Bitcoin Price Forecast: Will BTC Break $58K as Kraken Refutes SEC and Trump Backs Crypto?

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Bitcoin has been at the center of recent developments in the digital asset space, with its price hovering around $58,000 amid key market events.

Kraken is disputing the SEC’s claims that certain digital assets are securities, while MicroStrategy now holds 1.17% of all Bitcoin.

Additionally, Donald Trump’s new cryptocurrency venture offers few operational details but signals his growing support for digital assets.

Kraken has rejected the U.S. Securities and Exchange Commission’s (SEC) claims that providing certain digital assets violates federal securities laws. In a court filing on September 12, Kraken argued that assets like Solana (SOL) and Cardano (ADA) are not legally classified as securities or investment contracts.

Meanwhile, in the UK, a bill was introduced to clarify the legal status of cryptocurrency as personal property. In Brazil, the suspension on bank accounts linked to Starlink and X was lifted after a $3 million fine was paid. Additionally, Coinbase has launched a $6 million legal defense fund to assist NFT enterprises facing regulatory challenges.