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This Week in Crypto...

September 12, 2021

During the weekend, a judge ordered Ripple to handover terabytes of employee Slack messages to the Securities and Exchange Commission. This is the latest in the SEC’s ongoing case against Ripple for selling what they claim are “unregistered securities”.

A report by the Finder Consumer Sentiment Tracker, showed that one in six Australians own cryptocurrency, with the total value of their holdings adding up to $8 billion. Bitcoin (BTC) is the most popular cryptocurrency at 9% of the population. 8% own Ethereum (ETH), 5% own Dogecoin (DOGE) and 4% own Bitcoin Cash (BCH).


On Monday,

Crypto mining demand soared in Vietnam. One particular mining rig seller saw sales triple, with GPUs selling at premium prices. AMD or Nvidia GPU’s now reportedly cost between $3,500 and $4,400 in Vietnam. Vietnam remains one of the countries with the highest rate of crypto adoption, despite strong government pushback.

A survey on North American teens found that one in four would invest in crypto if they had the funds to do so. The survey found that crypto was more popular than real estate but still not as popular as traditional stocks. The survey’s leaders aimed to reestablish confidence in the stock market that they believed has wavered due to teens witnessing the Gamestop debacle.


On Tuesday, 

El Salvador’s Bitcoin (BTC) law came into effect and became the first country to recognize Bitcoin as legal tender. Although momentous, it was a rocky start. The state’s BTC wallet servers suffered capacity errors and went offline. President Nayib Bukele plans to ramp up the governments BTC acquisitions.

Visa’s VP of New Business, Eduardo Abreu, revealed the company’s intentions to integrate crypto assets onto its platform for both payments and as a store of value, including Bitcoin (BTC). There was no specific announcement as to the date of the launch, but it is widely expected in the coming months.


On Wednesday,

A former deputy governor of the Reserve Bank of India (RBI) has pushed for digital asset acceptance in the country. Speaking at the inaugural Hodl 2021 virtual conference, Rama Subramaniam Gandh said that crypto could be used for payments for economic activities, but he sees them more as an asset class.

The Ukrainian Parliament adopted the draft law “On Virtual Assets,” legally recognizing cryptocurrency in the country for the first time. Ukraine’s Ministry of Digital Transformation will be tasked with overseeing the implementation of the new digital asset regulation and guiding the industry’s growth in adherence to international standards.


On Thursday,

A New York county clerk office employee was arrested for mining crypto at the publics expense. Christopher Naples used his position to place 46 crypto mining devices in various spots at the Riverhead Center in the New York county in which he worked.

The Chairman of the Russian State Duma Committee on Financial Markets, Anatoly Aksakov, claimed that Russian lawmakers are now considering recognizing the crypto mining industry as a form of entrepreneurship under local business laws. He said that the government is actively working on several legal initiatives related to the crypto industry, expecting to move forward with bills for crypto taxation, mining and digital currency issuance in the near future.


On Friday, 

A fintech firm from Pune, India has launched a blockchain-based registry system named RealX that allows Indian citizens to purchase fractional ownership in properties. RealX COO and co-founder Neera Inamdar, said the COVID-19 pandemic was a key driver for the platform’s launch, as the real estate market’s instability concerned both property developers and investors.

Bloomberg reported that Nasdaq, Finnhub and Tiingo will be providing their price feeds to DeFiChain, a DeFi platform built on the Bitcoin (BTC) network. DeFiChain offers trading in tokenized stocks that correspond to the underlying price of major listed firms such as Tesla, Amazon and Apple. The tokenized stocks can be purchased in fractions without requiring investors to purchase a full, traditional share, for which custody of a physical share certificate is required.


For more information on these stories, visit:

Judge orders Ripple To Hand Over 1 Millions Slack Messages To The SEC (crypto-news-flash.com)

Finders-Cryptocurrency-Report-2.pdf (dvh1deh6tagwk.cloudfront.net)

Crypto mining demand soars in Vietnam amid Bitcoin rally (cointelegraph.com)

One in four US teens would buy crypto if given money to invest, survey finds (cointelegraph.com)

First Day of Bitcoin in El Salvador, the Ups and Downs - BeInCrypto

Visa reportedly aims to integrate Bitcoin payments in Brazil - mTm Crypto

India should adopt cryptocurrency, according to an ex reserve bank exec - Crypto-Telegraphs

Ukraine legalizes cryptocurrencies – Nairametrics

New York I.T. Supervisor Arrested for Mining BTC at Work (entrepreneur.com)

Duma Of Russia Seeks To Regulate And Recognize Crypto Mining As Business ⋆ ZyCrypto

Blockchain-based platform for fractional property ownership launches in India (cointelegraph.com)

Nasdaq to provide price feeds for tokenized stock trades on DeFiChain By Cointelegraph (investing.com)

 

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