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10.09.[News of the day] • Ukraine has adopted a crypto bill, although the IMF is sounding the alarm • and other articles

5 min read

Welcome to today’s overview of crypto news:

MARKETS

BTC also ran a roller coaster this week. It gradually rose to $ 53,000, but suddenly fell by $ 10,000 in a matter of hours and bottomed out to $ 43,000 on Tuesday.

It bounced back and recovered a few thousand dollars fairly quickly. For most of yesterday’s trading session, it held around $ 46,000. He tried to attack $ 47,000 and even briefly exceeded that level, but the bears returned and drove him south again. Since then, BTC is still at a well-known level – just over $ 46,000.

ETH fell from above $ 4,000 to just over $ 3,000 during Tuesday’s market slump. Since then, however, ETH has tried to regain most of its value. It got above $ 3,500 yesterday, but a 3.5% drop brought it back to around $ 3,400.

BTC analysis – are we waiting for another correction leg or are we continuing to grow?

Cryptocurrencies

The YouGov survey found that 27% of respondents support the introduction of BTC as legal tender in the United States.

A new poll found that 27% of the US population supports the government recognizing BTC as legal tender.

According to a YouGov survey of data research and analysis, 11% of respondents “strongly support” the idea that BTC should be used as legal tender in the United States, and another 16% of respondents would “support it to some extent”.

A survey of 4,912 U.S. residents found that the proposal supports more Democrat respondents than Republicans. About 29% of Democrats said they either strongly or rather supported the recognition of BTC as legal tender, compared to 26% for Republicans.

Ripple is involved in the transfer of 204.7 million XRP, while the coin drops to $ 1.09

It was shared that six large XRP stocks had been moved by Ripple, Binance, Huobi and other large crypto exchanges in the last 22 hours. Tweet has released the popular Whale Alert service, with details from the Bithump website, which provides XRP transaction and wallet analysis.

Meanwhile, the seventh largest cryptocurrency continues to decline, falling to $ 1.09. According to Whale Alert, $ 225,171,272 was transferred in XRP through Ripple, Binance, Bitstamp, Huobi, Bitfinex, Upbit, Bittrex and Bybit.

Ripple transferred 40 million XRPs to its RL18-VN address, which is often used to move cryptocurrencies out of society – to its partners, crypto-exchanges and financial institutions. This wallet is also used to sell XRP in order to acquire a Fiat to cover Ripple’s operating costs.

Banks, crypto exchanges, companies

The IOHK plans for wider adoption of Cardano (ADA) throughout Africa

John O’Connor, director of African operations at IOHK, which develops the Cardano blockchain ($ ADA), spoke in a recent interview about his company’s plans to expand the smart contract platform.

O’Connor, who previously served as head of strategy and communications at the Cardano Foundation, said in an interview with YouTube channel “Big Pey” that the team plans to demonstrate Cardano’s technical prowess in Africa after concluding an agreement with April in April. Ethiopia on the digitization of the country’s education system. He also mentioned that the IOHK is negotiating with several other African states to use the Cardano network.

O’Connor spelled out the potential partnership, saying some countries were interested in central bank digital currencies (CBDCs), remittances and microfinance opportunities. He said the IOHK was working to create a “toolkit” for what the Cardano blockchain could achieve in each nation state.

CBDC, Regulation

CBDC could lead to “deeply negative interest rates”

According to the Wall Street Journal, central bank digital currencies (CBDCs) could have a real negative impact on interest rates, as they would provide policy makers with another tool.

In a September 8 article, “Digital Currencies Pave the Way for Deeply Negative Interest Rates,” lead columnist James Mackintosh argues that the gap between CBDC and cash would widen if interest rates fell below zero. People would be more inclined to hold physical cash to “earn zero” than to lose money on a digital dollar issued by the central bank.

This means that the central bank will have more leverage on interest rates if it issues digital dollars that cannot be hidden under a mattress, he added.

The SEC has accused Rivetz of $ 18 million over the ICO and is demanding the return of “misappropriated profits

Founded in 2013, Rivetz, a now non-existent blockchain hardware company, has been accused of raising $ 18 million from more than 7,200 investors through an unregistered stock offering from more than 7,200 investors between July and September 2017.

The SEC’s September 8 complaint lists Rivetz Corp, founder Steven Sprague, and a subsidiary of Rivetz International, as defendants. The ICO revolved around the RvT token, which, according to the SEC, was promoted and sold as an investment opportunity and was used to leverage Rivetz’s cyber security application, ecosystem and hardware business.

Ukraine has adopted a crypto bill, even though the IMF is sounding the alarm

Verkhovna Rada, the Ukrainian parliament, officially adopted Bill no. 3637 on virtual assets, which for the first time legally recognizes cryptocurrencies in the country. Although digital assets were never considered illegal, they existed in the legal gray area because they were not recognized by any of the country’s legislatures.

A new Ukrainian bill defines digital assets as intangible assets expressed in the form of electronic data, a report in the Kyiv Post revealed. It also offers a detailed explanation of what digital wallets and private keys are, as these terms have never been used in any Ukrainian law.

If the new law is approved by President Zelensky, the Ministry of Digital Transformation will be entrusted with supervising its implementation. The ministry will also work to “direct industry growth” according to existing standards developed by the Financial Action Task Force on Money Laundering (FATF).

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