Erik Weijers, 20 days ago
If you would have watched your portfolio app yesterday afternoon (admit it! we all do...) you would have seen a price dip. The reason? The American Department of Justice (DoJ) announced a press conference in which they would discuss an 'International Crypto Enforcement Action'. Scary...
During the press conference, the crypto industry breathed a sigh of relief - and laughter - when it turned out that the enforcement action was against a little-known Russian exchange Bitzlato. Jokes flew around on crypto Twitter, and the markets recovered from their dip. But not enough to make up for the losses. It probably was time for a correction anyway, after the 25% plus gains over the past two weeks.
Coindesk analyst Nathanial Whittemore was one of the few journalists to watch the entire press conference and had an interesting take and he notices something interesting, namely that the speakers didn't see crypto as the problem, only crime within crypto:
'Genuinely impressed with how much every speaker is making clear that the issue is criminals and crimes. They're not trying to make it seem like crypto's the problem - they're saying we're going to get crime OUT of crypto.'
So, it looks like the American enforcement agencies are finally starting to do their jobs, which is enforce the law within an industry instead of targeting an entire industry.
Other onlookers were a bit more cynical: 'Maybe because Bitzlato is Russian and Russia = bad is the current thing.'
Feb 02, 2023
China has taken a small step towards cryptocurrency regulation with the implementation of a 20% tax on crypto transactions. This signals that the country is slowly reevaluating its hostile stance towards crypto.
Feb 02, 2023
Charles Munger is the wingman of Warren Buffett and both are well known for being against Bitcoin and crypto. Both have stated their opinions on this topic several times in the last few years and every time the crypto community was quick to react to their statements. Of course, it is a good idea to defend crypto against its foes, but it is even better to hold on for a minute and listen to what the critics are saying and take their arguments into account.
Jan 26, 2023
El Salvador set an example when making Bitcoin a legal tender in 2021. With only the US-Dollar and no national currency available, it seems to be a good idea to emancipate and start looking for alternatives. Other countries are not in the same situation and already have a national currency that is trusted, at least in most cases. Interestingly enough, a representative of Arizona is not happy with the world's reserve currency and is trying to make Bitcoin legal tender.
Jan 20, 2023
Ripple’s CEO Brad Garlinghouse made a couple of remarks while he visited Davos and shed some light on the ongoing lawsuit between the SEC and Ripple. The ongoing feud had a devastating impact on both Ripple and XRP. Needless to say, investors and the XRP community are eager for a resolution of the case.