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Seeking Alpha 2021-06-10 11:49:02

Cryptocurrencies rise as regulators proposes rules, Coinbase expands borrowing

N Rotteveel/iStock Editorial via Getty Images Cryptocurrencies gain after an international group of bank regulators proposes a strict set of regulations for crypto assets. Also in crypto news, Coinbase Global (COIN) is expanding the number of states where U.S. customers can borrow cash using bitcoin as collateral. And the crypto exchange is teaming up with ForUsAll Inc. to provide the option for workers using its 401(k) plans to invest in cryptocurrency, the Wall Street Journal reports. Coinbase gains 1.1% in premarket trading. Bitcoin rises 8.0% over the past 24 hours to ~$37.8K, ethereum (ETH-USD) +1.3% to $2,572, Binance Coin (BNB-USD) +2.0% to $366.36, Dogecoin (DOGE-USD) +2.1% to 34 cents. The Basel Commitee on Banking Supervision puts forth preliminary proposals on banks' treatment of crypto asset exposures, an admission that cryptocurrencies are gaining wider adoption. "While banks' exposures to cryptoassets are currently limited, the continued growth and innovation in cryptoassets and related services, coupled with the heightened

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