06.07.[News of the day] • The Japanese CBDC could be decisive in the war for payment rights • and other articles

Welcome to today’s overview of crypto news:

MARKETS

Primary cryptocurrency dropped to just over $ 33,000 yesterday. It happened shortly after reaching a four-day high of $ 36,000 over the weekend. However, after the last slump, the bulls regained control and moved the asset north again. As a result, BTC has recovered nearly $ 2,000 and is close to breaking the $ 35,000 mark again.

After yesterday’s small loss, today most altcoins are in the green. ETH sank below $ 2,300, but a 3% increase drove the asset well above that level.

Technical analysis: BTC / USD – BTC threatened depending on the global financial market?

Cryptocurrencies

The BTC mining facility raises environmental concerns on Lake New York

The Greenidge mining site in upstate New York continues to provoke resistance, this time from locals over the allegedly rising water temperature.

Members of the community around Lake Seneca, the largest of the famous Finger Lakes in upstate New York, are protesting the operation of the recently rebuilt Greenidge Power Plant. The device is now fully utilized for the extraction of BTC, which is known for its massive energy absorption. Atlas Holdings owns a power plant operated by Greenidge Generation LLC.

One of the locals remarked that the lake is currently so warm that it feels like a hot tub. Both the increase in the temperature of the lake and the air quality are protest points for the inhabitants of the surrounding municipalities.

Data from the BTC exchange indicates that the peak of the sale is behind us

According to the cryptanalytic company Santiment, BTC’s offer on the cryptocurrency exchanges reached its lowest point since January, which indicates that the worst sell-off is over.

Santiment announced on Twitter yesterday that the six-month low is a promising sign, as it will generally indicate that the risk of further big sales is decreasing.

At the end of May, BTC saw a massive sell-off, probably due to a number of bad news for the market, including interventions against cryptocurrency mining in China and the Huobi Exchange, which consequently reduced its supply of cryptocurrencies.

Banks, crypto exchanges, companies

The Pavilions hotel chain will start accepting crypto payments

The global resort group Pavilions Hotels & Resorts will allow its customers to book in cryptocurrencies from tomorrow. Pavilions has partnered with British payment service Coindirect to allow guests paying in more than 40 cryptocurrencies to book group stays throughout its hotel chain in Asia and Europe. He also accepts cryptocurrencies when buying his property on the Thai island of Phuket and in the Japanese city of Niseko.

The Thailand-based company hopes to expand the possibilities of using cryptocurrencies to purchase additional goods and services at its centers in the future.

CoinShares takes over ETF index trading from Alan Howard’s crypto firm

European digital asset manager CoinShares has announced that it is buying an index-traded index trading (ETF) index from Elwood Technologies’ crypto for $ 17 million. The transaction is scheduled to close in the second week of July.

Elwood, owned by billionaire and hedge fund manager Alan Howard, is known for its partnership with Invesco, which launched the Invesco Elwood Global Blockchain Equity UCITS ETF, Invesco Blockchain ETF. By providing exposure to internationally listed blockchain companies, the index has accumulated more than $ 1 billion in assets since its inception in 2019.

According to the announcement, the transaction will be settled through a stock swap. At $ 13.09 per share, CoinShares will issue 1,298,322 new ordinary shares totaling nearly $ 17 million.

CBDC, Regulation

Barclays Bank blocks customer payments to Binance’s account

The British creditor Barclays is preventing its customers from making payments on Binance following the regulatory intervention against the stock exchange by the Financial Conduct Authority last month.

The bank said the move would not affect customers’ ability to withdraw funds from Binance and would continue to alert customers that payments had been blocked until further notice, according to customer tweets.

Late last month, it was announced that Binance Markets Ltd. currently may not perform any regulated activities without the prior written consent of the FCA. He also said that by the end of working hours on 30 June, the world’s largest cryptobourse will be forced to display a report on its website and social networks, making it clear that it is not allowed to carry out any regulated activities in the United Kingdom.

The Japanese CBDC could be decisive in the war for payment rights

Further development of Japan’s central currency digital currency (CBDC) could upset the balance in a potential war for payment service providers.

In April, the Bank of Japan (BOJ) launched the first phase of its experiment with CBDC. BOJ belongs to a group of seven large central banks that work with the Bank for International Settlements (BIS) to develop the basic elements of the CBDC.

Although it is still not definitively decided whether the CBDC will be issued, more details on its form could facilitate the debate on how the CBDC could affect financial institutions. The BOJ speculates on whether the digital would just push or interfere with private business.