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BitDigest April 21 · Issue #885

Apr 21, 2021
Author
Gregory Landegger
Gregory Landegger
  • Crypto prices stabilize as marketcap unchanged over 24-hours
  • Ukraine passes draconian law requiring citizens to disclose crypto holdings
  • Venmo adds crypto to payments platform
BitDigest April 21 · Issue #885

The Headlines

BitDigest April 21 · Issue #885

Ukraine Passes Law Against Citizens Hiding Digital Currencies

www.news.bitcoin.com
Ukraine’s parliament has passed a law that will prosecute any citizen that fails to disclose digital currencies holdings above $4,000 with up to two-years in jail and a fine of up to $200,000.
BitDigest April 21 · Issue #885

China Should Not Rush Into Digital Yuan for Cross-Border Payments

www.reuters.com
Zhou Xiaochuan, the former governor of the People’s Bank of China said that China should not rush to use the digital yuan for cross-border payments due to regulatory obstacles and foreign concerns about its global impact and instead should focus on the domestic retail market.
BitDigest April 21 · Issue #885

Crypto Tax Bill Being Drafted in Senate

www.twitter.com
🐦📺Senator Rob Portman (R-OH) is drafting a new bi-partisan bill to define digital currencies for tax purposes to help close the stated $1 trillion tax gap.
BitDigest April 21 · Issue #885

Will the World’s First Ether ETF Please Stand Up

www.tsx.com
📈Yesterday, three companies began trading ether ETF’s on the Toronto Stock Exchange with claims of being the “world’s first ether ETF.” Evolve (TSX: ETHR.U), CI Galaxy Ethereum ETF (TSX: ETHX.U), and Purpose Ether ETF (TSX: ETHH.U) traded up 4.63%, 5.25% and 4.84% respectively. Galaxy and Evolve has waived all management fees for the first several weeks.
BitDigest April 21 · Issue #885

HIVE Completes Share Swap with DeFi Technologies

www.mailchi.mp
📈HIVE Blockchain (TSX.V: HIVE) has completed the previously announced share swap acquiring a 5% interest in DeFi Technologies providing the crypto miner with greater activities in the ethereum ecosystem targeting miner extractable value (MEV) the amount of profit miners can extract from reordering and censoring transactions on the blockchain.
BitDigest April 21 · Issue #885

Venmo Adds Crypto Trading Support

www.prnewswire.com
📈Paypal’s (NASDAQ: PYPL) social payment platform Venmo has added trading support for bitcoin (BTC), ether (ETC), litecoin (LTC) and bitcoin cash (BCH) as a new feature allowing its more than 70 million customers the opportunity to buy, hold and sell cryptocurrencies directly within the app.
BitDigest April 21 · Issue #885

WeWork to Accept Crypto Payments

www.businesswire.com
WeWork will begin to accept digital currencies including bitcoin (BTC), ether (ETH) and USD coin for payment at its workspaces; the company plans to hold all cryptocurrencies received on its balance sheet.
BitDigest April 21 · Issue #885

Diem Looking to Launch Pilot in 2021

www.cnbc.com
Diem, formerly known as Libra, is working with Swiss financial regulators to secure and payments license and is looking to launch a USD pegged stablecoin pilot later this year.
BitDigest April 21 · Issue #885

TradeBlock Rebrands Indexes Under Coindesk Name

www.coindesk.com
Following its acquisition of Tradeblock, CoinDesk is rebranding the firms crypto indexes, including the flagship TradeBlock Bitcoin XBX under the CoinDesk moniker.

Mergers & Acquisitions

BitDigest April 21 · Issue #885

Galaxy Rumored to Buy BitGo

www.coindesk.com
📈CoinDesk is reporting that Galaxy Digital (TSX: GLXY) is in talks to acquire leading crypto custodian Bitgo.

Exchange, Custody and Product News

BitDigest April 21 · Issue #885

Gemini AUC Reach $25 Billion Level

www.gemini.com
Gemini announced that assets under custody (AUC) at the Winklevi led digital exchange have surpassed $25 billion doubling AUC since the beginning of the year.

Thoughts on the Ecosystem

BitDigest April 21 · Issue #885

FATF Needs Different Approach to Address Illicit Activity Across DeFi

www.blockchainassoc.medium.com
The Blockchain Association has submitted a response on the Financial Action Task Force’s (FATF) draft guidance expressing fears that the proposed approach to addressing potential illicit activity in the decentralized financial ecosystem would be ineffective and is recommending that the FATF spend the next year collaborating with industry stakeholders and other relevant bodies to create a new framework that will actually prevent the illicit exploitation of virtual assets and decentralized finance.
BitDigest April 21 · Issue #885

Digital Yuan Not Ready to Replace USD

www.imf.org
The IMF’s Director of Research Gita Gopinath told participants at Bloomberg’s Ascent of Digital Money webinar that she is skeptical the Chinese RMB can replace the US dollar defining that the yuan needs to be much stronger across multiple institutions with stronger rules of law, trusted public institutions, deep financial markets, and greater inventory production.
BitDigest April 21 · Issue #885

Bitcoin Still Has Room to Run

www.cnbc.com
Investor Bill Miller, a long time bitcoin proponent, said he believes that the digital currency is firmly entering into the mainstream, contending the recent rally is significantly different from its 2017 ascension and subsequent plunge.

Daily Comic

BitDigest April 21 · Issue #885

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