Banks and Institutions
Eric Woerth wants to tax-free cryptocurrencies under certain conditions
Chairman of the Finance Committee, Eric Woerth wants to defund capital gains on cryptocurrencies if they are reinvested “in the real economy or the cultural field”, like traditional investments, so that it can benefit the economy. The government has confirmed it is exploring ways to turn investments in cryptocurrencies into physical investments.Source : Cryptoast
Basel Committee proposes strict capital protection rules for banks
The Basel Committee, the international banking regulatory body, is proposing the establishment of strict capital security rules for banks exposed to crypto assets. The body proposes that banks offering crypto products such as Bitcoin to their customers should be required to hold the capital necessary to fully repay any losses that may occur in this market, The committee considers this decision to be a minimum, and that stricter regulations could be put in place.Source : The Block Crypto
Cooperation between the Banque de France and the Swiss National Bank
The Banque de France has announced that it is partnering with the Swiss National Bank, as well as a number of private sector companies such as Credit Suisse and Natixis, to conduct experiments on payments in central bank digital currencies, based on two of them, which will be respectively backed by the euro and the Swiss franc.Source : Cryptoast
Goldman Sachs exports to Ethereum
Goldman Sachs, after allowing trading in Bitcoin, now wants to start trading Ethereum, offering options and futures. Officials from the company said they strongly believe in the long-term institutional adoption of crypto-currencies.Source : Investing
Investors optimistic about the market according to a survey
A survey shows that experienced investors believe more than ever that we are in a bull market, despite the recent price drop. Voyager Digital surveyed 3,671 high-frequency traders: 81% of respondents are confident in the future of cryptocurrencies, and 87% plan to strengthen their digital asset portfolio.Source : Coin Telegraph
China launches first salary payments with digital yuan
After product purchases, China announces the launch of wage payments in the Xiong’an Economic Zone in blockchain-based digital yuan. The first to be affected were loggers paid in the context of public works by subcontracting companies.Source : Coin Telegraph
Coinbase partners with ForUsAll to enable crypto investments to retirement accounts
Coinbase is partnering with ForUsAll to offer cryptocurrency investments for funded retirement accounts in the US. Participants will be able to invest 5% of their retirement portfolio in select cryptoassets, such as Bitcoin and Ethereum. ForUsAll’s small business customers will be able to offer these investments to their employees.Source : The Block Crypto
Sygnum launches decentralized finance and Yield Farming
Swiss-based crypto-bank Sygnum has announced that it is moving into decentralized finance by launching regulated banking services on select tokens such as Aave, Aragon, Curve, Maker, Synthetix, Uniswap and 1inch. Sygnum also announced that it will soon make Yield Farming available to its institutional clients.Source : Cryptoast
NFT auctions continue to attract attention
Auctions of unique digital objects in the form of NFTs continue to attract attention. This time, the company Sotheby’s will be auctioning off ownership of the web’s source code, created by Tim Berners Lee in 1989, about 9,500 lines of code, which includes the http protocol and HTML.Source : The Block Crypto
Sorare announces a collaboration with the French Football Federation
Sorare, the French platform for NFTs based on digital cards of soccer players, has announced that it has entered into a partnership with the French Football Federation, which will allow them to release official cards of the French Football Team players. This is the first sports federation that will see its players represented by digital cards on a blockchain.Source : Cryptonews
Block.one reaches agreement with CAOF and will pay $27.5 million
The lawsuit between Block.one (EOS) and the Crypto Assets Opportunity Funds, which represents all of the plaintiffs in a class action lawsuit, has finally reached a verdict. Block.one has reached a settlement with CAOF and will have to pay it $27.5 million in EOS, which will be returned to the aggrieved investors over the period 2017-2019. As a reminder, the CAOF accused Block.one of misleading investors by offering unregistered financial securities as well as artificially increasing EOS’ share price.Source : Cryptoast
Taproot, on its way to being adopted on Bitcoin
Taproot, the most important update since Segwit in 2017, will most likely be adopted on Bitcoin, since more than 90% of miners are now in favor of it. It should therefore be automatically integrated into the network in November 2021. As a reminder, Taproot introduces a new, more flexible method of validating transactions, which some people liken to smart contracts, and better confidentiality.Source : Bitcoin.com
Figures of the week
As a result of the Chinese government’s decisions against miners, the mining capacity of the Bitcoin network has dropped by 5%.
11.8 million dollars
An NFT of a cryptopunk sold at Sotheby’s for $11.8 million.
According to a survey of hedge fund professionals, their portfolios could reach 10% of cryptoassets in 5 years.
8 times higher
Commissions generated on Ethereum are now 8 times higher than on Bitcoin.
23% of all ethers in circulation are now in smart contracts.