Bitcoin, XRP Fall in a Bad Week for Cryptos. SEC Backs Nasdaq Plan to Tokenize Securities. — Barrons.com
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By Alex Kozul-Wright
Bitcoin was treading water at around $70,000 early Friday. The world's premier currency is on track to finish this week in the red, as energy price jumps linked to the war in Iran overshadowed a key U.S. regulatory breakthrough for digital assets.
Bitcoin was down 0.1% to $70,305, according to CoinDesk data. Over the past five trading days, the world's biggest cryptocurrency dropped by around 6.1%. Elsewhere, Ethereum and XRP were also trading in the red Friday — by 1.6% and 1%, respectively.
The Securities and Exchange Commission approved Nasdaq's plan Wednesday to allow the trading of certain equities and exchange-traded products in tokenized forms on the blockchain, the technology that underpins cryptocurrencies, The Wall Street Journal reported.
While the move was widely perceived as a regulatory win for digital assets, signs that the Iran war could stoke inflation and push central banks toward tighter monetary policy have been a net negative for risk assets such as cryptocurrencies this week.
Higher-for-longer interest rates, or even the prospect of rate hikes, are bad news for Bitcoin.
Write to Alex Kozul-Wright at alexander.kozul-wright@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
source: https://www.tradingview.com/news/DJN_DN20260320001362:0/
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