Crypto Research
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THE HEADLINES [Members Area Crypto] SWEDEN TO BRING BANKS INTO NEXT STAGE OF E-KRONA PROJECT www. reuters. com Sweden’s central bank has completed the first phase of its CBDC and plans to expand the e-krona digital currency initiative by bringing in banks over the next year to test how its proposed digital currency will handle commercial and retail payments in the real world [Members Area Crypto] ARGENTINEAN CENTRAL BANK ASKS...
THE HEADLINES [Members Area Crypto] RUSSIA EYEING BLOCKCHAIN-BASED ALTERNATIVE TO SWIFT www. coindesk. com The deputy head of Russia’s Ministry of Foreign Affairs believes that the development of blockchain technology has demonstrated that global settlements can take place on a new technological platform instead of the US dominated SWIFT payments network. [Members Area Crypto] MAS ISSUES ANOTHER CRYPTO WARNING www. mas. gov. sg The chairman of the Monetary Authority of...
GBTC announces plans to convert to an ETF which should help close the -9% NAV premium gap
The largest U.S. exchange traded products, GBTC and ETHE, for the largest two crypto assets, Bitcoin and Ethereum, have been trading at a persistent discount to their NAV for a little over a month, with GBTC sitting around -9% and ETHE sitting around -5%. Source: Bloomberg (Date: 4/5/2021) Much of the discount has been the result of investors expecting a U.S. listed Bitcoin ETF in the near future after the...
THE HEADLINES [Members Area Crypto] THAI CENTRAL BANK TO TEST DIGITAL BAHT NEXT YEAR www. reuters. com The Bank of Thailand announced plans to begin testing a retail central bank digital currency in the second quarter of next year before fully implementing it over the next 3-5 years. [Members Area Crypto] JAPAN BEGINS PHASE ONE OF CBDC EXPERIMENTS www. reuters. com The Bank of Japan (BOJ) has begun a year-long...
CRYPTO SPECIAL REPORT: Avalanche: Building a Novel dApp Protocol for the Internet of Finance
Ava Labs is building the Avalanche protocol which expects to deliver the highest performance, most secure, and most energy efficient general-purpose cryptonetwork for highly decentralized applications, novel financial primitives, and new interoperable blockchains. Using its innovative Avalanche consensus mechanism, the protocol hopes to create a new digital crypto-native economy for frictionless real-world and digital asset exchange, composable financial application primitives and derivatives, Web 3.0 privacy-focused data and social applications, and...
The Indian e-commerce company subsequently tweeted that it was not bitcoin, but “supercoin,” adding the hashtag AprilFools Day. THE HEADLINES [Members Area Crypto] LAGARDE SAYS DIGITAL EURO LAUNCH WILL TAKE 4 YEARS www. bloomberg. com European Central Bank (ECB) President Christine Lagarde said that the ECB “owe[s] it to the Europeans” to issue a central bank digital currency in a proper way as “it’s a technical endeavor as well as a fundamental change…to...
THE HEADLINES [Members Area Crypto] BRITAIN TO FOCUS CRYPTO REGULATIONS ON STABLECOINS www. reuters. com Britain’s Economic Secretary to the Treasury John Glen says his country will focus its efforts on regulating stablecoins as a first priority saying “[Britain needs] to manage risks to competition… There is the potential for some firms to swiftly achieve [stablecoin] dominance and crowd out other players, due to their ability to scale and plug...
THE HEADLINES [Members Area Crypto] US AND EUROPEAN UNION DISCUSSED DIGITAL ASSETS AT VIRTUAL www. home. treasury. gov The Department of Treasury announced that the US and European Union participated in a virtual, financial regulatory forum where they exchanged views on recent developments and regulatory proposals involving new forms of digital payments, including crypto-assets, stablecoins, and central bank digital currencies. [Members Area Crypto] IOWA HOUSE APPROVES SMART CONTRACTS BILL www....
THE HEADLINES [Members Area Crypto] UK EXPECTING NEW CRYPTO TAX GUIDANCE www. theblockcrypto. com The UK’s tax authority is expected to release new guidance on crypto taxation this week consolidating two exiting pieces of guidance on crypto tax into a single “crypto manual.” [Members Area Crypto] DFSA RELEASES PROPOSED FRAMEWORK FOR SECURITY TOKENS www. dfsa. ae The Dubai Financial Services Authority (DFSA) issued a draft of a regulatory framework for...
THE HEADLINES [Members Area Crypto] CHINA PROPOSES GLOBAL RULES FOR CBDCS www. reuters. com The director-general of the PBOC’s digital currency institute announced that “interoperability should be enabled between CBDC (central bank digital currency) systems of different jurisdictions and exchange” with “information flow and fund flows … synchronized so as to facilitate regulators to monitor the transactions for compliance.” [Members Area Crypto] DCEP TO CO-EXIST WITH PAPER MONEY AND CHINA'S...
Bitcoin has rebounded to new highs and pulled back again since our last market update on Bitcoin two weeks ago. We may sound like a broken record, but we remain bullish on Bitcoin and crypto and see further upside during the balance of the year. A FEW REASONS WE SEE FOR THE RECENT PULL BACK: -Traders repositioning ahead of $6B largest ever Bitcoin options expiration tomorrow -Traditional institutions new to...