Kamala Harris's stance on crypto regulation could impact you.

Kamala Harris Poised to Continue Tough Stance on Crypto Regulation

Vice President Kamala Harris is expected to uphold the Biden administration's stringent approach to cryptocurrency regulation. Harris is reportedly working with Brian Deese and Bharat Ramamurti, former economic advisers who opposed the Clarity for Payment Stablecoins Act of 2023, criticizing it as too lenient on issuers.

This choice of advisers suggests Harris may continue the administration's tough stance on crypto, according to Alex Thorn, head of research at Galaxy. Thorn highlighted this in an Aug. 13 post on X, stating: "NEW EVIDENCE THAT @KamalaHarris WILL CONTINUE CRYPTO CRACKDOWN. Her advisor choice suggests she will keep Biden’s hostile attitude to crypto."

Harris is expected to outline her economic policy agenda in a mid-August speech, which could provide further insights into her approach to cryptocurrency regulation.

Mt. Gox Funds in Motion: Could Payouts Be Imminent?

A major development in the long-running Mt. Gox saga has unfolded. A wallet holding a staggering $1.95 billion in Bitcoin, linked to the infamous collapsed exchange, has just initiated test transactions.

This wallet, identified as bc1q26, is strongly suspected to belong to Bitgo, the final exchange tasked with distributing funds to Mt. Gox creditors. The recent activity has ignited speculation that long-awaited payouts to creditors could be on the horizon.

As the situation develops, we will continue to provide updates on this crucial chapter in the cryptocurrency world.

Stay tuned for more information.

Bitcoin Faces Headwinds: Death Cross Looms

Bitcoin's recent price decline, exacerbated by a 3% drop in the past 24 hours to around $58,400, has analysts on high alert.

A particularly ominous sign is the formation of a "death cross" – a technical indicator where the 50-day moving average crosses below the 200-day moving average. This often precedes a downward price trend.

YouHodler Risk Manager Sergei Gorev warns that while a short-term rebound is possible, the overall outlook for the crypto market remains bearish. "We may soon see a new wave of cryptocurrency sales," he predicts.

As the market grapples with this bearish signal, investors are advised to exercise caution and monitor price movements closely.

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