If you take a look at the streets, you will see it blooming these days. The temperatures are rising, it is spring. This doesn’t just apply to nature – the crypto sector is growing and thriving too. In China, given the tough hand of the authorities, things looked very different until the end. But sudden opening signals from Beijing make one sit up and take notice. Is the Middle Kingdom still developing into a late bloomer?
Rethinking in Beijing: is the Chinese People’s Bank easing its restrictive course?
It would be the famous 180 degree turn. The Chinese Volksbank (PBoC) is actually at war with Bitcoin & Co. Private money outside of government control is not welcome in the Middle Kingdom and has been fought hard for years. The big surprise came last week. A governor of the agency was benevolent about the investment potential of cryptocurrencies. Now the crypto space is speculating whether Beijing will actually dare to relax in the future.
Premiere: soccer star with his own NFT jersey
Koo Ja-cheol and Olympia 2012.
Koo Ja-cheol (Al-Gharafa SC), ex-Bundesliga team and captain of the Korean national team at the 2012 Olympics (London), is the first athlete worldwide to publish the autograph card 2.0 as a souvenir: an NFT based on the physical jersey.
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Why the government cannot keep Bitcoin small forever, what a step-by-step opening could look like and what impact this might have on the crypto market – these are the questions that BTC-ECHO editor-in-chief Sven Wagenknecht has taken a closer look at.
US House of Representatives takes stock exchange supervision to duty
While the legal situation in the USA is far friendlier, the skepticism of the US government is in places no less important than that of its competitor from the Middle Kingdom. And in the USA, too, there is hope that the authorities will rethink their approach, that they will act benevolently, and that regulatory transparency will be achieved. This applies in particular to the SEC, where applications for Bitcoin ETFs pile up. Now the US Congress has made the stock exchange regulator responsible. A new law requires the SEC as well as the sister authority CFTC to set up a joint working group. Their task should be to lift the fog around unclear guidelines and responsibilities.
ECB President Lagarde: The decision on the digital euro will be made this year
The European Central Bank emphasizes that pioneering decisions like to be reconsidered several times. While more and more central banks around the world are looking at the potential of their own digital currencies, the decision on the digital euro is being postponed in southern Hesse for a while. But the wait should soon be over. ECB President Christine Lagarde said in an interview with Bloombergthat the decision for or against the e-euro should be made “in the middle of 2021”. However, you can be sure today that the development will take four years. This means that the European CBDC would not be presented to the public until 2025 at the earliest.
Tools & tips for your Bitcoin tax return
We explain to you what you should look out for in your crypto tax return and introduce you to useful tools for optimization.
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Swedish Riksbank plans to introduce e-krona by 2026
Meanwhile, recent headlines from Sweden are likely to put more pressure on the ECB. Stefan Ingves, governor of the Swedish Riksbank, had opposite Bloomberg last made a prognosis for the introduction of the planned e-crown. If the central bank has its way, it should see the light of day in five years. The tests should then be completed in 2026.
Deutsche Bundesbank – “DLT is an important building block for the digital transformation of an economy”
And the German Bundesbank is also turning more and more to blockchain technologies. The latest monthly report from the central bank is evidence of this. Here, the monetary authorities emphasize the role of distributed ledger technologies for the creation and operation of digital money. In addition, the Bundesbank gives the technologies a remarkable certificate: According to the Frankfurters, the use of DLT is nothing less than “an important component for the digital transformation of an economy”.
BaFin investigates Onecoin-Pfalz.de – old scam in new tubes?
Despite all the blockchain euphoria, the German authorities are continuing to take decisive action against crime in the crypto space. The latest BaFin investigations made headlines. This announced last week to investigate a Palatinate branch of the alleged crypto scam OneCoin. With a loot of up to four billion US dollars, the system, which was founded in 2014, is one of the largest suspected cases. What role the Palatinate branch played in this is still open.
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