Crypto Research
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Investors will be watching closing pricing on GBTC and BTCC today as the premium to NAV for the Grayscale Bitcoin Trust fell into negative territory at yesterday’s close, dropping below the premium for leading Canadian ETF Purpose Bitcoin. THE HEADLINES [Members Area Crypto] ECB WANTS VETO POWER OVER STABLECOINS www. reuters. com The European Central Bank has issued a legal position stating the Europoean central bank should have the final word on whether...
I have added the Purpose Bitcoin ETF (TSX: BTCC.U), the first and largest bitcoin ETF (so far) to the daily market recap. Of interest to many is the premium to NAV of BTCC.U compared to the premium to NAV for the Grayscale Bitcoin Trust (NASDAQ: GBTC). _CRYPTO FEAR & GREED INDEX_ It may surprise you that the Fear & Greed Index for bitcoin and other large cryptocurrencies is basically unchanged on the week posting...
THE HEADLINES [Members Area Crypto] SOUTH KOREA TO TAX CRYPTO TRADING, GIFTS AND INHERITANCE www. koreaherald. com South Korea’s Ministry of Economy and Finance announced that a 20% tax on crypto trading will be imposed on profits over 2.5 million won ($2,247) starting in 2022 – this compares to the 50 million won ($44,958) tax-free waver on public stocks. Additionally, taxes will be levied on inheritance and gifts of digital...
THE HEADLINES [Members Area Crypto] RUSSIA LOOKING TO ALLOW BANK TO OPEN DIGITAL RUBLE ACCOUNTS www. rt. com Russia’s Central Bank plans to introduce a new two-level model for the digital ruble allowing commercial banks to open wallets for their clients on the central bank’s platform to conduct operations. [Members Area Crypto] CRYPTO REGULATION MUST SAFEGUARD INVESTORS www. cnbc. com Treasury Secretary Janet Yellen says bitcoin is a “high speculative...
THE HEADLINES [Members Area Crypto] MASTERCARD PARTNERS WITH SAND DOLLAR www. mastercard. com The Central Bank of the Bahamas announced a new program allowing users of the nation’s digital Sand Dollar to pay for goods and services using Mastercard’s payment platform. [Members Area Crypto] RIKSBANK PILOTING SOLUTION FOR E-KRONA www. riksbank. se Sweden’s Central Bank announced it is conducting a pilot program to develop proposals for a technical solution for...
As we noted last week, Tesla recently announced it had added $1.5 billion of Bitcoin to its balance sheet. The announcement came less than two weeks after Elon Musk added Bitcoin to his Twitter bio, an act that caused a huge buzz amongst crypto enthusiasts. Tesla’s Bitcoin purchase adds to the growing list of public companies that are buying and holding Bitcoin in their treasuries. Source: https://bitcointreasuries. org/ Excluding Tesla,...
THE HEADLINES [Members Area Crypto] DIGITAL CURRENCIES WILL NOT THREATEN DOLLAR www. cnbc. com St. Louis Federal Reserve President James Bullard does not believe bitcoin poses a serious threat to the US dollar’s reserve currency status comparing the current increase in privately issued digital currencies to the nonuniform currencies issued by commercial banks before the civil war. Calling this “currency competition,” Bullard added that “investors want a safe haven. They...
THE HEADLINES [Members Area Crypto] RUSSIAN DUMA APPROVES CRYPTO TAX BILL www. cointelegraph. com Russia’s legislative authority, the Duma, has approved a bill on crypto taxation recognizing digital currencies as property and requiring tax payments on digital currency transactions above 600,000 rubles ($8,100) in a given year. Under the amended tax code, non-payment or incomplete-payment violations will be fined 40% of the unpaid amounts. [Members Area Crypto] THAI SEC HOLDING...
THE HEADLINES [Members Area Crypto] INDIAN CRYPTO INVESTMENT BAN SEEMS IMMINENT www. bloombergquint. com Bloomberg is reporting that an unnamed senior Finance Ministry official says the Indian government plans to go ahead with a complete ban on crypto investments allowing current investors a transition period three-to-six month to exit their holdings. [Members Area Crypto] NIGERIAN SEC SUPPORTS CENTRAL BANK'S CRYPTO BAN www. dailypost. ng Nigeria’s Securities and Exchange Commission has...
THE HEADLINES [Members Area Crypto] YELLEN SEES MISUSE OF CRYPTO AS 'GROWING PROBLEM' www. home. treasury. gov Treasury Secretary Janet Yellen sees the misuse of cryptocurrencies and virtual assets as a growing problem, but says there is ‘promise’ in these new technologies and is committing “ to help scale and leverage that kind of responsible innovation.” [Members Area Crypto] LAGARDE DOES NOT SEE CENTRAL BANKS HOLDING BITCOIN AS TREASURY RESERVE...
THE HEADLINES [Members Area Crypto] ECB LOOKING TO PROTECT BANK DEPOSITS WITH DIGITAL EURO ROLLOUT www. ecb. europa. eu Fabio Panetta, deputy governor of the Bank of Italy and an executive member of the European Central Bank (ECB), says that the ECB is looking to avoid an impact to bank deposits by only allowing individuals to maintain digital holdings at the ECB up to a “certain threshold” possibly around €3,000...
Gemini dollar (GUSD) has broken the $100 million marketcap and has been added to the daily tracking chart above. _CRYPTO FEAR & GREED INDEX_ The Fear & Greed Index for bitcoin and other large cryptocurrencies jumped 12 points over night reaching 95, a repeat of its highest level ever and a level not posted since January 6th, on news that Tesla had bought $1.5 billion in bitcoin. The index rose 19...