SEC Restructuring| Miners Moving Bitcoin ASAP| FED Is Ready

House Republicans Push To Restructure SEC

Rep. Warren Davidson, R-Ohio, and House Majority Whip Tom Emmer, R-Minn., introduced the SEC Stabilization Act that would restructure the SEC and remove Chairman Gary Gensler from his post.
The GOP lawmakers point to what they say is Gensler’s "long series of abuses that have been permitted under the current SEC structure."

Bitcoin miners Moving $174 Million ASAP

The 14-day average of miner transfers to exchanges has increased sharply to 489.26 BTC, the highest since March 2021. Meanwhile, the balance in wallets associated with miners has decreased by nearly 2,000 BTC in two weeks.

The movement of coins from miner or investor wallets to exchanges is often equated with an intention to sell or liquidate coins. As such, increased movement of coins from miners to exchanges is widely perceived as bearish.

US Inflation Cools to 4% Annual Rate, Setting Stage for Fed's Decision on Interest Rates

While there is a prevailing belief among many that the Federal Reserve will refrain from increasing the rate this month, a considerable number of analysts and economists hold the view that the Fed will maintain this pause throughout the entirety of 2023.

“The encouraging trend in consumer prices will provide the Fed some leeway to keep rates unchanged this month and if the trend continues, the Fed will not likely hike for the rest of the year,” Jeffrey Roach, chief economist at LPL Financial told CNBC on Tuesday following the latest CPI report.

Twitter Spotlight

Today we received the Hinman emails. Although it makes the SEC look corrupt, it doesn’t answer the question as to how $XRP was sold by Ripple.I’m not a lawyer but I feel this adds to Ripple’s FND it shows Hinman knew and proceed to add uncertainty to the crypto market.My… twitter.com/i/web/status/1…— Cryptoinsightuk (@Cryptoinsightuk) 5:38 PM • Jun 13, 2023

The SEC should follow the law when deciding if #Ethereum is a security or not. Instead, they called Vitalik. 🤣#ETHGate is real.🔹 ETHGate was a conspiracy theory that ETH received a free pass from regulators while XRP was sued.Check the SEC chair email from 2018...— Duo Nine ⚡ Crypto Alpha (@DU09BTC) 1:52 PM • Jun 13, 2023

Rinse and Repeat. Thank you @FinancialCmte for continuing to call attention to impartial actions against the #digitalasset industry. "Rather than create rules that would meet the SEC’s mission of consumer protection and protecting financial markets, the Proposed Rule seeks to… twitter.com/i/web/status/1…— Cody Carbone (@CodyCarboneDC) 6:06 PM • Jun 13, 2023

In The Know

SEC and Binance seek compromise on US assets freeze
The SEC and Binance filed a proposed consent order that would lift some restrictions from the company and provide the commission with further assurances; however, a last-minute request for clarification has the outcome up in the air.
cointelegraph.com

House Bill Shows Challenge of Regulating Crypto Without Giving TradFi a Free Pass
House Republicans Patrick McHenry and GT Thompson face a central problem with their crypto bill: Removing SEC discretion over whether a crypto token is a security allows issuers of traditional stocks and bonds the opportunity to arbitrage regulation, writes Todd Phillips.
coindesk.com

Regulations Will Speed Up Adoption Says Saylor
All the regulatory actions in Europe are good for Bitcoin (BTC), said MicroStrategy’s co-founder and Executive Chairman, Michael Saylor.
cybernews.com

Events

Click here for events & meetups inJune 2023

Crypto News Heard Around the State

Tampa News

SOUND MONEY SOUND FOOD EVENT RECAP 🥩🍰We had guests from all over, we even had someone drive all the way down from North Carolina to join us. Nothing beats bitcoin meet ups especially with good food and friends 🧡🧡#bitcoin#bitcoinmeetup#soundmoneysoundfood— Bitcoin Bay (@bitcoinbaytpa) 8:14 PM • Jun 10, 2023

Orlando News

"#Orlando is ground zero for the next generation of the digital experience." - @citybeautiful@orlandomayorSee global & regional #inn#innovation@the@the_metacenterbal Week by #Syn#SynapseOrlandoImmerse@ImmerseSummitat#InnovationLivesHerea#ORLMetaCentertps://SynapseORL.com/— Synapse Florida (@SynapseFL) 6:13 PM • Jun 7, 2023

Miami News

'Stay tuned': Miami's mayor teases possible presidential announcement
"I'm going to be making a big speech in the Reagan Library," he said.
politico.com

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