European Commission unveils digital finance package for crypto and blockchain...
One week in review:
Sept. 21–27 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. European Commission unveils digital finance package for crypto and blockchain | | | A new digital finance package has been unveiled that proposes new legislation on crypto assets in Europe, including "stringent requirements" on companies that issue stablecoins with a circulating value above $5.8 million. Firms will also have to publish a white paper with mandatory disclosure requirements unless they're a small project issuing stablecoins with a total value under $1.1 million. | | | The European Commission says it's aiming to boost innovation while protecting consumers. But the International Association for Trusted Blockchain Applications has concerns. It fears the proposals could "overburden a young and innovative industry with costly and complex compliance and legal requirements that are disproportionate to the policy objectives it pursues." | | #2. Glassnode: Uniswap team may have misled community over team token vesting | | | Uniswap's decentralization has been called into question, with a recent post from Glassnode insinuating that the platform's developers might have intentionally misled the community over how the team's allocation of UNI tokens will vest over time. | | | The platform's team, investors and advisors have been allocated 40% of all UNI tokens, and although these are meant to be distributed over four years, there's a lack of a public schedule, and some of these tokens may not be locked. | | #3. 100 million worldwide now use crypto-based assets, Cambridge study says | | | A new study by the Cambridge Centre for Alternative Finance recently revealed that 100 million people around the world currently hold Bitcoin and other blockchain-based assets. | | | This is a 189% increase from 2018 when there were estimated to be 35 million identity-verified crypto users worldwide. Figures from the third quarter of 2020 also showed there are up to 191 million accounts at crypto exchanges — a number that doesn't include self-hosted wallets. | | #4. Prediction of the Week Bitcoin's "worst-case scenario" is now $7,000, trader Tone Vays says | | | Bitcoin hitting $7,000 is now the "worst-case scenario," Tone Vays believes. On his podcast, the veteran trader said $9,000 would serve as a very good "buy-the-dip" opportunity. Vays added that he thinks $9,000 is the "most realistic" outcome should a bearish trend take hold of the Bitcoin markets. | | | BTC/USD has maintained $10,000 support this week but has so far failed to reclaim higher levels after its fall from $11,000 several days ago. According to Vays, "the sky's the limit" if Bitcoin reclaims $12,000. | | #5. FUD of the Week Most Americans are against a CBDC, survey reveals | | | A new study suggests that the majority of American citizens are against the introduction of a central bank digital currency. Of the 400 people who responded to Genesis Mining's questions, more than 50% were opposed to the proposition that the government should abandon paper money in favor of a digital dollar. | | | There were some proposing signs in this year's survey. Close to 25% said they agreed cash should be replaced by a CBDC — twice as many as last year. | | #6. FUD of the Week Major Indian exchange proposes new regulatory framework to avoid crypto ban | | | One of India's biggest trading platforms says it has developed a framework to regulate cryptocurrency in the country. BuyUcoin, which has more than 350,000 users, described the framework as a draft set of community-driven rules, propositions and implementation methods. | | | The exchange also said that it has the support of "all Indian cryptocurrency stakeholders." BuyUcoin CEO and co-founder Shivam Thakral described the framework, which will be presented to the Indian government, as "the first milestone of a long journey for making cryptocurrency accessible to the masses." | | Feel free to explore the most important news with Hodler's Digest:
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