Daily News Headlines | Latest Crypto News (11th June) | Cryptoknowmics

Here are the top 5 crypto news for the day!

Let’s dive into the news headlines one by one and see how they’ll be affecting the crypto space as we know it, in the coming days.

Bitcoin Could Put Risk to the Banking System: Basel Committee

The Basel Committee on Banking Supervision has proposed new rules for cryptocurrencies held by banks to ward off potential threats to the financial stability of the volatile market. The Basel Committee report said that Bitcoin should carry the toughest capital requirements for banks due to its highest levels of volatility. At the same time, lower-risk stablecoins should be assessed like stocks.

Bitcoin Value Soars to $38,250 as Basel Committee Takes Note

https://www.cryptoknowmics.com/news/bitcoin-value-soars-to-38250-as-basel-committee-takes-note/

Bitcoin prices have surged to $38,250, as the world’s most influential banking regulator Basel Committee proposed stringent capital controls for institutions with exposure to the flagship digital currency. The Basel Panel is looking to assign crypto assets to the highest risk category with a risk weight of 1,250%.

Crypto Fund Manager Says Bitcoin ETFs to be Approved By 2022

Greg King, CEO, and founder of Osprey Funds has predicted that many Bitcoin ETFs might be greenlit by 2022. According to Greg, Bitcoin ETF applicants will have to wait longer for an SEC nod, despite the change in leadership.

MahaDAO Launches Valuecoin ARTH, Will Go Live on Polygon (MATIC)

Polygon (MATIC) will be hosting value coin introduced by MahaDAO, ARTH. The team behind MahaDAO is planning to release its spearheading product value coin on the fast-growing smart contract environment.

270M XRP Wired by Crypto Exchanges as Ripple Shifts More to China

Whale Alert, a well-known crypto watchdog, has reported that a whopping 270 million XRP were transferred by prominent crypto exchanges in the past 20 hours. Meanwhile, Ripple, the digital payment network, has been transferring XRP to Chinese crypto trader, Huobi, every day.