Bitcoin Slips

Crypto markets were lower in U.S. midday trading, underperforming stocks as the correlation between bitcoin and the Standard & Poor’s 500 Index fell to the lowest point since January. The CoinDesk Market Index fell by 1.6% over the past 24 hours. Bitcoin (BTC), the largest cryptocurrency by market value, was down 1.7%, changing hands in a range between $19,300 and $19,700. Ether (ETH), the second-largest by market capitalization, followed a similar trajectory, down 2% to about $1,300 as of press time. Read full here

US Commissioner pushes lawmakers to speed up with crypto regulations

While the European Union moves swiftly through the legislative stages with the Markets in Crypto-Assets (MiCA) framework, a groundbreaking framework for cryptocurrencies, its financial services chief implores its American counterparts to keep up to ensure that the upcoming regulations will be global, not local. Mairead McGuinness, commissioner for financial services at the European Commission, highlighted to the Financial Times on 18 October that the regulatory initiatives should have a worldwide scope. McGuinness stated, “We do need to see other players also legislate. We need to look at global regulation of crypto.” Read details here

‘Crypto’, a major payment disruptor: Walmart CTO

Suresh Kumar, the global chief technology officer (CTO) of Walmart, predicted that in the future, customers would use cryptocurrencies to pay for both digital and tangible goods, making this a “major” area of disruption, as reported by Cointelegraph. According to Cointelegraph, on October 17, Kumar discussed Walmart’s views on digital assets while stating that “crypto will become an integral component of how people transact” for both physical and virtual items. Kumar was speaking at the Yahoo Finance All Markets Summit. Read more here