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21.09.[News of the day] • Binance closes futures and options trading for Australian users • and other articles

4 min read

Welcome to today’s overview of crypto news:

MARKETS

Few could have predicted what had happened in the cryptocurrency market in the last 24 hours if they had examined the situation over the weekend — just two days ago. BTC was well above $ 48,000, an 11-day high. However, as fears of the Evergrande saga escalated on Monday, the cryptocurrency lost several thousand dollars in a few hours and fell to a minimum of $ 42,500.

Initially, it managed to repel and even regain $ 44,000, but it didn’t take long. The bears took control again, this time dropping the asset to $ 40,200. Since then, BTC has recovered and is currently above $ 43,000.

The Altcoins followed their leader south with even sharper price declines. ETH was one of the leaders in this unfavorable trend, falling from $ 3,400 to $ 2,800, its lowest level since August 6. To date, ETH has recovered nearly $ 300 in value and is above $ 3,000.

Cryptocurrencies

The miners have accumulated $ 600 million in BTC since February

According to on-chain analytics service provider Glassnode, Bicoin miners are piling up as the hashing speed of the network continues to recover.

In its Week of Chain report of September 20, Glassnode said BTC miners ‘balances were increasing, with miners’ wallets accumulating 14,000 BTCs worth about $ 600 million over the past six and a half months.

The report also noted that in the bull markets in 2020 and 2021, miners retain more of their remuneration than in previous market cycles. Miners usually sell BTC to cover their expenses, including electricity and hardware bills.

Lamassu has introduced its new compact model of BTC ATM

Lamassu, the creator of a number of BTC ATMs, including open-source administration software, announced its latest model of the BTC cryptomat, Tejo, over the weekend. It is designed in a compact design that will fit almost anywhere. In addition, the Tejo also has spacious interior spaces and can accommodate additional cash registers that can triple its banknote capacity on both its validator and the dispensing device.

Cash withdrawal agencies such as Garda, Loomis and Brinks often require specific auditable locks as a condition of providing their services. The Tejo device therefore has the option of upgrading to the state-of-the-art Dormakaba Cencon electronic lock for the needs of the cash collection operator.

Banks, crypto exchanges, companies

Brazil’s best investment bank BTG Pactual launches cryptocurrency trading application

Leading Brazilian investment bank BTG Pactual has launched a new platform that allows customers to invest directly in cryptocurrencies.

The Mynt platform currently allows users to purchase BTC and ETH, with BTG Pactual expressing its intention to launch support for other cryptoactive assets in the future. Andre Porthilo, Head of Digital Assets at BTG Pactual, said that there are currently two main digital assets available at BTG Pactual, but that the bank will gradually add them.

Roberto Sallouti, CEO of BTG Pactual, described the creation of Mynt as a response to “the demand of our customers who want to trade in cryptocurrencies”.

Binance closes futures and options trading for Australian users

Binance has announced that it will no longer offer futures and options trading in Australia. In addition, the company will also remove support for leverage tokens, a derivative product that allows users to gain leverage to cryptocurrencies without the risk of liquidation.

From September 24, its Australian customers will have 90 days to leave their positions. Binance also recently ended trading in the Singapore dollar and the Norwegian krone.

At the end of July, Binance Futures reduced the maximum from 101x to 20x in response to the onslaught of regulators around the world. The Exchange also introduced mandatory KYC inspections for all users in order to strengthen compliance.

According to a recent Bloomberg report, Binance is currently facing an insider dealing investigation in the United States.

CBDC, Regulation

Coinbase cancels the lending product due to the SEC threat

Brian Armstrong-CEO of Coinbase has abandoned its plans to launch a cryptocurrency lending product, which the Securities and Exchange Commission (SEC) said is a violation of its securities law.

In an updated post on its blog, Coinbase announced that it would no longer run the USDC APY program and ended the queue for the program. The article says:

“As we continue our efforts to clarify regulations for the entire cryptographic industry, we have made the difficult decision not to launch the USDC APY program.”

The Reserve Bank of Australia is announcing a tender for the position of CBDC

In connection with the ongoing Senate investigation into cryptocurrency regulation, the Reserve Bank of Australia has published a job advertisement within its digital currency research team.

The successful candidate would join a new interdisciplinary team to examine “whether there is a case for CBDC in Australia and, if so, how it could be designed and what the benefits and other consequences would be”.

This step is another sign that the RBA is apparently starting to be supportive of the idea of ​​setting up a CBDC; In a recent submission to the Senate Committee on Australia as a Technology and Financial Center, the Bank admitted that it was conducting CBDC research, but does not yet believe there are reasons to set it up. In the same submission, the bank stated that although Australia’s stablecoin had not yet been issued, it was already examining the best regulatory approach that could be taken if it were ever issued.

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