Dogecoin Up 21% On Coinbase Listing, Sweden: Regulation Will Happen

---

Bitcoin seems to have found some temporary support in the $35k region and has (for now) stopped its fall. It remains to be seen whether the biggest cryptocoin by market cap can climb back up from here. Analysts agree that in order to get back to higher ground, Bitcoin would need to close above the $41k range for successive days.

One remarkable climber in the CoinMarketCap charts this morning is Dogecoin which is up 21%, after Coinbase noted it would be listing the memecoin for trading later this week.

Coinbase Pro opens up to dogecoin after cryptocurrency’s 6,000% gain this year https://t.co/B1pCInjfgL

— CNBC (@CNBC) June 1, 2021

In an announcement, the company stated:

Starting immediately, we will begin accepting inbound transfers of DOGE to Coinbase Pro. Trading will begin on or after 9 a.m. Pacific Time on Thursday, June 3, if liquidity conditions are met.

Fans reacted by sending Dogecoin 21% higher.

Sweden Central Bank

The good news comes just as more and more central bankers worldwide feel that crypto has grown to such a proportion that regulation is inescapable.

The latest to add his voice to the tally was Stefan Ingves, the governor of Sweden’s central bank, known as the Riksbank.

Swedish central bank says it’s time for #Crypto regulationshttps://t.co/wQHiA4GWSs

— XRPcryptowolf (@XRPcryptowolf) June 1, 2021

Mr Ingves declared:

When something gets big enough, things like consumer interests and money laundering come into play. So there’s good reason to believe that [regulation] will happen.

He was later on joined by Erik Thedeen, the head of Sweden’s financial regulator, who stated that:

It’s quite evident that some form of regulation is needed.