Crypto Research

After raising our outlook 50% from $25,000 to $40,000 on December 30th, Bitcoin quickly rose to reach our target late last week. Prices then started to consolidate and slide over the weekend before retracing ~25% down to ~$30,000 and now rebounding to ~$33,800. Bitcoin and crypto are volatile assets, but the speed at which prices moved to hit our target was quite fast and we think a pull back is...

🅱️_BitDigest will not be published tomorrow, Tuesday January 12th, and return on Wednesday morning._ THE HEADLINES [Members Area Crypto] ECB ASKING FOR FINAL THOUGHTS ON CBDC www. twitter. com 🐦The European Central Bank tweeted that its public consultation period on its central bank digital currency is open until January 12th asking respondents to share “views on the benefits and challenges of issuing a digital euro and on its possible design.”...

THE HEADLINES [Members Area Crypto] BOENGLAND GOVERNOR QUESTIONS DIEM'S BUSINESS MODEL www. theblockcrypto. com Bank of England Governor Andrew Bailey publicly questioned the business model of the Diem stablecoin project asking if its “actually in the privacy of information, in terms of access to information?” [Members Area Crypto] SOUTH KOREA IMPOSES 20% CRYPTO TAX www. en. asiatoday. co. kr South Korea has formally decided to tax any crypto profits above...

Highlights from the North American listed crypto, blockchain and mining stocks:Marathon Patent Group (NASDAQ: MARA) is the top performing stock of the week returning over 55%. The company announced the signing of a non-binding memorandum of understanding to create North America’s first cooperative mining pool. MARA also completed its previously announced $200 million shelf offering ending the 2020 fiscal year with $217 million in cash on its balance sheet.Chinese mining equipment manufacturer Canaan has...

THE HEADLINES [Members Area Crypto] COLOMBIA ALLOWS LOCAL COMPANIES TO BUY BITCOIN www. news. bitcoin. com In an effort to inject capital into the financial system, the Superintendency of Corporations in Colombia, the department of Commerce, Industry and Tourism’s regulatory watchdog, has formally allowed companies to purchase bitcoin as an “intangible asset” as long as local regulations are followed – digital currencies are still not officially regulated in the South...

THE HEADLINES [Members Area Crypto] OCC PERMITS BANKS TO USE STABLECOINS AND BLOCKCHAINS www. www2. occ. gov The Office of the Comptroller of the Currency has issued a statement allowing national banks and federal savings associations to use blockchains and stablecoins for payment and settlement activities. [Members Area Crypto] UKRAINIAN TO DEVELOP CBDC WITH STELLAR www. stellar. org The government of Ukraine has signed a memorandum of understanding with the...

THE HEADLINES [Members Area Crypto] OVERSEAS CRYPTO HOLDINGS HELD BY US CITIZENS WILL NEED TO BE REPORTED www. fincen. gov The Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued announced its intention to add a new requirement to the Bank Secrecy Act requiring any account holding over $10,000 in digital currencies in a foreign jurisdiction to be reported. [Members Area Crypto] CONGRESSIONAL LEADERS ASK TREASURY FOR DELAY REGARDING SELF-HOSTED...

THE HEADLINES [Members Area Crypto] GMO RECEIVES BITLICENSE FOR YEN STABLECOIN www. dfs. ny. gov New York’s Department of Financial Services has granted a bitLicense charter to a US-based subsidiary trust company of Japanese internet company GMO to issue, administer, and redeem Japanese Yen and U.S. Dollar-pegged stablecoins. [Members Area Crypto] PRETRIAL HEARING SET IN RIPPLE CASE www. courtlistener. com New York’s Southern District Court judge Analisa Torres has set...

MARKET RESPONDS TO XRP CHARGES (CONTINUED) More exchanges have decided to halt trading of XRP due to the recent SEC law suit:After saying it was in a ‘holding pattern,’ Coinbase announced it would suspend XRP trading on January 19th. This decision will not affect customers’ access to XRP wallets which will remain available for deposit and withdraw functionality after the trading suspension.Crypto. com is also suspending trading activity for XRP and will delist XRP from...

MARKET RESPONDS TO XRP CHARGESCrypto entities are responding to the SEC’s XRP charges with leading market actors halting activity in XRP:Bitwise liquidated its entire position in XRP (approximately 3.8%) in its hotly traded Bitwise 10 Crypto Index Fund (OTCQX: BITW).Both Jump Trading and Galaxy Digital have stopped making markets in XRP.Bitstamp has halted XRP trading and deposits for US customersCoinbase reportedly has not made any decision and is in a “holding pattern” on the topic of suspending / delisting XRP.London-based digital exchange, B2C2 has stopped trading...

🎄Today will be the last issue of BitDigest published this week. I will provide updates early next week, but I am planning to spend some time over the remaining days of 2020 sleeping in and celebrating the holidays with my family. Wishing everyone a very Merry Christmas and happy holidays.🎅🏻 THE HEADLINES [Members Area Crypto] SEC FILES CHARGES AGAINST RIPPLE AND COMPANY EXECUTIVES www. sec. gov The US Securities and...