<p><a href="https://www.foxbusiness.com/markets/iex-taps-potential-partner-regulated-crypto-exchange" target="_blank" rel="nofollow">Via Fox:</a></p><ul><li>Brad Katsuyama, the Chairman of the stock exchange IEX and his staff are now in talks with publicly traded cryptocurrency exchange Coinbase to create a federally approved digital asset marketplace, people with direct knowledge of the matter tell Fox Business. </li></ul><p>BTC not a lot changed </p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p><a href="https://www.foxbusiness.com/markets/iex-taps-potential-partner-regulated-crypto-exchange" target="_blank" rel="nofollow">Via Fox:</a></p><ul><li>Brad Katsuyama, the Chairman of the stock exchange IEX and his staff are now in talks with publicly traded cryptocurrency exchange Coinbase to create a federally approved digital asset marketplace, people with direct knowledge of the matter tell Fox Business. </li></ul><p>more to come </p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>The Japanese unit of failed cryptocurrency exchange FTX has said it would allow customers to withdraw deposits of fiat currency and crypto assets beginning Tuesday</p><ul><li>can be made via the website of Liquid Japan, a crypto exchange it bought this time last year</li></ul><p>Withdrawals have been suspended for months. </p><p>The Samburglar</p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>Hong Kong’s securities regulator, the Securities and Futures Commission:</p><ul><li>said cryptocurrency-trading companies would need to leave the city if they don’t plan on getting licenses</li></ul><p>And released proposed new rules including:</p><ul><li>would require crypto exchanges to ringfence customer deposits</li><li>put controls in place to keep crypto keys secure</li><li>make sure that no more than 2% of customer funds are stored in a so-called “hot wallet” </li></ul><p>SFC flagged a June introduction of new rules. </p><p>Bitcoin update:</p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>Binance Chief Executive Officer Changpeng Zhao denied that the exchange is considering delisting all US-based cryptocurrencies as the crypto industry prepares for a US crackdown.</p><p>"False" he tweeted in response to a headline.</p><p>He also address the main story in the Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-02-17/binance-holdings-explores-retreat-from-the-us-as-crypto-crackdown-escalates" target="_blank" rel="nofollow">report</a>, that he is considering pulling back from US partners.</p><p>"We pulled back on some potential investments, or bids on bankrupt companies in the US for now,," he wrote.</p><p>The initial report said Binance was considering ending relationships with US business partners after "its relationships with a key banking partner and stablecoin issuer ran into trouble amid intense scrutiny from authorities, according to a person familiar with the issue."</p><p>The report said they were looking at severing ties with banks.</p><p>Bitcoin is down 1.9% today after two strong days. It was down more than double that earlier but has pared losses.</p> This article was written by Adam Button at www.forexlive.com.

<p>The most recent crypto news I have is this:</p><ul><li><a href="https://www.forexlive.com/Cryptocurrency/canada-will-tighten-requirements-for-cryptocurrency-exchanges-operating-in-the-country-20230216/" target="_blank" rel="follow" data-article-link="true">Canada will tighten requirements for cryptocurrency exchanges operating in the country</a></li></ul><p>Of course correlation is not causation, so make up your own mind\.</p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>The Canadian Securities Administrators (CSA), the overarching market regulator in the country, will tighten requirements for cryptocurrency exchanges. The info comes via news reports citing two unnamed sources "who have been briefed on the plans".</p><p>The CSA declined to reveal any details, saying it would do so "in the near future.”</p><p>-</p><p>So, not much to go on. In the US the SEC is ratcheting up its oversight of crypto in the wake of the FTX debacle. </p><p>I posted this on crypto earlier in the week that contributed some much-needed positive sentiment in the sector:</p><ul><li><a href="https://www.forexlive.com/Cryptocurrency/cme-says-it-will-expand-its-suite-of-event-contracts-to-include-bitcoin-futures-20230215/" target="_blank" rel="follow" data-article-link="true">CME says it will expand its suite of event contracts to include Bitcoin futures</a></li></ul><p>BTC update:</p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>Bitcoin has continued the run up today. Remember yesterday, the price moved up $2121 or 9.55%. Today the gain is more contained with the price currently up $554 or 2.28%. </p><p>The high today took the price up $938 at the high. That high reached $25270 which got within $131 of the high of a swing area on the daily chart at $25401.05. The area between $24258 and $25401.05 is home to a number of swing highs, and a swing low going back to May 2022. The current price is trading at $24,799</p><p>A move above the aforementioned swing area, would open the door for further upside momentum with the 38.2% retracement up to $28,074 as the next major target on the daily chart. </p> This article was written by Greg Michalowski at www.forexlive.com.

<p>The Chicago Mercantile Exchange (CME) is a global leader in derivatives trading. The exchange has announced that its event contracts will include Bitcoin futures from March 13, subject to regulatory approval.</p><p>CME Event Contracts are a relatively new financial product. Event contracts are currently offered on products such as:</p><ul><li>gold, silver, copper, crude oil, natural gas, E-mini S&P 500, E-mini Nasdaq-100, euro-U.S. dollar foreign exchange futures, and others</li><li>they are a very short term, daily expiring product and have been likened to binary options (<a href="https://www.financemagnates.com/binary-options/analysis/cmes-event-contracts-are-binary-options-back/" target="_blank" rel="follow">more here if you are interested</a>) </li></ul><p>BTC liked the news:</p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p><a href="https://www.wsj.com/articles/crypto-firm-paxos-faces-sec-lawsuit-over-binance-usd-token-8031e7a7" target="_blank" rel="nofollow">Wall Street Journal (gated) </a>with the report. In brief:</p><ul><li>The Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws, according to people familiar with the matter</li><li>The SEC’s enforcement staff issued a letter to Paxos known as a Wells notice, which the agency uses to inform companies and individuals of a possible enforcement action, according to the people.</li><li>The notice alleges that Binance USD, a digital asset that Paxos issues and lists, is an unregistered security, according to the people.</li></ul><p>---</p><p>Bitcoin update, its lost ground but remains above US$20K so far. It looked shaky last week, adding to recent losses (<a href="https://www.forexlive.com/Cryptocurrency/bitcoin-hourly-chart-looks-vulnerable-20230209/" target="_blank" rel="follow">Bitcoin hourly chart looks vulnerable</a>)</p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>I don't like the look of the bitcoin chart... and when you're trading crypto there isn't much else to go on. </p><p>There was a weeks-long period of consolidation around $23,000 in an impressive rally from $17,000 but there was a false breakout to $24,000 and yesterday it broke below the range. The selling has continued today, albeit at a modest pace. It's down another $180 to $21,650.</p><p>The bulls will be hoping that the mid-January highs now act as support and that idea has some traction today as it flattens out. Like all markets, bitcoin will be watching Wednesday's US CPI report and hoping for good news on the inflation front. If prices are high enough to convince the market that 5.50% Fed funds are coming then expect another selloff that pressures the $20,500 to $20,000 zone. That will need to hold or we will see another day like yesterday.</p><p>As for broader markets, the weakness in bitcoin has been a forerunner for risk aversion in the past, especially in tech stocks. There's also a three-candle reversal in TSLA brewing after a 100% climb from the bottom.</p> This article was written by Adam Button at www.forexlive.com.

<p>Bitcoin had a look at the late-January lows in Asian trading but support held. This time it didn't and it's been a quick plunge lower, falling to $21,950 from $22,500 in minutes. </p><p>That has the daily chart looking like this:</p><p>That's not a good sign for crypto and <a href="https://www.forexlive.com/terms/e/ethereum/" class="terms__secondary-term" id="f19ba495-1aa3-445e-bef7-587c78e1c513" target="_blank">ethereum</a> is lagging, down 5% to <a href="https://www.forexlive.com/terms/b/bitcoin/" class="terms__main-term" id="40c895b3-a119-446c-9ead-2735a79a3f80" target="_blank">Bitcoin</a>'s 4%. It's also not a good sign for broad risk trades, which have tracked -- and tended to lead -- BTC for much of the past year.</p><p>The Nasdaq is down 0.6% today as Google continues to get pounded on indications it's a step behind in the AI race.</p><p>For crypto specifically, the SEC is going hard after brokers and that's going to make life tough in the space.</p><p>“We’re hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers,” Coinbase's <a href="https://www.cnbc.com/2023/02/09/coinbase-ceo-brian-armstrong-sounds-alarm-on-a-potential-staking-crackdown-.html?utm_term=Autofeed&utm_medium=Social&utm_content=Main&utm_source=Twitter#Echobox=1675972011" target="_blank" rel="nofollow">said </a>today.</p><p>I still tend to think this is all noise ahead of CPI next week but BTC/USD looks like it could go down and test $21,000.</p> This article was written by Adam Button at www.forexlive.com.

<p>I posted <a href="https://www.forexlive.com/Cryptocurrency/bitcoin-falling-down-the-elevator-shaft-circa-225k-20230209/" target="_blank" rel="follow">earlier </a>on the slip for BTC/USD, posting a zoomed-in chart to demonstrate the drop. </p><p>Zooming out though, on an hourly chart, it looks vulnerable to further falls.</p><p>I've noted 'support' lines on the chart, ar are they? Looks precarious to me really. </p><p>Technical analysts, what say you?</p><p>As for news, the only snippet I've seen fresh is that the CEO of Coinbase says he's heard chatter about the place that the US SEC would like to ban cryptocurrency staking. Says he hopes that's not the case as it would be a terrible path for the US if it happens.</p><p><a href="https://www.forexlive.com/terms/b/bitcoin/" class="terms__main-term" id="40c895b3-a119-446c-9ead-2735a79a3f80" target="_blank">bitcoin</a></p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>BTC/USD, having a bit of a slide:</p> This article was written by Eamonn Sheridan at www.forexlive.com.

<p>Munger is vice chairman of Berkshire Hathaway and long-time Buffett colleague.</p><p>He write an op-ed in the Wall Street Journal (gated) saying crypto displays "wretched excess" that has continued "because there is a gap in regulation". </p><ul><li>A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity. Obviously the U.S. should now enact a new federal law that prevents this from happening.</li></ul><p>More here at the piece, which is, as I say, gated:</p><ul><li><a href="https://www.wsj.com/articles/why-america-should-ban-crypto-regulation-economy-finance-china-england-trading-currency-securities-commodity-gamble-11675287477" target="_blank" rel="nofollow">Why America Should Ban Crypto</a></li></ul><p>Bitcoin update, at least the punters are smiling with its recent move higher:</p> This article was written by Eamonn Sheridan at www.forexlive.com.