The Basel Committee on Banking Supervision (BCBS) has created a proposal for the banks it oversees to reveal their crypto exposure from 2025. What does this mean for the crypto market? Does this impact Bitcoin SV (BSV) and the brand-new VC Spectra (SPCT)?
Let’s cover the BCBS news before looking at the latest for Bitcoin SV and getting involved in VC Spectra’s presale.
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Summary
BCBS proposes to have banks reveal all their crypto activity from 2025.
Bitcoin SV climbs higher despite false iShares Bitcoin ETF story; forecasts indicate a minimum BSV value of $60 by 2024.
VC Spectra (SPCT) is a few presale stages away from officially launching; it will be worth $0.080 by 2024
Banks Under BCBS May Be Mandated To Disclose Their Crypto 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 the member nations will have to disclose their crypto holdings from January 1, 2025.
The recent collapses of Signature Bank and Silicon Valley Bank have partly fueled this potential move. These institutions were involved in massive crypto lending and other related activities, which the BCBS seeks to discourage.
However, many analysts believe that crypto was not the main catalyst for the downfalls of the two banks. Regardless, the proposal would only affect a tiny portion of the banking industry. So, other banks and financial institutions will continue to be involved, which is a plus for top altcoins like Bitcoin SV (BSV) and VC Spectra (SPCT).
Bitcoin SV (BSV) Surges After False iShares Bitcoin ETF Story
Bitcoin SV (BSV) has been a standout performer in recent months off the back of progress related to Bitcoin (BTC). The applications of exchange-traded funds (ETF) for the former have boosted the price of Bitcoin SV (BSV).
Most recently, Cointelegraph posted on X/Twitter that the SEC (Securities and Exchange Commission) approved BlackRock’s iShares ETF. This led to a 16% rise in Bitcoin SV (BSV) from $33.75 to $39.30 on October 16, 2023. Sadly, it turned out the story wasn’t true.
While Bitcoin (BTC) retraced slightly after this, Bitcoin SV (BSV) moved higher, now trading at $44.32. Most forecasts expect a further rise in the price, with minimum values of $60 and $90 for 2024 and 2025 for Bitcoin SV (BSV), respectively.
Let’s wrap up the news by learning about VC Spectra (SPCT) and why it’s among the best cryptos to buy this October.
>>BUY SPCT TOKENS NOW<<
Much-Anticipated Exchange Listing For VC Spectra (SPCT)
VC Spectra (SPCT) is a decentralized hedge fund for promising blockchain and tech start-ups. The service prides itself as a positive force for societal and environmental change, given it commits to sustainable investing.
VC Spectra (SPCT) will offer seed and Series A funding, positioning the platform favorably to earn the most returns as the funded companies scale. The protocol plans to manage the risks and maximize the gains of its investments using several advanced strategies ranging from hedging to diversification.
VC Spectra (SPCT) also has access to machine learning algorithms, benefitting from cutting-edge insights to identify unique profitable opportunities. VC Spectra (SPCT) works with smart contracts, fostering an autonomous experience to store funds, manage portfolios, and allocate profits without third parties.
Like other DeFi companies, VC Spectra has a utility token, SPCT, which has several perks. These include voting rights on governance proposals, access to exclusive discounted pre-ICOs, and quarterly dividends.
Buyers can invest in SPCT for $0.055 in Stage 4 of VC Spectra’s sought-after presale. The token will be worth $0.080 in the last presale phase, Stage 6, signifying a 45% boost. Aside from this return, this period would precede the much-anticipated debut of VC Spectra (SPCT) on crypto exchanges and its official launch.
Learn more about the VC Spectra presale here:
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