Regulatory Clarity Boosts Bitcoin Cash as Wall Street-Backed Exchange Supports the Coin
Bitcoin Cash (BCH), a spin-off from the original digital asset, has experienced a recent surge in its market performance.
Since the beginning of June, BCH has seen a remarkable 98% increase. This surge aligns with the upward trend of Bitcoin and other digital currencies. However, Bitcoin Cash stands out as the top performer. The reason behind this success lies in its selection as one of the four cryptocurrencies available on the new crypto exchange, EDX Markets. Supported by major Wall Street players such as Charles Schwab, Citadel Securities, and Fidelity Digital Assets, EDX Markets chose Bitcoin, Ethereum, Litecoin, and Bitcoin Cash for their traders, primarily institutional investors.
These specific cryptocurrencies are considered commodities by regulatory bodies, providing them with greater regulatory clarity and mitigating potential legal challenges. The inclusion of Bitcoin Cash and Litecoin, both Bitcoin forks, suggests they share a similar status with Bitcoin in the eyes of regulators.
While these four assets offer traditional investors an entry point into the crypto world, the evolving regulatory landscape could lead to broader offerings on exchanges like EDX in the future.
Clever Robot News Desk 30th June 2023