Altcoin News by Thebittimes.Com

The New York Stock Exchange is reportedly polling traders to see if they want to open trading up 24 hours a day, seven days a week, similar to cryptocurrency and forex markets. Leading the charge on the proposed change is infamous hedge fund manager Steve Cohen, who is attempting to open up his own exchange called 24 Exchange, which currently has tradeable markets out of Bermuda. Last year, 24 Exchange discontinued trading in crypto products and gave up on a bid to open up trading of US equities but it’s restarting the process now. The current move wouldn’t be the first time that the NYSE has considered plans to become a 24/7 trading venue. Indeed, in 1990 John Phelan Jr., chairman of the NYSE , proposed a plan to ensure market s were never closed. At the time, the reasoning was that the NYSE was losing market share to foreign markets like the London Stock Exchange. The proposal would’ve brought 24-hour trading to the NYSE trading floor by 2000, but nothing ever materializ...

Adams said New York is still focused on becoming a crypto hub, but statewide efforts to reduce emissions can be combined with this goal. New York City mayor Eric Adams is still focused on making New York a crypto hub, but he believes that goal can be combined with statewide efforts to curb environmental costs related to crypto mining, according to reports on Nov 25.  The comments follow the new law signed by New York governor Kathy Hochul, banning proof-of-work (PoW) mining activities for two years in the state. The mayor, known as a crypto proponent, said in June he would ask the governor to veto the bill. With the bill signed into law, the city will work with legislators to find a balance between the crypto industry development and legislative needs, Adams told The NY Daily News: “I’m going to work with the legislators who are in support and those who have concerns, and I believe we are going to come to a great meeting place.” The PoW mining moratorium will not only prohibit new mi...

The NYAG clarified that digital assets differ from blockchain technology, and it has no issues with citizens purchasing stakes in publicly traded blockchain-based businesses in retirement accounts. The turmoil surrounding crypto exchange FTX and Sam Bankman-Fried (SBF) reaffirmed regulators’ belief about the need for stricter oversight across the crypto ecosystem. Seeking investor protection against a similar fallout, New York Attorney General (NYAG) Letitia James recommended prohibit ing crypto investments in defined contribution plans and individual retirement accounts (IRAs). In a letter addressed to the members of the U.S. Congress, James requested legislation that would bar United States citizens from purchasing cryptocurrencies and digital assets using their funds in IRAs and defined contribution plans such as 401(k) and 457 plans. However, a survey from October 2022 showed that nearly 50% of U.S.-based investors want to see crypto become a part of their 401(k) retirement pl...