Andrew Griffith, a UK MP, has called on the Financial Conduct Authority (FCA) to extend flexibility and clarity on the new crypto rules. Meanwhile, BNB recently concluded its 25th quarterly burn. Elsewhere, experts have predicted 900% growth for VC Spectra (SPCT) in its public presale.
Let’s explore what’s happening around these two top altcoins and pick the best crypto to buy now!
What you'll learn 👉
Summary
- Andrew Griffith, a Member of the Parliament of the UK, has urged FCA to clarify its position on the new crypto rules.
- According to market analysts, BNB can surpass the $400 price mark in 2024.
- VC Spectra (SPCT) posied to deliver 10x growth by the end of the public presale.
UK MP Asks the Regulatory Body to Clarify Rules Regarding Crypto
UK City Minister Andrew Griffith has urged the Financial Conduct Authority (FCA) to provide clearer and more flexible guidance regarding the recently imposed rules on crypto advertising. These rules have triggered a conflict due to differing viewpoints on the digital assets market.
In a letter dated October 5, 2023, Griffith conveyed the concerns of crypto companies to the FCA about the ambiguous and wide-ranging nature of the regulations. These regulations prevent unauthorized crypto firms from advertising their services to UK customers. Thus, FCA aims to protect consumers from uncertainties linked to investing in top crypto coins.
The FCA, aiming to safeguard consumers from the uncertainties tied to investing in crypto assets, introduced rules targeting unauthorized crypto firms from promoting their services to UK customers.
Griffith, advocating for the UK’s prominence in the crypto sector, has urged the regulator to display “forbearance” during the transition period and promptly issue clear guidelines.
BNB Coin Price Surges as it Completes the 25th Quarterly Burn Event
On October 16, 2023, Binance CEO Changpeng “CZ” Zhao celebrated the 25th quarterly burn event in a post on X. The world’s largest crypto exchange, Binance, executed a monumental burn, burning a staggering 2.14 million BNB tokens, amounting to a whopping $453 million.
This quarterly burn is a critical mechanism to regulate BNB’s circulating supply and maintain its value within the market. The burn involved the BNB Auto-Burn procedure and the Pioneer Burn Program. Moreover, BNB aims to bring down BNB’s circulating supply below 100,000,000, as per Binance’s strategy.
The impact of this quarterly burn on BNB’s price was immediate and substantial. A day before the announcement on October 15, the BNB coin price stood at $206.48. However, after the announcement of the execution of the burn event, the BNB coin price surged by 3.54% to $213.81 on October 16.
Per BNB price prediction, experts predict a promising future for BNB. Forecasts suggest that the BNB coin price will exceed the $400 mark, reaching an estimated $409.01. These predictions are fueled by the anticipation of an upcoming bull run and the recent strategic developments undertaken by Binance.
VC Spectra (SPCT) Remains Consistent With 587% Price Surge
VC Spectra (SPCT), a decentralized investment management firm, aims to revolutionize the blockchain sector with an innovative approach. This led experts to term VC Spectra (SPCT) as the top ICO among the long list of new ICOs. Moreover, VC Spectra (SPCT) employs an advanced AI algorithm and a team of investment experts to ensure higher returns.
SPCT is the native token of the VC Spectra platform, which is basically a BRC-20 standard token. Moreover, SPCT is built on the Bitcoin blockchain and follows a similar deflationary model. Furthermore, experts have highlighted its exponential growth in the public presale phase, which is now in Stage 3.
The price of the VC Spectra (SPCT) token stands at $0.055 in Stage 4. This current price of SPCT is a stunning increase of 587% from the Stage 1 price of $0.008. No wonder investors are shifting their focus to VC Spectra (SPCT) as the best crypto investment.
Moreover, crypto market analysts predict that VC Spectra (SPCT) has positioned itself to end the public presale with a spectacular 10x growth, translating to a 900% surge. Therefore, VC Spectra (SPCT) can reach $0.080 soon. Moreover, VC Spectra (SPCT) currently offers a 10% bonus on each deposit for new investors!
Learn more about the VC Spectra presale here:
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