This week in crypto, we have turbulent news from USA presidential rallies, clearer definitions on crypto, and the first official CBDC.
Over the weekend…
Switzerland formed a group to promote the advancement of blockchain. The Ticino Blockchain Technologies Association seeks to stimulate education and research in blockchain technology.
Crypto pioneer and US presidential candidate Brock Pierce was served for securities fraud at NYC rally. Pierce co-founded Block.one, Tether and Blockchain Capital.
Crypto mining lead to a surge in graphic card sales in Russia. Last month saw a 49% increase in mining-enabled graphic cards. Mining remains ambiguous under Russian regulation.
Nigerian SEC recognized digital assets. “Virtual crypto assets are securities, unless proven otherwise”. They will start treating cryptocurrencies and utility tokens as commodities.
Russian election sees a record number of blockchain votes. Almost 30,000 votes were cast for a parliamentary election. This is the largest case of blockchain voting yet seen.
The Bahamas announced its state-backed cryptocurrency. If successful, it will be the first country to adopt a national virtual currency. It is set to roll out next month.
A major Asian bank issues first blockchain credit. The Asian Development Bank (ADB) used the Contour blockchain network to settle its first letter of credit (LC) transaction. “The use of blockchain has made trade more efficient while reducing risk and lowering the barriers to entry for small and medium-sized businesses in developing parts of Asia,” said an ADB executive.
US stomped on two major crypto scammers. Sanctions were placed on a Russian phishing scam that stole almost $17 million from three exchanges. In addition, two Malaysian hackers were arrested and are facing 77 years in prison. “It is a reminder to those who continue to deploy malicious cyber tactics that we will utilize every tool we have to administer justice,” said the FBI deputy director.
Bitcoin ATMs reached 10,000 worldwide. The number of global BTC ATMs has surged 87% since last year.
Microstrategy revealed their BTC acquisition strategy. They put in $250 million in initial investment.
The European Union will present comprehensive crypto rules by 2024. The documents seek to clarify grey areas as well as detail how digital assets will be used.
For more information on these stories, visit:
It looks like crypto isn’t correlated to traditional markets, at least not during this past session.
Bringing digital assets to the world.
EQONEX is a digital assets financial services company focused on delivering a full, digital asset ecosystem that offers innovative, trusted, and transparent products and services.
© 2022 EQONEX Capital Pte Ltd
All rights reserved.