meeting.

Formerly something of an investment sideshow dominated by computer geeks, cryptocurrencies are sparking greater interest among mainstream investors after a big jump in bitcoin prices in 2020 and early 2021.On Thursday, the venerable giant State Street announced the creation of a new digital finance division. headtopics.com

On Wednesday, the head of online trading firm Interactive Brokers vowed to establish online trading of cryptocurrencies on the platform by the end of the summer.Like its rivals Charles Schwab and Fidelity, Interactive Brokers does not now offer bitcoin trading on its platform, although it does give clients the option to invest in some assets that include cryptocurrencies or bitcoin futures.

Investors who want to trade bitcoin can currently turn to Robinhood or the cryptocurrency specialist Coinbase.ForUsAll, a platform that manages retirement accounts for small businesses, on Monday announced an agreement with Coinbase that allows clients to invest up to five percent of their balances in cryptocurrencies.

Investment bank Morgan Stanley in March said it would allow wealthier clients to invest in bitcoin funds, while Goldman Sachs recently established a team dedicated to trading cryptocurrencies.The chief executives of Wells Fargo, Citigroup and Bank of America said at a congressional hearing in late May that they are approaching the cryptocurrency landscape with caution.

Fidelity Investments, which established a digital assets division in 2018 to execute cryptocurrency trades for hedge funds and other institutional investors, filed papers with US securities regulators for a bitcoin exchange traded fund (ETF).The move could potentially expand cryptocurrency investments to a broader range of individual investors. headtopics.com

Chen Long 'psiko' Zii Jia | Harian Metro Momota tersungkur di bumi sendiri | Harian Metro Rise in admissions to Kelantan Covid centres after Aidiladha

Tougher rules ahead?Still, many financial players are reluctant to dive into an investment realm associated with black markets that has sparked interest from US and global regulators.There is also remarkable volatility, with bitcoin beginning 2021 at around US$30,000 (RM123, 240) and hitting US$63,000 in April before falling back to US$34,000 in June.

“Speculators and those suffering from FOMO (the ‘fear of missing out’) will surely continue to flock to cryptos in the hopes of achieving huge returns,” said Ian Gendler of research firm Value Line.But Gendler urges clients to avoid cryptocurrency investments, citing the elevated risk and the lack of a tangible asset compared with putting money into commodities or a company. Bitcoin and other digital money is also not backed by governments, he noted.

“Cryptocurrencies are only worth what the next investor is willing to pay,” he said.Still, many in finance do not see cryptocurrency as a transient phenomenon.“We do believe bitcoin, and more broadly cryptoassets, are a new and emerging asset class that will likely be here to stay,” said Chris Kuiper, vice president at CFRA Research.

CFRA expects “the large banks as well as smaller financial institutions to continue to adopt them, particularly as the infrastructure and legal/regulatory framework continues to be built out,” Kuiper added.The Basel Committee, which coordinates regulation among central banks, this week proposed new rules that would require banks to set aside capital for cryptocurrency investments. headtopics.com

Gary Gensler, the new head of the Securities and Exchange Commission, has also said he wants to bolster protections for cryptocurrency investors, telling CNBC that such investors “don’t have full protections that they have in the equity markets or in the commodity futures market.” — AFP

Read more: Malay Mail »

No hybrid Parliament sitting, all MPs allowed to attend, says Art Harun

KUALA LUMPUR (Bernama): All the 220 Members of Parliament (MPs) are allowed to attend the special sitting, which begins on Monday (July 26), says Dewan Rakyat Speaker Datuk Azhar Azizan Harun.

US, EU, Spain pledge more than US$85m to address C.American migrant crisis | Malay MailSAN JOSE (Costa Rica), June 11 ― The United States, European Union and Spain yesterday pledged more than US$85 million (RM349.7 million) in aid to Mexico and Central America to offer alternatives to would-be migrants seeking a better life. Washington has pledged US$57 million on top of US$310...

America may be 'back' at G7, but allies' doubts about US democracy linger | Malay MailWASHINGTON, June 11 ― In 2017 the president of the United States shocked Washington's Western allies during his first European trip, scolding them for failing to pay their “fair share” on defence, physically shoving aside one prime minister, and white-knuckling another leader in a public...

From the Bidens with 'LOVE': US first lady's jacket brings message of hope | Malay MailCARBIS BAY (England), June 11 ― On their first overseas trip since her husband Joe became president, US first lady Jill Biden had a simple message for the world emblazoned across the back of her jacket: “LOVE”. “Well, I think that we're bringing love from America,” said Biden of her black...

US commerce chief expressed concerns to Chinese counterpart, Washington says | Malay MailSHANGHAI, June 11 — The Biden administration’s top commerce official told her Chinese counterpart Washington is concerned about Beijing’s industrial policies, the Commerce Department said on Thursday, the latest high-level exchange as the countries spar over disagreements. The department said... Bst novel

Ringgit opens higher against US dollar in early trade | Malay MailKUALA LUMPUR, June 11 — The ringgit opened higher against the US dollar today as the greenback loses its ground due to rising inflation, a dealer said.  At 9.02am, the local currency rose to 4.1150/1200 against the greenback from Thursday's close of 4.1200/1220. ActivTrades trader...

Ringgit strengthens against US dollar at the close | Malay MailKUALA LUMPUR, June 11 — The ringgit strengthened against the US dollar at the close today as investors looking at the latest US inflation data were sufficiently convinced that the rise in prices may be temporary, said an analyst. At 6pm, the local note stood at 4.1070/1100 against the greenback... Salah. It is USD that has weakened Qasim telah melihat mimpi ilahi sejak berusia 5 tahun. Mimpi pertamanya adalah mimpi menaiki tangga yang menuju ke awan. Mimpi Qasim mempunyai banyak petunjuk untuk masa depan umat manusia. Lawati atau cari Muhammad Qasim Dreams