RABIT Weekly news (W5 Mar 2022)

RABIT -
  • Bridgewater plans to invest in products linked to Bitcoin prices
  • Coinbase launches Cardano staking service
  • Russia allows Bitcoin payments for natural gas transactions
  • Prohibition of PoW Mining, which resulted in rejection, may be put to a re-vote at the plenary session of the EU Parliament in April
  • New York State House to vote on bill banning PoW mining. If approved by the Senate, a three-year ban
  • Morgan Stanley may slow defi growth due to regulations and over-security
    • Defi lockup value soars from approx. $600M in 2020 to approx. $200B in 2022
    • Risk of financial crime due to its anonymity and vulnerability to hacking
  • New York Fed states, “We have high hopes for the potential of the settlement sector amidst the innovations of stablecoins, but it should clearly be regulated
  • Fed Chairman Jerome Powell at BIS Innovation Summit: “We need laws and frameworks that can handle digital currency, and decisions about CBDC are pending.”
  • Former BoA executive David Wu says U.S. CBDC launch could be a crackdown on existing digital currencies, as in China, which would have a negative impact
  • China to punish cryptocurrency mining without mercy, in accordance with laws and regulations
    • Mining designated as a “culling industry”
  • Binance transforms from a tech company to a global financial institution, preparing to form a board of directors
    • Discussing attracting investments from sovereign wealth funds and large investors
    • Bitcoin-only exchanges in Europe on the rise
  • Complete refusal to support altcoin transactions that distort the nature and reason for Bitcoin’s existence
    • Goal is to become a savings app rather than a short-term profit on transaction fees
  • Terra plans to buy BTC worth about $10 billion in reserve funds for Stablecoin UST
    • Related wallet currently holds 24,955 BTC

RABIT: https://rabit.bot
Android: https://bit.ly/3g0zxzU
Apple: https://apple.co/3KOBVYG