As of February 23rd, Bitcoin, which is the cryptocurrency with the largest market capitalization, saw a rise of 0.31% and was trading at $24,7100.57. Meanwhile, Ethereum was trading at approximately $1,666.78.
In recent years, the regulatory landscape surrounding cryptocurrencies and blockchain technology has become increasingly complex. However, a recent report from JPMorgan suggests that the Securities and Exchange Commission (SEC) is emerging as the dominant regulator in the United States.
The report notes that the SEC has taken a more active role in regulating cryptocurrencies in recent years, with a particular focus on initial coin offerings (ICOs) and securities offerings. This has been driven in part by the agency's view that many ICOs and other cryptocurrency offerings are actually securities, and therefore subject to the same regulations as traditional securities offerings.
The SEC has also been working to clarify its position on other aspects of the cryptocurrency ecosystem, including custodial services, trading platforms, and exchanges. This has led to a greater degree of regulatory certainty for market participants, which is generally seen as a positive development.
While the SEC is emerging as the dominant regulatory force in the United States, it is not the only agency with an interest in cryptocurrencies. Other regulators, such as the Commodity Futures Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN), also have jurisdiction over certain aspects of the industry.
Major cryptocurrencies are trading as follows as of 9 am IST, 23 February 2023:
Bitcoin: $24,306.31 USD
Ethereum: $1,679.67 USD
Tether: $1.02 USD
USD Coin: $1.00
BNB: $313.31 USD
XRP: $0.3949 USD
Cardano: $$0.3872 USD
Polygon: $1.37 USD
Polkadot: $7.17 USD
Tron: $0.06987 USD
Shibu Inu: $0.00001337