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BitDigest April 12 · Issue #878

Apr 12, 2021
Author
Gregory Landegger
Gregory Landegger
  • Crypto marketcap re-breaks $2 trillion level
  • Pakistan looking at CBDC ahead of digitization explosion
  • HSBC blocking clients from buying crypto related stocks
BitDigest April 12 · Issue #878

The Headlines

BitDigest April 12 · Issue #878

Biden Team Eyes Potential Threat From Digital Yuan

www.bloomberg.com
Bloomberg is reporting that the Biden Administration is stepping up scrutiny of China’s plans for a digital yuan, with officials concerned the move could kick off a long-term bid to topple the dollar as the world’s dominant reserve currency.
BitDigest April 12 · Issue #878

Pakistan 'Waiting to Burst' with Digitization Efforts

www.twitter.com
🐦📺The Governor of the Bank of Pakistan says his country is “waiting to burst in terms of digitization” and is therefore studying the possibility of issuing a central bank digital currency and sees two main benefits in the development of a CBDC: financial inclusion and as a tool to fight terrorist financing and impose AML sanctions.
BitDigest April 12 · Issue #878

Nigeria Blocks Companies from Using Required Verification Service

www.decrypt.co
In what appears to be due to a technology upgrade, the Nigerian government has blocked fintech companies from accessing the country’s identify verification system which is required to allow companies to perform mandatory customer identity checks on new accounts.
BitDigest April 12 · Issue #878

German Greens Highlight Digitization and Virtual Currencies in Manifesto

www.cms.gruene.de
Ahead of September’s upcoming federal election, Germany’s Green Party has issued a Manifesto of Principles which highlights party thoughts in support of digitization and states that “central banks should create their own standards for digital currencies” warning that private currencies could undermine the currency’s monopolies. The Manifesto also recommends that digital payments and cryptocurrencies be “traceable… to combat crimes such as money laundering, depictions of sexual violence against children, tax evasion and the financing of terrorist activities.”
BitDigest April 12 · Issue #878

SEC Begins Review of WisdomTree Bitcoin Trust

www.sec.gov
The SEC issued a public notice formally announcing a review of the WisdomTree Bitcoin Trust application, inviting interested parties to comment on the proposed rule change to allow the ETF to trade on the Cboe BZX exchange.
BitDigest April 12 · Issue #878

Krytoin ETF also Looking at Cboe

www.sec.gov
📈Digital currency asset manager Kryptoin has filed an amendment to its 2019 application for a bitcoin ETF changing its intended venue from the NYSE Arca to the Cboe BZX.
BitDigest April 12 · Issue #878

The9 Buying More Mining Rigs

www.prnewswire.com
📈The9 Limited (Nasdaq: NCTY) published its intention to buy bitcoin miners adding 388 Phash/s of capacity to the Chinese gaming company.
BitDigest April 12 · Issue #878

HSBC Barring Clients From Buying Stock in Companies That Hold Virtual Currencies

www.news.bitcoin.com
📈HSBC appears to have changed its policy on virtual currencies and will no longer “participate in facilitating (buy and / or exchange product[s] related to virtual currencies, or products related or referencing to the performance of a virtual currency” like shares in MicroStrategy (NASDAQ: MSTR).
BitDigest April 12 · Issue #878

Ripple Executives' Financial Records will Not be Disclosed in SEC Case

www.courtlistener.com
⚖️The Southern District Court of New York has sided with Ripple and will not allow the SEC to obtain “the entirety of “ Chairman Chris Larson and CEO’s Brad Garlinghouse’s financial records over an eight-year period as part of discovery in its case.
BitDigest April 12 · Issue #878

CipherTrace Launches DeFi Compliance Solution

www.prweb.com
Blockchain intelligence firm CipherTrace has launched DeFi Compli, a a compliance solution enabling DEXs and other DeFi applications to abide by Office of Foreign Assets Control (OFAC) sanctions requirements

Thoughts on the Ecosystem

BitDigest April 12 · Issue #878

Bitcoin is a Speculative Asset, Not a Currency

www.ecb.europa.eu
European Central Bank Executive Board Member Isabel Schnabel says it is “wrong to describe bitcoin as a currency, because it does not fulfill the basic properties of money. It is a speculative asset without any recognizable fundamental value and is subject to massive price swings.” Schnabel warns that cryptocurrencies remain a “very fragile system” that could be impacted by rapid evaporation of crypto market trust.
BitDigest April 12 · Issue #878

Digital Pound Would Boost post-Brexit London

www.reuters.com
The UK-based City United Project think tank believes a DBDC should be a “greater priority” for the British goberment suggesting that “a central bank digital currency (CBDC) should be a fundamental foundation for a competitive [London financial hub] after Brexit,“ and a response to China’s ‘threatening’ activities.

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