Crypto Trends Weekly 4 – 10 Sept.

    13 Sep 2021

    Breaking crypto news from the last week (4 – 10 Sept. 2021):

    4 Sept.: Bloomberg’s senior commodity strategist Mike McGlone argues that Bitcoin is gradually becoming a global reserve asset that complements the US dollar. According to a Bloomberg report, digital assets like Bitcoin and Ethereum are on the way to new highs.

    5 Sept.: Charles Randell, chair of the FCA and Payments Systems Regulator, warned in a new piece written for the Cambridge International Symposium on Economic Crime that over-extending the reach of regulators could backfire in the case of some cryptocurrency tokens.

    6 Sept.: Senator Elizabeth Warren, one of the most vocal cryptocurrency skeptics in the US government, has called the cryptocurrency industry the “new shadow bank” and said that it’s “worth considering” banning US banks from holding the reserves to back private stablecoins.

    7 Sept.: While El Salvador became the first country to adopt Bitcoin as legal tender, Bitcoin, the world’s biggest cryptocurrency, fell more than 17% to $43,000 before paring some losses to trade down 9.2% at $47,140. Smaller rival Ethereum coin plunged 12 %. Shares of major cryptocurrency exchanges also fell as crypto stocks were hit by trading platform outages.

    8 Sept.: Ukrainian lawmakers voted for the bill legalizing and regulating cryptocurrency and other virtual assets in the country. Before, cryptocurrencies have been neither legal nor forbidden in Ukraine because there were no laws that defined their status.

    9 Sept.: Solana almost doubles in a week, despite the recent crypto market correction. SOL token of smart contract platform Solana continued its unflagging surge higher in the market, as it topped XRP as the 6th most valuable cryptoasset.

    10 Sept.: The Swiss financial regulator announced its approval for Swiss exchange SIX to launch a digital asset marketplace and central securities depository built on distributed ledger technology.

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