Bitcoin Rises More Than 1% – European Union Wants to Tighten Crypto Regulations

Today (April 20) the Bitcoin price increased by 1.12% and moved at $41,341.0.

Bitcoin’s positive performance came after the Dow Jones Industrial Average closed 499 points higher on Tuesday (April 19), as investors watched the results of publicly traded companies.

  • The Dow Jones Industrial Average rose 499.51 points, or 1.45%, to close at 34,911.20.
  • The S&P 500 was up 1.61% to close at 4,462.21 points.
  • The NASDAQ rose 2.15% to close at 13,619.66 points.

Movements in the Crypto Market

Recently, European crypto industry leaders have objected to the disclosure of crypto transactions.

More than 40 cryptocurrency industry leaders have called on the European Union (EU) to refrain from requiring crypto companies to disclose transaction data and to try to reduce government restrictions. The EU wants to take more control over the fast-growing crypto platform.

While the EU and other countries around the world are moving forward with crypto regulation, the EU is ahead of the U.S. and the UK in developing a set of regulatory requirements for the crypto industry.

In a letter sent to finance ministers of the 27 EU member states on April 13, crypto sector representatives asked policymakers to confirm that their rules do not go beyond the current Financial Action Task Force (FATF) rules that set standards for combating terrorist financing and money laundering.

EU policymakers have already voted in favor of new measures to regulate digital assets. These include tracking transactions involving Bitcoin and other cryptocurrencies.

The regulations require crypto companies to collect and record information about people involved in cryptocurrency exchanges. This prompted U.S. company Coinbase Global Inc. to oppose the regulation.

The Spot Market is Open

Wednesday, April 20, 2022

Crypto
Updated at
USD
Price

Change

%Change
12.00 BTC41,334.00-257.03-0.62
12.00 ETH3,083.95-42.79-1.37
12.00 LTC112.52-0.58-0.51
12.00 BNB420.51-1.34-0.32
12.00 XRP0.77-0.01-1.63
12.00 ADA0.94-0.01-1.05
12.00 DOT18.59-0.16-0.85
12.00 DOGE0.140.00+1.56
12.00 UNI9.38-0.16-1.67
12.00 LINK14.12-0.25-1.74

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