BitDigest - Friday July 9, 2021
Crypto pricing holds in current trading range
Bank of Thailand issues new warning on using crypto as medium of exchange
Senator Warren asks the SEC to regulate digital currency exchanges
The Headlines
Bank of Thailand Warns Against Using Crypto for Payments
The Bank of Thailand issued a warning against using digital currencies for payments reiterating its prior declaration that digital assets are not legal tender.
Sen. Warren Asks SEC to Regulate Digital Currency Exchanges
Senator Elizabeth Warren (D-MA) has asked the Securities and Exchange Commission to “regulate cryptocurrency exchanges and to determine if Congress needs to act to ensure that the SEC has the proper authority to close existing gaps in regulation that leave investors and consumers vulnerable to dangers in this highly opaque and volatile market.”
Advertising Watchdog on "Red Alert" Against Crypto Postings
The UK’s advertising watchdog, the Advertising Standards Authority is planning a proactive “red alert” priority effort to takedown misleading crypto advertisements.
Square to Build a Hardware Wallet
Square (NYSE: SQ) has announced plans to develop a native digital currency hardware wallet “to make bitcoin custody more mainstream.”
Riot Posts June Production Fugures
Riot Blockchain (NASDAQ: RIOT) produced 243 bitcoin in June, an increase of over 400% over the previous month bring its first half production total to 1,167 BTC a 130% increase over the first six-months of 2020.
BoA Starting Crypto Research Team
Stating that “cryptocurrencies and digital assets constitute one of the fastest growing emerging technology ecosystems,” Bank of America (NYSE: BAC) announced plans to create a new research team dedicated to digital currencies.
SEC Delays Skybridge Bitcoin ETF
The Securities Exchange Commission has kicked the can on another bitcoin ETF suggesting “that it is appropriate to designate a longer period within which to take action” on approving the SkyBridge Bitcoin ETF Trust.
Santander, Latest UK Bank to Block Binance Transfers
The UK’s Santander Bank has responded to the Financial Conduct Authority’s warning on Binance to announced it will prevent customers from making payment to the digital currency exchange.
CoinFlip Adding AAVE Token to ATM Network
CoinFlip, the leading bitcoin ATM provider in the US, is adding DeFi lending protocol Aave (AAVE) to its network of 2,500 terminals.
Mergers & Acquisitions
USDC issuer Circle will merge with Concord Acquisition Corp through a special acquisition blank-check merger valuing the fintech company at $4.5 billion.
Market Data
Digital Yuan has 10 Million Users
The People’s Bank of China reported that to date 10 million people have been included to participate in its digital yuan trials.
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BitDigest is a weekday news update on digital currencies and blockchain technology for friends and partners of Parsons & Whittemore, a single family office based in Rye Brook, New York. Receipt of BitDigest is by approval of the Author. The commentary, analysis, opinions and recommendations in this newsletter represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in this newsletter is obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. Neither the Author nor any of the Author's affiliates make any guarantee or other promise as to any results that may be obtained from reading this newsletter. While past performance may be analyzed in this newsletter, past performance should not be considered indicative of future performance. No reader should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. The Author is not making a solicitation or offer to buy or sell any securities of any kind.