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Highlights
- Former ASIC chairman Greg Medcraft has said Australia must encourage digital asset technology and investment.
- Bitcoin dropped around 3% overnight, taking the flagship token to just below US$45,200.
- Altcoin Sherpa tweeted yesterday that it is looking to accumulate Shiba Inu in anticipation that DOGE triggers rallies in SHIB.
Britain has unveiled an ambitious plan to entice top cryptocurrency players with tax and start-up incentives, leading to fears Australia could miss out on a multitrillion-dollar opportunity to make big money from the companies looking to disrupt global finance.
Speaking ahead of The Australian Financial Review Cryptocurrency Summit to be held in Sydney today, ASIC chairman Greg Medcraft has said Australia must encourage digital asset technology and investment.
Along with venture capitalist Mark Carnegie, Medcraft has called for a bipartisan approach to attract start-ups building blockchain technology.
New reforms proposed by the Senate look to bring in regulatory measures later this year, that will include the licensing of crypto asset exchanges.
Market News
Bitcoin dropped around 3% overnight, taking the flagship token to just below US$45,200.
Ethereum also saw a drop in price overnight, falling nearly 5% to US$3,335.
Altcoin News
A crypto trader has told his 170,000 followers that meme token Dogecoin and its biggest competitors, like Shiba Inu, are due for a big rise in price.
Also Read: Spell (SPELL) crypto: Will the recent rebound sustain?
The trader, Altcoin Sherpa tweeted yesterday that he’s looking to accumulate Shiba Inu in anticipation that DOGE triggers rallies in SHIB.
Sherpa added that SHIB and DOGE usually rally simultaneously and that he’s predicting that SHIB sees big gains sometime at the end of the current cycle.
SHIB dropped nearly two percent overnight while DOGE jumped nine percent.
Winners and Losers
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Data Source: CoinMarketCap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
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