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Soon a regulatory framework for stablecoins in the United States?

20 July 2021

Temps de lecture 3 minutes

Manuel Valente

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Table of content

Banks and Institutions
Crypto Ecosystem
Some figures

Banks and Institutions

A majority of institutional investors ready to buy digital assets

New data shows that institutional investor interest in cryptocurrencies continues to grow. Fidelity Digital Assets commissioned Coalition Greenwich to survey 1,100 institutional investors to understand their expectations for investing in digital assets. The majority of investors surveyed expect to invest in digital assets over the next few years. The survey was conducted between December 2020 and April 2021 with participation from high net worth investors, family offices, digital and traditional hedge funds and financial advisors.

Source : Coin Telegraph

Janet Yellen calls for rapid implementation of a regulatory framework for stablecoins

U.S. Treasury Secretary Janet Yellen said Monday that regulators must act quickly to establish a regulatory framework for stablecoins. Some U.S. regulators are expected to issue recommendations in the coming months, not wanting to be left behind by rapid technological developments in the digital asset ecosystem and advances on the digital Yuan.

Source : Reuters

JPMorgan is hiring like crazy for its Onyx blockchain unit.

JPMorgan appears to be looking to strengthen its position in the Blockchain sector through some of these hires. A recruitment drive is underway, with positions in audit, engineering and marketing, as revealed in several posts on LinkedIn. The bank announced in October 2020 that it would consolidate all of its blockchain-related products and services into a new business unit, called Onyx.

Source : The Block Crypto

Crypto Ecosystem

Decentralized finance on Bitcoin coming soon?

Twitter and Square founder Jack Dorsey wants to launch a new project to help develop decentralized finance (DeFi) on Bitcoin. On July 15, he said: ”Square is creating a new venture (…) focused on building an open platform for developers with the sole purpose of facilitating the creation of decentralized, non-custodial financial services. Our primary focus is Bitcoin. It remains to be seen whether this ambitious project will succeed. For despite the aura of Bitcoin, competition is already stiff and numerous in the DeFi sector.

Source : Journal du Coin

Binance removes tokenized stocks from its platform

Chinese exchange Binance announced on July 16 that it will stop offering tokenized shares. The decision is effective immediately. It came hours before the Hong Kong regulator (SFC) warned that Binance is not allowed to conduct “regulated activity” in the city, and more specifically to offer tokenized shares. Binance is definitely the target of regulators around the world. Such declarations have multiplied lately, notably in Japan, Germany, Italy and recently in Belgium. Note that other exchanges are not particularly worried for the moment.

Source : The Block Crypto

Big wallets continue to accumulate bitcoin, despite recent declines

While Bitcoin has fallen through the $30,000 threshold, statistics suggest that large wallets are still accumulating bitcoins. Indeed, a report from Glassnode indicates that every month, 36,000 bitcoins are moved from exchange platforms by large wallets, presumably to secure storage solutions. In other words, the whales are still accumulating bitcoins and have no intention of selling them at this time.

Source : Coin Telegraph

Elon Musk to attend Bitcoin-focused conference

This Wednesday, the Bitcoin-centric conference “The ₿ Word” will host several important figures such as Elon Musk, along with other big names such as Jack Dorsey, head of Square and Twitter, or Cathie Wood, head and founder of Ark Invest.

Source : The Block Crypto


Focus on the ETHCC conference

ETHCC, or Ethereum Community Conference, Europe’s largest conference focused on Ethereum Technology started today and will end on July 22. This year’s main topics will include the imminent release of ETH 2.0, the evolution of decentralized finance, and NFTs.

Source : Coin Tribune

A French art gallery offers the possibility to pay in crypto

This is a rather rare initiative that deserves to be highlighted. The Harmattan Art Gallery, located in Megève, offers the possibility to buy artworks in cryptocurrencies. The process remains quite similar to a classic purchase in fiat currency. The price of the artworks is in euros but is converted into stablecoin when the invoice is issued, which shows the usual legal mentions specifying the price equivalence in USDT, USDC, DAI… depending on the customer’s choice. The payment of the work is done on an ERC20 address. The work is then to the customer when the receipt of the amount in crypto is confirmed. What to create bridges between the world of art and the world of cryptocurrencies and NFTs.

Source : Journal du Coin

Some figures

29 880 bitcoins

An entity with 144,000 bitcoins recently purchased an additional 29,880 bitcoins for nearly $1 billion, despite not having traded on the market since 2018.

Source : Twitter

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