Cryptocurrency prices were higher on Tuesday amid a lack of a clear trigger, although optimists took heart from an announcement the U.S. Securities and Exchange Commission will host a series of meetups with crypto and fintech companies across the country.
The meetings, organized by the regulator’s hub for innovation, aims to help the SEC gain insight into the industry.
Entrepreneurs and others will be able to ask SEC staff about clarification on federal securities laws and if their companies and products, including digital assets, fall under their purview.
The SEC is currently reviewing more than one application to list exchange-traded funds dealing in cryptocurrencies. Its approval would greatly expand the accessibility of crypto assets for mainstream investors. It has refused all applications so far.
Bitcoin rose 1% to $3,891.10 as of 8:43 AM ET (12:43 GMT) on the Index.
Cryptocurrencies overall recovered to $134 billion at the time of writing, compared to $133 billion on Monday.
Ethereum gained 1.7% to $134.30 and XRP inched up 0.35% to $0.31064 while Litecoin was jumped 3.7% to 0.3111.
In other news, Facebook’s cryptocurrency could generate as much as $19 billion in revenue by 2021, a Barclays (LON:BARC) analyst wrote in a note to clients, according to CNBC.
“Merely establishing this revenue stream starts to change the story for Facebook (NASDAQ:FB) shares in our view,” Barclays internet analyst Ross Sandler said
The social media giant is working creating a coin for global payments for use through its messenger app “WhatsApp.” The stable coin will be linked to the U.S. dollar, making it more reliable than other digital assets.
