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15.10.[News of the day] • Coinbase issues a regulatory proposal requiring “certainty for all” • and other articles

5 min read


Welcome to today’s overview of crypto news:


Two days ago, BTC had lost a lot and was close to breaking the $ 54,000 mark. This happened after an unsuccessful attempt to beat $ 58,000 for the first time in about five months. However, the bulls have not given up yet and started another impressive rise yesterday. This time, the BTC regained the above-mentioned level and continued to climb.

BTC reached $ 58,500 before another short retracement drove him back below $ 57,000. As a result of the news that the US Securities and Exchange Commission could give a green ETF to BTC futures next week, the value touched USD 60,000 for the first time since April this year.

ETH has been struggling in the last few weeks because it has definitely failed to break above $ 3,600. It even retreated by several hundred dollars, but went on the offensive yesterday and continued north today. As a result, for the first time in months, ETH broke the $ 3,800 mark, but it didn’t last long and is now back below it.

BTC analysis – the price has reached $ 60,000 for a while and the growth is still not over


BTC reaches a six-month high as rumors of BTC ETF approval support growth

Early on Friday morning, the price of BTC rose sharply, helped by news that the stock exchange traded fund (ETF) was about to launch. The increase came after a news on October 15 that the US Securities and Exchange Commission (SEC) is ready to approve the launch of the BTC ETF, Bloomberg sources said.

This was also indicated by the SEC’s official Twitter account for investor education, which reported on Twitter the dangers of trading futures on BTC, which indicated that the announcement was approaching.

Banks, crypto exchanges, companies

ANZ settled a debanking case with an Australian trader with BTC

Bitcoiner Allan Flynn settled his first complaint with the Australian and New Zealand banking group (ANZ) for being unilaterally debated in 2018 over his job as a digital currency changer (DCE). The settlement comes 20 months after Canberry residents first lodged a complaint with ANZ in the ACT Civil and Administrative Court.

In the settlement, ANZ stated that it had canceled its accounts due to the risk of money laundering and terrorist financing (ML / TF), which it perceives among money changers. It also acknowledged that Flynn’s act of abolishing banking could “constitute unlawful discrimination in breach of § 7 para. 1 letter p) and Section 20 of the Discrimination Act 1991 ”.

However, ANZ declined any liability, stating that if it “discriminated against Mr Flynn by canceling his accounts, this discrimination was proportionate in the circumstances and therefore lawful”.

UWM, the second largest US mortgage lender, is getting rid of BTC payment plans

United Wholesale Mortgage (UWM), one of the largest wholesale and purchase credit providers in the United States, is giving up BTC payment plans after the test.

UWM officially announced on Thursday that the company had successfully completed its first ever cryptocurrency mortgage pilot project and received five crypto payments in October and one in September. However, although the mortgage company successfully passed the test, it decided to abandon BTC payments with reference to related issues such as regulation:

“Given the current combination of additional costs and regulatory uncertainty in the area of ​​cryptocurrency payments, we have come to the conclusion that we will not be expanding our activities beyond the pilot project at this time.”

CBDC, Regulation

Coinbase issues regulatory proposal calling for “certainty for all”

As part of its Digital Assets Policy Proposal (dApp), Coinbase has proposed a set of regulatory guidelines. In it, the exchange called for “regulatory certainty for everyone” when called it “the most dynamic and broadest period of American financial innovation.”

Against the background of the greater spread of cryptocurrencies and regulatory uncertainty, the exchange outlined a “four-pillar” approach to cryptosector control.

First, it called for the regulation of digital assets within a separate framework. Second, it proposed the appointment of a single regulator for the digital asset markets. Third, Coinbase proposes to protect and strengthen the position of the holders of these assets. Finally, it called on regulators to promote interoperability and fair competition in the sector.

Japan will prioritize simplicity when designing the CBDC, says the central bank’s executive director

While the Japanese CBDC’s plans are still in the research phase, Shinichi Uchida, the executive director of the Bank of Japan (BOJ), said that simplicity would be the central bank’s main thesis in designing the digital yen.

According to Reuters, Uchida said this during Friday’s speech, in which he called for the introduction of modalities that will ensure the coexistence of the CBDC with existing private payment channels. According to Uchida, the vertical integration of the digital yen into the private sector payment matrix will require a simple CBDC design.

The Mexican president avoids calls for the inclusion of BTC as legal tender

El Salvador’s decision to accept BTC as legal tender has sparked a wave of political excitement throughout Latin America. However, according to the Mexican president, the country will reject any ideas related to the integration of BTC into its financial system.

Mexican President Andrés Manuel López Obrador recently spoke at a press conference to present his government’s view of the cryptocurrency. According to Obrador, his government will maintain the traditional approach to financial management and will not innovate much in this area.

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