Welcome to today’s cryptography overview:
BTC hasn’t been very successful in the last few days. As we reported on Saturday, the asset fell $ 16,000 to a two-month low of $ 42,000 in a matter of hours. On Sunday, they tried to recover by pumping towards $ 50,000, but the bears did not allow a price jump above this level. The subsequent refusal drove her south again to $ 47,000.
Since then, however, the bulls have strengthened. As a result, BTC has launched an impressive rise, recovering $ 50,000 and currently even above $ 51,000. That means the asset has grown by more than $ 4,000 since yesterday.
Altcoins also suffered during Saturday’s and yesterday’s slump. Today, however, most of them have risen sharply, with ETH at the head of the peloton with a 10% increase. ETH is currently above the $ 4,400 mark. 
BTC whales accumulated $ 3.3 billion coins during the market downturn
A 20% correction in the cryptocurrency market left most crypto-markets in large losses, but while some smaller traders mourned their financial losses, others, according to Santiment, took the opportunity to buy BTC and other assets at a discount.
According to social sentiment indicators such as the Fear and Greed Index, the recovery back above $ 50,000 was an unexpected move by most holders, but large traders and investors have successfully provided enough purchasing power to get BTC above a strong support zone.
According to the indicator, there was heavy dumping of coins on the weekend, when the sell-off was just beginning, and a new local accumulation period appeared as soon as the price fell below $ 45,000, which caused a rapid recovery back to $ 49,000.
The president of El Salvador has revealed that he is trading BTC for his country through his phone
President Nayib Bukele revealed on Twitter that he trades El Salvador’s BTC via his mobile phone. His comments came after a tweet about missing the bottom of the BTC price after the last purchase of 150 Bitcoins.
“I missed the bottom in 7 minutes,” Bukele wrote on Twitter as the price of BTC began to rise after announcing that the country had bought the cryptocurrency at an average price of $ 48,670.
“Do you think he’s just trading for El Salvador on his laptop?” Khun-sensei asked after his tweets. The president of El Salvador quickly cleared the air that he does not use a laptop for trading, but relies on his mobile phone for trades. His comments were interpreted as mere humor, but others criticized Bukele for his autocratic tendencies.
Banks, crypto exchanges, companies
Kotak is the first major Indian bank to accept cryptocurrencies through a partnership with WazirX
Kotak Mahindra Bank, India’s leading private bank, has partnered with WazirX, the Economic Times reported.
WazirX has opened an account with Kotak, which, according to the ET report, can be used to pay and receive money from investors. The account will be activated after the completion of all paperwork and formalities, the report states. Kotak is monitoring India’s growing crypto environment and is also negotiating with other exchanges, such as ZebPay, the report said.
In 2018, the Reserve Bank of India – the country’s central bank – banned all regulated financial institutions from providing services to crypto companies. The ban was lifted by the Supreme Court in early 2020, reducing the banking drought for crypto businesses, but public and private banks largely avoided crypto despite Supreme Court orders.
Nasdaq Stockholm lists BTC and ETH bonds
Nasdaq Stockholm has announced that 21Shares has launched its first two physically covered exchange traded bonds (ETNs) on the Swedish trading platform.
Both of these instruments, whose underlying assets are BTC and ETH, represent a new segment for ETN – a type of unsecured debt security that monitors the underlying stock index and is traded on the main stock exchange.
The new ETN is said to give investors access to investment opportunities in cryptocurrencies such as BTC and ETH.
Helena Wedin, Nasdaq’s European Head of Stock Exchange Products, said that stock exchange bonds allow you to invest in non-traditional assets while maintaining the transparency of the regulated market.
Report of the People’s Bank of China on blockchain technology and their upcoming CBDC
The People’s Bank of China is apparently considering using blockchain technology to power the CBDC for the digital yuan. This coin, also known as a digital renminbi or digital RMB, has been in beta testing for some time.
However, Di Gang, deputy director of the People’s Bank’s Institute of Digital Currencies, recently unveiled an extensive report on blockchain technology. It happened on “18. International World Financial Forum (IFF) “on 5 December.
Their CBDC is a completely centralized affair. It is therefore strange that China is considering the use of blockchain.
In 2022, the Japanese financial regulator may propose legislation restricting the issuance of stablecoins
According to The Nihon Keizai Shimbun (Nikkei), one of the world’s largest financial newspapers and the entity behind the Nikkei 225 stock index, Japan’s Financial Services Agency (FSA) will propose legislation next year restricting the issuance of stablecoins to banking and transfer companies. Theoretically, this would prevent entities such as Tether (USDT), which does not operate as a bank and is regulated only in the British Virgin Islands, from trading with Japanese customers.
However, the newly proposed rules would only apply to some issuers of stablecoins. For example, the issuer USD Coin (USDC) Circle plans to become a cryptobank registered in the United States. While stablecoin issuers operate only as private companies, they are usually exempt from financial reporting, auditing or regulatory oversight, leading to remarkable speculative claims that Tether may not have sufficient reserves to support USDT.
In addition, the FSA plans to tighten regulations in areas such as the prevention of proceeds of crime, user identity verification and suspicious transaction reporting for both stablecoin issuers and wallet providers.