Thai SEC forced to clarify proposed crypto rules after public backlash
Thailand’s Securities and Exchange Commission has walked back previous plans to enact a 1 million baht (about $33,000) minimum annual income requirement for crypto investment in the country. According to a report by the Bangkok Post on Tuesday, the commission has clarified that the previous draft document was published to gauge investor sentiment.
Turkish finance ministry to study cryptocurrency with local regulators
Turkey made itself a name as a crypto-friendly country with a "wait and see" approach to digital assets, but that could be about to change, as the government is now ready to take things in hand. The Turkish Ministry of Treasury and Finance went to Twitter to express concerns about cryptocurrencies and to announce collaborative work on the topic with several local regulators on Monday.
Ethereum-based domain names go mainstream with Cloudflare integration
Unstoppable Domains, an Ethereum-based project that allows users to create ".crypto" website URLs, has been integrated into Cloudflare’s Distributed Web Resolver. Following the integration, users will be able to access Unstoppable Domains’ blockchain addresses from any browser. Previously, websites created under Unstoppable Domains’ .crypto extension were only accessible via browsers that had already opted to include access to them. Through Cloudflare’s use of DNS over HTTPS, all web browsers connected to the internet will now be able to access .crypto sites.
Bitcoin hits $50,000, a new historic milestone for BTC price
Bitcoin (BTC) surged to new all-time highs on Feb. 16 following a week of bullish news including Tesla accepting BTC and MicroStrategy planning to raise another $600 million to buy Bitcoin. Data from Cointelegraph Markets and TradingView showed BTC/USD climb over 5% in hours on Tuesday days after BNY Mellon confirmed that it would store crypto for asset management clients and rumors also swirled around Morgan Stanley. The move put Bitcoin on course to hit the psychologically significant $50,000 mark once again after several days of sideways movement as a tussle between whales emerged.
America's oldest bank, BNY Mellon, will custody Bitcoin
Bank of New York Mellon, America’s oldest bank, has announced plans to hold, transfer and issue Bitcoin (BTC) and other cryptocurrencies as an asset manager on behalf of its clients. The impetus for the decision reportedly came from institutional investors — the top brass of BNY Mellon’s clientele — amid the 2021 bull season for the asset class.
Tesla's $1.5B Bitcoin buy throws the cat amongst institutional pigeons
Not all analysts are convinced that Tesla’s recent acquisition of $1.5 billion worth of Bitcoin (BTC) will prove to be as beneficial for the tech giant as it was for the BTC coin price. Head of equity strategy at Saxo Bank, Peter Garnry, wrote in a research note that Elon Musk had exposed Tesla and its investors to “immense risk”, as reported by Reuters on Feb. 11.
Tesla's $1.5B Bitcoin purchase leaves treasury experts scratching heads
Corporate treasury commentators are criticizing Tesla's $1.5 billion Bitcoin splurge, echoing the well-worn rhetoric of BTC’s volatility. Speaking to Financial Times, Jerry Klein, managing director at New York-based investment management firm Treasury Partners said that there was no use case for plowing corporate cash into Bitcoin.
Crypto-friendly US senator invites Elon Musk to move to Wyoming
ollowing Tesla’s groundbreaking Bitcoin announcement, pro-crypto Senator Cynthia Lummis set out the welcome mat for Elon Musk in her home state of Wyoming. Taking to Twitter yesterday, Lummis invited the Tesla and SpaceX CEO to consider relocating to “one of the most business friendly states” with “the best laws for digital assets” in the United States.
Federal reform could transform crypto’s cannabis use case
The recent vow by United States Senate leader Chuck Schumer to end federal prohibition of cannabis could have knock-on effects for Bitcoin (BTC) and the wider cryptocurrency industry. Schumer and fellow Democratic senators Ron Wyden and Cory Booker released a joint statement on Feb. 1, declaring their intention to comprehensively reform federal cannabis legislation. The statement noted the disproportionate impact of the war on drugs on people of color.
Central Bank of Nigeria bans banks from servicing crypto exchanges
The Central Bank of Nigeria has placed a ban on all regulated financial institutions from providing services to crypto exchanges in the country. The prohibition was contained in a circular issued by the CBN on Friday. According to the central bank's notice, the ruling is an extension of earlier warnings from the bank about the risks associated with digital currencies.