SEC Advises Crypto Brokers to Prioritize Clients‘ Best Interest

• The US Securities and Exchange Commission is advising brokers and investment advisers to use caution when making crypto recommendations to ensure their clients’ best interests.
• Crypto derivatives exchange Deribit is launching free trading of bitcoin and other tokens, setting up a fresh price war among digital asset exchanges.
• NFT marketplaces have seen a drop in daily users and sales, according to analytics platform Dune- reaching new lows not seen since July 2021.

SEC Advises Heightened Scrutiny for Crypto Recommendations

The U.S. Securities and Exchange Commission (SEC) is advising brokers and investment advisers they need to use heightened scrutiny when it comes to making crypto recommendations in order to ensure the risky products are in the best interests of their clients, the agency said in a new bulletin.

Deribit Sets Up Crypto Exchange Battle With Push Into Free Trading

Crypto derivatives exchange Deribit is launching free trading of bitcoin and other tokens, setting up a fresh price war among digital asset exchanges as they seek to re-emerge after a bruising year for the industry.

NFT Marketplaces Sales, Users Drop

The number of daily users and sales has dipped across NFT marketplaces over the last week, according to data pulled from analytics platform Dune, reaching new lows not seen since July 2021.

BTC/USD Price Update

BTC/USD dove 2.0% in the last session. The Bitcoin-Dollar pair plummeted 2.0% in the last session. The Stochastic-RSI indicates an oversold market with support at 27527.3333 and resistance at 31061.3333..

Daily Economic Calendar: US Baker Hughes US Oil Rig Count

The Baker Hughes Rig Count is an important business barometer for the drilling industry and its suppliers while Active drilling rigs consume products and services produced by the oil service industry with Japan’s Jibun Bank Manufacturing PMI at 00:30 GMT, Japan’s Jibun Bank Services PMI at 00:30 GMT followed by JP Jibun Bank Manufacturing PMI which gives an early snapshot of the health of Japanese manufacturing sector every month