The Basel Committee on Banking Supervision (BCBS) has created a proposal for the banks it supervises to disclose their exposure to cryptocurrencies starting in 2025. What does this mean for the cryptocurrency market? Does this affect Bitcoin SV (BSV) and new VC Spectra (SPCT)?
Let's cover BCBS news before checking out the latest news on Bitcoin SV and participating in the VC Spectra pre-sale.
Summary
BCBS proposes that banks disclose all their crypto activity starting in 2025.
Bitcoin SV Rises Higher Despite Fake iShares Bitcoin ETF Story; Forecasts indicate a minimum BSV value of $60 by 2024.
VC Spectra (SPCT) is a few pre-sale stages away from its official launch; will be worth $0.080 in 2024
BCBS banks may be required to disclose their cryptocurrency holdings from 2025
The BCBS is a committee of banking authorities with 45 members from 28 countries. It has proposed a regulation in which banks operating in member countries will have to disclose their cryptocurrency holdings from January 1, 2025.
The recent collapses of Signature Bank and Silicon Valley Bank have partly prompted this potential move. These institutions were involved in massive cryptocurrency lending and other related activities, which the BCBS seeks to discourage.
However, many analysts believe that cryptocurrencies were not the main catalyst for the fall of the two banks. Still, the proposal would only affect a small portion of the banking industry. Therefore, other banks and financial institutions will continue to participate, which is an advantage for major altcoins like Bitcoin SV (BSV) and VC Spectra (SPCT).
Bitcoin SV (BSV) Emerges After Fake iShares Bitcoin ETF Story
Bitcoin SV (BSV) has been a standout performer in recent months thanks to progress related to Bitcoin (BTC). Requests for exchange-traded funds (ETFs) for the former have boosted the price of Bitcoin SV (BSV).
More recently, Cointelegraph posted on X/Twitter that the SEC (Securities and Exchange Commission) approved BlackRock's iShares ETF. This led to a 16% increase in Bitcoin SV (BSV) from $33.75 to $39.30 on October 16, 2023. Unfortunately, it turned out that the story was not true.
While Bitcoin (BTC) retreated slightly after this, Bitcoin SV (BSV) rose and is now trading at $44.32. Most forecasts expect a further price rise, with minimum values โโof $60 and $90 for 2024 and 2025 for Bitcoin SV (BSV), respectively.
Let's conclude the news by learning more about VC Spectra (SPCT) and why it is among the best cryptocurrencies to buy in October.
Long-awaited listing for Spectra VC (SPCT)
VC Spectra (SPCT) is a decentralized hedge fund for promising technology and blockchain startups. The service prides itself on being a positive force for social and environmental change as it is committed to sustainable investing.
VC Spectra (SPCT) will offer seed and Series A funding, favorably positioning the platform for the highest returns as the funded companies grow. The protocol plans to manage risks and maximize profits from its investments using various advanced strategies ranging from hedging to diversification.
VC Spectra (SPCT) also has access to machine learning algorithms, benefiting from cutting-edge insights to identify unique profitable opportunities. VC Spectra (SPCT) works with smart contracts, fostering an autonomous experience for storing funds, managing portfolios, and allocating profits without third parties.
Like other DeFi companies, VC Spectra has a utility token, SPCT, which has several advantages. These include voting rights on governance proposals, access to exclusively discounted pre-ICOs, and quarterly dividends.
Buyers can invest in SPCT for $0.055 in Stage 4 of the coveted VC Spectra pre-sale. The token will be worth $0.080 in the last pre-sale phase, Stage 6, which is an increase of 45%. Aside from this comeback, this period would precede the long-awaited debut of VC Spectra (SPCT) on crypto exchanges and its official launch.
Learn more about the VC Spectra pre-sale here:
