Top Cryptocurrencies to Purchase in September – Stacks, Litecoin, VeChain
- Cary
- September 20, 2023
- News, Cryptonews
- cryptocurrencies, Litecoin, Stacks, VeChain
- 0 Comments
Major investors monitoring cryptocurrencies like Stacks, Wall Street Memes, Litecoin, and Bitcoin BSC amid ongoing regulatory discussions.
Key Points
- A group of U.S. senators, spearheaded by Senator Elizabeth Warren, is pushing for increased regulation of the cryptocurrency industry to combat illicit financial activities.
- The proposal has received bipartisan backing and endorsements from several non-governmental organizations.
- Meanwhile, investors are assessing cryptocurrencies such as Stacks, Wall Street Memes, Litecoin, and Bitcoin BSC as discussions around regulations intensify.
A group of U.S. senators, led by Senator Elizabeth Warren, is advocating for increased regulation and oversight of the cryptocurrency industry. This move aims to combat illicit financial activities often associated with cryptocurrencies. Nine additional senators from both parties have joined Warren in supporting legislation that would impose regulations on cryptocurrency transactions.
📣🇺🇸 9 New Sponsors for Warren's Crypto Bill
Senator Elizabeth Warren continues her ongoing crusade against Bitcon and Crypto with her Digital Asset Anti-Money Laundering Act. Warren's goal is to tackle the perceived threats of Bitcoin and other cryptocurrencies, which she… pic.twitter.com/nZRI40EiwM
— Bitcoin Signal (@Swan) September 18, 2023
Bipartisan Backing and Support
Senator Warren expressed her gratitude for the additional support, stating that Congress is now ready to confront the challenges posed by cryptocurrencies. The bill, which is currently the most comprehensive one addressing the misuse of cryptocurrencies, would provide regulators with enhanced oversight mechanisms. Senators Catherine Cortez Masto, Richard Blumenthal, Tina Smith, Bob Casey, Jeanne Shaheen, Michael Bennet, Gary Peters, Dick Durbin, and Independent Senator Angus King have all endorsed the proposal. The chairs of the Senate Judiciary Committee and Senate Homeland Security and Governmental Affairs Committee, Durbin and Peters respectively, are among these supporters.
Endorsements from Non-Governmental Organizations
Several influential non-governmental organizations and industry groups have also voiced their support for the bill. The National District Attorneys Association, the Major County Sheriffs of America, Transparency International U.S., Global Financial Integrity, the National Consumer Law Center, and the National Consumers League have all endorsed the proposal. These endorsements highlight the importance of addressing the potential risks and concerns associated with cryptocurrencies.
Rising Concerns Over Crypto Tax Gap
During the discussion on cryptocurrency regulation, Senator Warren highlighted a significant risk to tax revenue known as the “crypto tax gap.” She warned that a delay in tax policy renewal could result in the loss of approximately $1.5 billion in tax revenue for the fiscal year 2024. This concern emphasizes the urgency of implementing regulatory measures proposed in the legislation.
As discussions around cryptocurrency regulations continue, many investors are wondering which cryptocurrencies offer the best investment opportunities. Bitcoin, the leading cryptocurrency, has shown stability and is currently trading at $27,326, up 2.08% for the day. Other altcoins, such as Stacks, Wall Street Memes, Litecoin, Bitcoin BSC, and VeChain, have also been gaining momentum.
Stacks (STX) Price Analysis
Stacks (STX) has recently broken above the 20-day EMA, indicating a potential upswing in the coming days. Despite being in consolidation for the past 33 days, STX has seen a 20% increase in value in the past week. The STX price is currently trading at $0.0117, up 2.43% for the day. This positive price action is supported by a significant increase in trading volume and market cap.
Wall Street Memes (WSM) Presale
The Wall Street Memes (WSM) cryptocurrency presale is entering its final week, raising over $25 million. WSM has gained popularity thanks to its strong fundamentals and community roots. The token offers staking rewards, reducing selling pressure and potentially boosting prices. With limited time remaining in the presale, investors are scrambling to secure tokens before the highly anticipated initial exchange offering (IEO).
Litecoin (LTC) Price Surge
Litecoin has surged nearly 17% in the past week, sparking hopes of a new uptrend. The LTC price currently trades at $67.51, up 2.46% for the day. However, market participants are cautious, as trading volume has been declining. The LTC price has managed to stay above the 20-day EMA, but faces significant resistance levels ahead.
Bitcoin BSC (BTCBSC) Offers Enhanced Performance
Bitcoin BSC is being hailed as one of the best cryptocurrencies to buy now. With a presale price of $0.99 and a high staking APY of 150%, BTCBSC has garnered attention from prominent influencers. The presale has already raised over $3.2 million, indicating strong investor interest.
In conclusion, U.S. senators, led by Senator Elizabeth Warren, are advocating for stricter oversight of the cryptocurrency industry. Bipartisan support and endorsements from non-governmental organizations highlight the need for enhanced regulations. As discussions around regulation continue, investors are evaluating the best cryptocurrencies to buy now, such as Stacks, Wall Street Memes, Litecoin, and Bitcoin BSC. These cryptocurrencies offer promising potential for investors looking to capitalize on the evolving cryptocurrency market.
