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The 50-week ema/ma cluster has held #Bitcoin up for the entire cycle. Can it act as support again?

Japan’s crypto reform bill advances to National Diet following cabinet approval Japan's Cabinet has approved a proposal to amend the Payment Services Act and submitted it to the National Diet, according to Crypto News, citing a press release from the country’s Financial Services Agency (FSA). While the bill's specific details remain undisclosed, Japan's ruling party has previously proposed excluding cryptocurrencies from being classified as securities and reducing the capital gains tax rate on crypto transactions from 55% to 20%. Related Story:

The Cabinet of Japan has green lit a proposal to amend the Payment Services Act, which would ease regulations for stablecoins and crypto brokerages. According to a press release issued by the country’s Financial Services Agency , the bill has already been approved by the Cabinet and was submitted to the National Diet on the same day. The bill was previously approved by the FSA and could potentially make it easier for crypto firms to enter the Japanese market. For a bill to pass through the National Cabinet, it must receive a majority vote from the Cabinet members present at the meeting. The Cabinet is led by the Japanese Prime Minister, who plays a key role in determining consensus, as the Cabinet operates under the principle of collective responsibility. Once approved, the bill is formally submitted to the National Diet for legislative debate and voting. Once it passes through to the Diet, the bill is assigned to a relevant committee where it is examined, debated, and potentially amended before it is introduced to the full chamber. If both the House of Representatives and the House of Councillors approve the bill, it is then sent to the Emperor for ceremonial promulgation, which will formalize the law and eventually enact it. The bill would allow for stablecoins to be backed by short-term government bonds and fixed-term deposits, aside from only the demand deposits. This clause also comes equipped with an upper limit of 50% for government bonds and deposits that can be used as collateral for stablecoins. At press time, stablecoin issuers in Japan are required to match the amount of circulated tokens on a 1:1 ratio with cash deposits in regulated bank accounts. The new rule grants them more flexibility to be able to use other assets like Japanese and U.S. government bonds instead. However, only certain types of bonds can be used, including those with a remaining maturity of three months or less. In addition, the bill will also create a new category just for “intermediary” crypto businesses or brokerages. In Japan, crypto brokerage firms can only operate within the country if they manage to fulfill the same registration requirements as crypto exchange platforms. This means that crypto brokerages need to apply for a virtual asset service provider license, just like domestic crypto exchanges. Under the new bill, intermediaries will abide to their own set of requirements and anti-money laundering obligations, instead of being clumped together with exchanges that operate differently.

The British Overseas Territory Cayman Islands has implemented licensing requirement for crypto custody and trading platforms, effective from April 1. As of April 1, the updated Virtual Asset (Service Providers) (Amendment) Regulations, 2025 require that all firms providing custody and trading services for digital assets must obtain a license, Cayman Islands Monetary Authority will be overseeing the regulated firms. Existing providers must apply for the license within 90 days, with applications detailing their cybersecurity, risk management, and safeguarding protocols. In their applications, crypto custodians must also state “the types and amounts of virtual assets” they will hold and reasons for their custody. As for trading platform operators, they must state their expected revenue as well as indicate the location of the hardware that supports their operations. This marks a pivotal change for the crypto firms operation in Cayman Islands, which has historically had open regulatory regime. The British Overseas Territory initially implemented the VASP Act in 2020, requiring VASPs to be licensed or registered with CIMA. However, the main reason for putting this law in place wasn’t necessarily to regulate the crypto industry itself. Rather, it was primarily designed to prevent money laundering and the financing of terrorism. Now, with the new, aforementioned regulation coming into force on April 1, this extends to crypto service providers. As of now, there are 17 companies in the Cayman Islands that are registered as VASPs, including big-names like Crypto.com and Blockchain.com.

investors uncertain about the future trend. In this article, we'll conduct a technical analysis of the retracement and provide valuable tips for navigating the uncertain trend. Technical Analysis of the Retracement The retracement of ELX's explosive rally can be analyzed using various technical indicators: - *Fibonacci Retracement*: The Fibonacci retracement tool indicates that the price has retraced to the 38.2% level, which is a potential support area. - *Moving Averages*: The 50-period moving average is above the 200-period moving average, indicating a bullish trend. However, the price has broken below the 50-period moving average, indicating a potential trend reversal. - *Relative Strength Index (RSI)*: The RSI is below 30, indicating oversold conditions and a potential rebound. Tips for Navigating the Uncertain Trend Here are some valuable tips for navigating the uncertain trend: - *Analyze Retracement Levels*: Identify key retracement levels, such as 23.6%, 38.2%, and 61.8%, using Fibonacci retracement tools. These levels can act as potential support or resistance areas. - *Combine with Other Indicators*: Use retracement analysis in conjunction with other technical indicators, such as moving averages, trendlines, and oscillators, to confirm trading decisions. - *Monitor Market Sentiment*: Keep an eye on market sentiment and news events that may impact ELX's price. A change in market sentiment can influence the trend's direction. - *Set Clear Goals and Risk Management*: Establish clear investment goals and risk management strategies to help you stay focused and avoid significant losses. - *Stay Informed*: Continuously monitor ELX's price movement and adjust your strategy accordingly. Additional Tips for Traders Here are some additional tips for traders: - *Use Stop-Loss Orders*: Use stop-loss orders to limit potential losses if the price moves against your position. - *Set Take-Profit Levels*: Set take-profit levels to lock in profits if the price moves in your favor. - *Monitor Trading Volume*: Monitor trading volume to gauge market interest and potential trend reversals. - *Stay Disciplined*: Stay disciplined and avoid impulsive decisions based on emotions or short-term market fluctuations. Conclusion ELX's explosive rally and sharp retracement have created an uncertain trend, making it challenging for traders and investors to navigate. By analyzing the retracement using technical indicators and following our valuable tips, traders and investors can make informed decisions and adjust their strategies accordingly. Remember to stay informed, monitor market sentiment, and set clear goals and risk management strategies to navigate the uncertain trend. The Future of ELX As the cryptocurrency market continues to evolve, ELX is likely to remain a widely traded cryptocurrency. Here are some potential future developments: - *Increased Adoption*: As more users and businesses adopt ELX, its value and visibility are likely to increase. - *Improving Infrastructure*: Upgrades to ELX's infrastructure, such as improved scalability and security, can increase investor confidence and drive up the price. - *Strategic Partnerships*: ELX may form strategic partnerships with other blockchain projects and companies, expanding its reach and increasing its visibility.