Bitcoin surged more than 8% to reach $23,000 – Circle calls on U.S. to regulate stable coins with national policy

Bitcoin prices rose 8.22% today (July 20), moving at $23,437.6.

Bitcoin price positive movement came after the Dow Jones Index closed 754 points higher on Tuesday (July 19), driven by strong earnings forecasts.

  • The Dow Jones Industrial Average rose 754.44 points, or 2.43%, to close at 31,827.05.
  • The S&P 500 was up 2.76% to close at 3,936.69 points.
  • The Nasdaq rose 3.11% to close at 11,713.15 points.

Circle is calling on U.S. lawmakers to regulate stable coin with a national policy to create parity between banks and digital financial institutions for regulatory clarity.

Dante Disparte, Circle Chief Strategy Officer and Global Head of Policy, has called on U.S. lawmakers to balance the risks by developing regulatory guidelines for stable coins.

Disparate discusses 18 principles established by Circle as part of its efforts to establish a stable coin policy in the U.S.

The circle is the issuer of the USD Coin (USDC), which has a reported turnover of $54 billion, stressed concerns about “market parity” between banks and non-banks.

“Harmonizing nationwide regulatory and coverage frameworks for greenback digital currencies advances U.S. financial competitiveness, job creation and cost system optionality, whereas averting a dangerous home ‘fintech constitutional disaster,’ and world regulatory arbitrage,”

Disparte said.

The Spot Market is Open

Wednesday, July 20, 2022

Crypto
Updated at
USD
Price

Change

%Change
10.00 BTC23,309.38+1,190.61+6.38
10.00 ETH1,544.84-6.96-0.45
10.00 LTC58.06+0.90+1.57
10.00 BNB266.52+4.66+1.78
10.00 XRP0.37+0.01+3.32
10.00 ADA0.52+0.03+6.64
10.00 DOT7.83+0.06+0.79
10.00 DOGE0.07+0.00+2.93
10.00 UNI7.40-0.21-2.79
10.00 LINK7.37+0.35+5.06

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