Market snapshot
- ASX 200 futures: +0.3% to 8,403 points
- Australian dollar: -0.14% to 62.65 US cents
- Wall Street: Dow Jones: +1.1%, Nasdaq +0.6%, S&P 500 +0.8%
- Europe: DAX +0.3%, FTSE +0.3%, Eurostoxx +0.4%
- Spot gold: +1.2% to $US2,740/ounce
- Brent crude: -0.8% to $US79.52
- Iron ore: +0.9% to $US104.80 a tonne
- Bitcoin: 4.3% to $US106,981
Prices current around 7:20am AEDT
Live updates here:
Crypto task force launched by Trump administration
The US Securities and Exchange Commission has created a new task force to work on a regulatory framework for crypto currencies.
President Donald Trump says he will reverse an industry crackdown led by former President Joe Biden, which saw crypto companies including Coinbase and Kraken sued for allegedly breaking the rules.
The companies have denied the allegations and say the SEC rules make it unclear whether a crypto coin is a security.
There is currently no clear definition of what a cryptocurrency actually is.
Republican Commissioner Mark Uyeda has been named acting SEC Chair.
“The Task Force’s focus will be to help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously,” Uyeda’s office said.
Bitcoin has hit another record high of $109,071 on Monday in the US, it’s currently trading at $105, 971 as of 7:43am.
– with Reuters
Happy hump day!
Good morning and welcome to the ABC’s daily finance blog where I’ll bring you all the latest news and analysis from home and abroad.
The ASX 200 is likely to open higher this morning after big gains on Wall Street.
The Dow Jones is up +1.1%, the S&P 500 +0.8% and the Nasdaq has gained +0.7%.
The Aussie dollar is down -0.14% to 62.66 US cents.
Gold is up +1.2% to US$2,741 an ounce.
Iron ore is also up +0.9% to US$104.80 a tonne
And bitcoin is up +4.3% to US$106,981.
