Cryptocurrency trading volumes fell by 56% in June
Users’ interest in digital assets decreased amid the collapse of quotations and regulatory problems
In June, the volume of cryptocurrency trading fell by 56% compared to the indicators of May, according to a new EXMO report (available to RBC-Crypto). At the same time, the number of traders on the trading floor decreased by 38% and transactions by 35%.
The share of Tether and bitcoin in terms of trading volumes on the cryptocurrency exchange were about the same – about 21%. At the same time, the number of transactions with BTC in May was slightly higher than with USDT. The company explained that this indicates that traders were more inclined to fix positions in Stablecoin in June.
At the end of June, 81% of cryptocurrencies on the trading floor were in the negative. Of these, 35% lost more than 30% of their value, more than half fell in price by 15% or more.
U.S. Senator Demanded SEC Protect Crypto Investors
According to Elizabeth Warren, the U.S. Securities and Exchange Commission should use all of its powers to close gaps in the regulation of the digital asset market
Democratic Senator from the U.S. state of Massachusetts Elizabeth Warren sent a letter to the head of the U.S. Securities and Exchange Commission (SEC) Gary Gensler, calling on the regulator to protect consumers when investing in cryptocurrency, reports Reuters. Warren also expressed concern in the letter about the lack of regulation of the crypto market, which is rapidly growing and evolving.
UK authorities will tighten controls on cryptocurrency advertising
The U.K. Advertising Standards Authority (ASA) will crack down on misleading marketing of investments in digital assets
The Advertising Standards Authority (ASA) of Great Britain will tighten control over cryptocurrency advertising, reports Financial Times. According to the newspaper, the regulator will stop the publication of misleading advertisements for investments in cryptocurrency assets. The ASA will pay special attention to online platforms and social networks.