|Crypto in a Week|
|After a rise in main cryptocurrencies price on the last three months (Litecoin even rose from $25 to $60), the Bitcoin price this week sustained a range between $3950 and $4030 while other main altcoins were also showcasing a very low volatility. This is a positive trend for adoption, in a week full of positive news. Twitter CEO announced he is willing to hire 4 blockchain engineers and a designer to work for the good of the ecosystem while the developers at Lightning Labs also released the alpha version of a new protocol to enhance payment channels. The expansion of bitcoin cash-backs and the coming launch of Bitcoin sales at over 1300 Australian newsagents are also positive for adoption. Even at the institutional level, US pension-based Morgan Creek dove deeper into crypto by investing in Ikigai crypto asset manager. Major banks are also enrolling with IBM on its blockchain-based global payments network using Stellar cryptocurrency. Blockchain and crypto lobbies are booming in Washington D.C. to ensure the evolution of regulation is favorable to the industry. |
On the darker side of it though, the fight against scams and money-laundering is still a hot topic. According to blockchain investigations firm CypherBlade, the Wall Street Journal falsely overstated its ‘$9M’ ShapeShift money laundering claim. Blockchain KYC/AML firms are flourishing, such as Concordium which hired ex-NATO chief and ex-PM of Denmark. But narcotics dealers and criminals are turning their backs on dark-web marketplaces that are reportedly full of law-enforcement agents, towards encrypted messaging apps. Meanwhile, other vicious behaviors are happening on digital currency exchanges with the exchanges themselves reportedly faking a majority of their trade volumes.
Moving to the Middle-East, Qatar just developed the world’s first hybrid digital stock exchanges based on a gold-backed e-token, the I-Dinar while Dubai is launching its first Bitcoin ATM. Further East, South Korea is increasingly becoming a crypto and blockchain hub with the expected launch of a multi-crypto wallet on the national messaging app and the Government hiring a National Blockchain Team to promote the technology. In Japan, the regulations have been tightened on crypto margin trading.
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