Government officials of the Indian parliament may be taking the "ordinance route" by passing a bill which will ban all digital currencies in the country. They attribute the decision to an effort in preventing illicit activities in the industry.
Tesla announced it will now accept payment in Bitcoin. This follows a $1.5 billion investment in Bitcoin from the company's corporate treasury.
Rhode Island's state legislature received a new bill that aims to attract blockchain investors. The bill is called the Rhode Island economic growth blockchain act and aims to frame Rhode Island as a crypto sandbox.
Amazon posted a job hinting at a new digital and emerging payments project. According to the posting, the project will be piloted in Mexico.
Bank of New York Mellon announced that it plans to hold, transfer, and issue Bitcoin. BNY Mellon is the oldest bank in the United States and is making an effort to embrace digital assets as they become increasingly mainstream.
Nigerian Senator Sani Musa stated in a plenary session that, “Cryptocurrency has become a worldwide transaction of which you cannot even identify who owns what. The technology is so strong that I don’t see the kind of regulation that we can do. Bitcoin has made our currency almost useless or valueless." This follows the Central Bank of Nigeria’s announcement banning cryptocurrencies.
Democratic mayoral candidate for the State of New York, Andrew Yang, said he would turn New York into “a hub for BTC and other cryptocurrencies.”
According to an anonymous source, Morgan Stanley is considering an investment in Bitcoin through its subsidiary Cointerpoint Global. The bank has declined to comment.
For more information on these stories, visit: Doge: https://nypost.com/2021/02/08/dogecoin-hits-record-high-as-snoop-dogg-gene-simmons-buy-in/ India: https://news.bitcoin.com/indian-government-crypto-bill-cryptocurrency-law/ Tesla: https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html Rhode Island: https://www.coindesk.com/rhode-island-lawmakers-hope-to-boost-state-economy-with-blockchain-friendly-legislation BNY Mellon: https://www.wsj.com/articles/bitcoin-to-come-to-america-s-oldest-bank-bny-mellon-11613044810?mod=mhp Amazon: https://www.amazon.jobs/en/jobs/1422942/software-development-manager-digital-and-emerging-payments | https://cointelegraph.com/news/amazon-job-postings-hint-at-digital-payments-project-to-launch-in-mexic Nigeria: https://cointelegraph.com/news/bitcoin-has-made-the-naira-almost-useless-says-nigerian-senator Andrew Yang: https://twitter.com/AndrewYang/status/1359992211186843649 Morgan Stanley: https://finance.yahoo.com/news/morgan-stanley-may-bet-bitcoin-150049774.html?guccounter=1&guce_referrer=aHR0cHM6Ly9jb2ludGVsZWdyYXBoLmNvbS8&guce_referrer_sig=AQAAAN4c2MSxlQyW_7OQS7HdrgyYkEoDI85eT6ngdHr54qrcr6YiFFTEg3cHiLGATour3IBiRiV2eRs3t-dUNvoWgoq7Ti3lUX-xtZct3GHmyNIENYTHePXY3mkchxHjRK2jQmEI_Fpib7FwFy5SIb8y0wVkMWYRhSztC1qUXXgYUqEB
Yesterday's trading was mixed. Early in the session, even with reports of economic slowdown in the US, traders were still buying, maybe thinking it solidified the accommodative Fed policies.
Yesterday’s narrative was somewhat bittersweet. On the one hand, Fed policies remain hyper accommodating, which is positive. On the other hand, the accommodating stance is based on lingering concerns about the economic recovery in the US (and also globally).
Bitcoin has fallen back below $40,000 today, as the denial from Amazon of the impending acceptance of Bitcoin as a payment method came through. Prices returned to our support level of $36,500 before rallying once more, a sign that this move may be supported by more than just click-bait headlines.