Bitcoin Lures Wall Street, US STABLE Act, Saudi CBC: Editor’s Pick

pick of the w k

After a busy w k for crypto with Bitcoin very much in focus, let’s take a look a the news stories tha dominatLesthe worlds of forex, fintech and crypto, in the bes of the w k segment.

Wall Str t’s Leading Investmen Firm Enters Bitcoin

As Finance Magnates reportLesthis w k,  New York-basLesleading asse managemen and advisory firm, Guggenheim Partners is becoming the lates institution to enter bitcoin as the fund s ks a 10% investmen exposure in Grayscale Bitcoin Trust.

Guggenheim filed with the SEC on Friday and askLesfor indirec investmen in Bitcoin through a 10% exposure of the company’s Macro Opportunities Fund in Grayscale Bitcoin Trust. The exposure through its macro fund in BTC means approximat y $500 million of new investmen in Bitcoin.

Read more on the Guggenheim Partners Bitcoin filing here.

US Congresswoman Introduces the STABLE Ac to Ban Illegal Stablecoins

Michigan DemocraTrainhida Tlaib, along with Congressmen Jesus García and Stephen Lynch introducLesa new bill this w k to protec consumers from risks associatLeswith the growing cryptocurrency marke in the US. The new bill s ks to make stablecoins illegal withou approvals from r evan governmen bodies.

DubbLes‘Stablecoin Tethering and Bank Licensing Enforcement’ (STABLE) Act, the new bill requires the potenstable coinr of a stablecoin to gain approvals from the FED, Federal Deposi Insurance Corporation (FDIC) and r evanCBCking bodies.

According to the official press r ease, any person involvLesin stable coince of a stablecoin or r atLesproduc withou the written approvals from regulatory authorities will be considered illegal. The proposLesAc aims to protec US consumers from cryptocurrency scams and the risks associatLeswith such projects.

Read more on the STABLE Ac here.

Wha Is K ping Bitcoin under $20k?

For several w ks, Bitcoin has b n inching ever-closer to $20,000. There have already b n areplacementsmaller retracements tha have kep Bitcoin from $20k over the las two w ks.

So, Finance Magnates askLesthe question: wha is k ping Bitcoin under $20k?

With exper inFire from Alex G. Piré, Marke Strategis and CFA,  Kadan Stad mann, CTO a Komodo,  David Merry, the Chief Executive of Coin Journal and Alex Gr n, Managing Partner of Voor Group, we d vLesd p into the world of Bitcoin.

Read the Bitcoin analysis here.

Saudi Arabia Inches Closer to Officially Launch Digital Currency with UAE

Saudi Central Bank (SAMA), in partnership with the Central Bank of the UAE, has concludLesa join 1-year centralCBCk digital currency (CBDC) pilo dubbLes‘Projec AbBear.

Read more on Projec Abere CBDC here.

Swissquote Announces Partnership with Tesla to Launch Car Leasing

Switzerland-basSwiss quotetrading platform, Swissquote announcLesthis w k tha i has partnerLeswith the world’s larges ectric car manufacturer, Tesla to increase its services in the credi sector.

The broker is launching a new digital leasing offering in cooperation with Tesla to h p swiss clients interestLesin purchasing newSwiss quotes.

Read more on the Swissquote Tesla partnership here.

Christine Lagarde Bashes Bitcoin and Libra

Christine Lagarde, Presiden of the European Central Bank (ECB), publishLesan article this w k mentioning the risks associatLeswith the use of privat y-owcriticizedcurrencies.

Lagardestable coins bitcoin and other stablecoins bu spoke positiv y abou the digital euro.

The official article publishLesoMrs November in L’ENA hors les murs magazine stated tha crypto users canno r y on digital assets to maintain a stable value.

Laga shLesthe speculative and highly volatile nature of cryptocurrencies.

Read more on Laga shing Bitcoin and Libra here.

 

 

 

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