Business News Asia
Bitcoin continues to fail to climb above the important $50,000 hurdle. Today (April 5), the Bitcoin price fell 1.08% to $46,638.24.
Bitcoin’s negative performance came after the Dow closed up 103.61 points on Monday. Meanwhile, short-term bond yields rose above long-term bonds again, indicating a possible recession.
- The Dow Jones Industrial Average rose 103.61 points, or 0.3%, to close at 34,921.88.
- The S&P 500 was up 0.81% to close at 4,582.64 points.
- The NASDAQ rose 1.9% to close at 14,532.55 points.
Movement in the Crypto Space
Recently, the UK government announced plans to create its own NFT to become a global leader in cryptocurrency.
The UK government announced yesterday (April 4) that it plans to build its own NFT to achieve its goal of becoming a global leader in cryptocurrencies.
The UK Minister for Politics John Glen, speaking at a fintech event in London, said: “This creation of money-like instruments for transactional purposes poses potential risks that go beyond those usually associated with existing payment systems. It is necessary therefore to ensure that in addition to the risks of the payment system itself, the risks of this money creation aspect are also managed.”
The initiative is part of the UK government’s efforts to become a leader in the crypto industry. Glen announced further plans for the UK to move forward with government regulation of digital assets.
The UK is also preparing to ask the Regulatory Commission to review the legal status of the blockchain community also known as the Decentralized Automation Organization (DAO).
The Spot Market is Open
Tuesday, April 5, 2022