Crypto News – Although we are only on day 2 of the week, the crypto market has witnessed quite a lot of events. Here’s everything that happened on Tuesday.
April 23 Crypto News: Interesting Things Happening in the Crypto Sector Today
Authorities in Canada are suing Binance on the grounds that the exchange broke securities regulations. Analysts at Fidelity Digital Assets claim that Bitcoin can no longer be regarded as inexpensive. A cryptocurrency issue that the regulator mishandled is said to have led to the resignation of two SEC attorneys.
Did Binance Break the Law in Canada?
A fresh class-action lawsuit has been filed against cryptocurrency exchange Binance in Canada. The plaintiffs claim that the company has broken local securities regulations. A class-action complaint against Binance claims the company marketed cryptocurrency derivative products to individual investors without registering, and the Ontario Superior Court of Justice issued a certification petition for the litigation on April 19.
Bitcoin Is No Longer Cheap, Fidelity Says
Fidelity has changed its medium-term view of Bitcoin from positive to neutral, citing several criteria that indicate the cryptocurrency is no longer “cheap.” The “Bitcoin Yardstick,” which is comparable to the price-to-earnings ratio for stocks, indicated that the price of Bitcoin is currently at a fair value, according to a study report published by Fidelity Digital Assets on April 22. The fact that long-term Bitcoin owners are increasing selling pressure is what led Fidelity researchers to come up with their new, neutral stance.
Sudden Resignation of Two SEC Lawyers
Following a district court’s punishment against the regulator for egregious abuse and operating in bad faith in its action against cryptocurrency platform DEBT Box, two SEC attorneys have resigned from their positions. Michael Welsh and Joseph Watkins, the SEC’s primary attorneys in the DEBT Box case, reportedly left the agency after serving there for comparatively little time, according to Bloomberg. Following the SEC’s penalty by Chief Judge Robert K. Shelby for making false claims and misrepresenting facts in its DEBT Box case, resignations occurred.
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