Friday June 24, 2022
◾ Spain has proposed new rules requiring taxpayers to disclose all of their cryptocurrency holdings (reported in Euros) with corresponding details of all transactions including the senders and receivers’ addresses. (News.bitcoin)
◾ Researchers at Russian state-owned bank VEB have recommended that Russia issue a gold-backed stablecoin to facilitate international trade in the wartime-sanctioned country. (Coindesk)
◾ Solana (SOL) has launched Saga, a web3 focused Android-platformed mobile phone. (Solana)
Government & NGO Actions
◾ The Central Bank of Russia intends to test smart contracts and the digital ruble for real estate transactions. (News.bitcoin)
◾ State-sponsored Chinese media have reported that digital currencies are facilitating illegal drug trafficking. (Finbold)
Public Company Releases
◾ Voyager Digital (VOYG) lowered its daily customer withdrawal limit from $25,000 to $10,000. (Reuters)
◾ BIT Mining (BTCM) is selling 16,000,000 American Depositary Shares. (BTCM)
◾ Canaan (CAN) repurchased over 4.7 million outstanding warrants for $6.6 million. (Cision)
Protocols, Applications & Business News
◾ Crypto exchange CoinFlex has temporarily paused withdrawals due to extreme market conditions and continued counter-party uncertainty. (Coinflex)
◾ More exchanges including FTX, Deribit and BitMex liquidated Three Arrows Capital's positions after the investment manager failed to meet margin calls. (Theblock)
◾ Bybit settled with the Ontario Securities Commission a day after the regulator accused the digital exchange of failing to comply with Ontario securities laws. (Newsfile)
◾ Digital asset trading platform Uphold has stopped offering services in Venezuela due to the complexity of complying with US sanctions. (Uphold)
◾ Colorado-based miner Aspen Creek Digital started-up its first solar power bitcoin miner at a 10MW solar farm. (Cision)
◾ Flared gas miner Crusoe Energy has acquired Denver-based manufacturer of modular data centers and specialized electrical systems Easter-Owens Electric Co. (Businesswire)
◾ The University of Cincinnati is establishing two new programs studying cryptocurrency and new financial technologies. (UC.edu)
◾ Binance partnered with soccer legend Christian Ronaldo to promote NFTs. (Reuters)
Metaverse Briefings & Activations
◾ The National Hockey League (NHL) and its player’s association announced an agreement to create a NFT and digital collectables marketplace. (Espn)
Market Data
◾ With bitcoin prices trading in a low $20,000 range, crypto miners are continuing to sell bitcoin and have sold a staggering 18,251 ($375 million) bitcoin over the past 10 days. (Twitter)
Exchange, Custody and Product Updates
◾ Coinbase (COIN) users in the Netherlands will be required to provide information about transactions (purpose of transfer) and the recipient (full name and address) for all digital currencies sent to an address off the Coinbase platform. (Coinbase)
◾ Coinbase (COIN) is launching its first listed crypto derivatives: Nano Bitcoin futures contracts with each contract sized at 1/100th of a bitcoin. (Coinbase)
Thoughts on the Ecosystem
◾ Cardano (ADA) founder Charles Hoskinson recommended that the crypto industry create a self-regulating organization (SRO) that could automatically monitor compliance until an anomaly is encountered, at which point a financial authority would review it. (Cointelegraph)