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[Week 40, 2021] This Week in Crypto

October 8, 2021

EQONEX

Just two weeks after China’s crackdown, crypto is booming!

On Monday... 

El Salvador’s President Nayib Bukele confirmed that the Latin American nation has successfully onboarded over 3 million Bitcoin users to its Chivo wallet app in just 26 days of the government making Bitcoin a legal tender.  

Biden’s administration is set to create a coalition of 30 countries to stifle the effects of ransomware, the illicit use of cryptocurrencies, and several allied matters. 

Edward Snowden, the former United States Central Intelligence Agency agent, tweeted about Bitcoin getting stronger on the back of government bans and anti-crypto policies. 

New Zealand Launched Its First Bitcoin-Only Investment Fund, Vault International Bitcoin Fund. 

On Tuesday… 

The International Monetary Fund (IMF) calls for implementing ‘global standards for crypto-assets, acknowledging the efficiency of this technology to perform fast and inexpensive cross-border payments. 

Bank of America (BofA) has published a research report outlining the current and prospective state of the cryptocurrency industry at large, highlighting an industry with a market valuation of over $2 trillion and more than 200 million global users, which “is too large to be ignored.” 

Lord Fusitu, a member of the Tongan Parliament, is trying to make Bitcoin legal tender in Tonga, in which the “Strike” wallet could play a role.  

On Wednesday… 

Bank of America officially launched its cryptocurrency research division with a new 140-page report titled “Digital Assets Primer: Only the first inning,’ which covers bitcoin, NFTs, DeFi, central bank digital currencies (CBDCs), and more. 

US Bank launched cryptocurrency custody services amid strong demand from institutional clients. 

The Central Bank of Uruguay has issued a statement describing a roadmap for the regulation of cryptocurrency assets soon.  

On Thursday… 

Seven crypto billionaires make it to Forbes 400 wealthiest people in 2021. 

According to Federal Deputy Aureo Ribeiro, Bitcoin will soon become a currency in Brazil and could be used to purchase houses, cars, and even fast food at McDonald’s.  

On Friday… 

Asset Management Giant Invesco announced its exclusive partnership with Galaxy Digital Holdings Ltd to launch two exclusive crypto ETFs. 

Banco Hipotecario, a national commercial bank in El Salvador, has started working with four crypto companies to boost financial inclusion with bitcoin in the Central American country. 

For more information on these stories, visit: 

https://bitcoinmagazine.com/culture/el-salvador-onboards-3-million-bitcoin-users-as-price-rises 

https://zycrypto.com/biden-to-raise-a-coalition-of-30-countries-to-combat-the-illicit-use-of-cryptocurrencies/ 

https://cointelegraph.com/news/bitcoin-got-stronger-despite-government-crackdowns-says-edward-snowden 

https://cryptopotato.com/new-zealand-launched-its-first-bitcoin-only-investment-fund/ 

https://ambcrypto.com/imf-calls-for-implementing-global-standards-for-crypto-assets/ 

https://coinnounce.com/bank-of-america-publishes-a-report-on-the-crypto-industry/ 

https://cryptopotato.com/tongan-member-of-parliament-wants-to-make-bitcoin-legal-tender/ 

https://blockworks.co/bank-of-america-is-bullish-on-digital-assets-believes-bitcoin-is-only-the-beginning 

https://news.bitcoin.com/us-bank-launches-cryptocurrency-custody-services-strong-demand-institutional-clients/ 

https://news.bitcoin.com/central-bank-of-uruguay-describes-roadmap-to-crypto-asset-regulation/ 

https://chaintimes.com/seven-crypto-billionaires-make-it-to-forbes-400-wealthiest-people-in-2021/ 

https://news.bitcoin.com/bitcoin-will-become-currency-in-brazil-soon-according-to-federal-deputy-aureo-ribeiro/ 

https://coingape.com/just-in-asset-management-giant-invesco-launches-two-exclusive-crypto-etfs 

https://www.coindesk.com/business/2021/10/07/el-salvadors-state-owned-banco-hipotecario-taps-four-crypto-startups-for-blockchain-solutions/ 

 

 

 

 

 

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