News of News For Bears and Bulls – Trustnodes

News of News For Bears and Bulls

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Bitcoin art

Biden wins Georgia according to projections, solidifying his lead and thus his win of the presidency at 306 to 232 for Trump.

That should put an end to any uncertainty, with markets to expect a big spender in the whitehouse which may well revive the economy.

For bitcoin, that means more store of value as even the dollar looses purchasing power with houses now out of rich for ordinary Americans.

Yet bitcoin continues to face challenges in China where a ban may be formalized by a new draft Banking Law included in the legislative plan of the 13th National People’s Standing Committee.

That aims to put any central bank digital currency in a similar footing to current central bank digital currencies, while banning “any digital tokens that are made, issued or sold to replace RMB,” in which case “the PBOC shall order the issuer to stop such illegal acts, destroy the tokens or digital currency produced, issued or sold, confiscate the illegal gains and impose fines up to five times the illegal amount.”

Who they’ll order to destroy bitcoin is not too clear, but it was always anticipated that somewhere they’ll do a shabby job at copying the tech and claim it’s bitcoin, while banning the real thing.

Good luck with it while “IntellectEU introduces Catalyst, a bridge between blockchain and traditional financial platforms, with Oracle Blockchain Platform.”

Skype’s co-founder has bitcoin and eth, and he donated them to an artificial intelligence start-up.

The Bitcoin Cash fork is tomorrow and a bit of a mess should be expected with Bitfinex apparently taking the neutral line while Kraken has chosen to side with the client that kicks out BCH’s lead dev.

This is the second chain-split of the crypto in as many years, with it quite unclear whether it will be able to survive in any relevant manner.

Borussia Dortmund joins hands with crypto trading platform Bybit, so continuing bitcoin’s march into sport.

For Mericans, Dortmund is a pretty big German soccer team that has won top level games and championships, meaning bitcoin will be introduced or re-enforced to a fairly wide audience.

Ah, here’s a nice one. Ripple Labs has been buying tons of XRP in an attempt to pump the price, and then presumably dump their XRP, but it doesn’t look like it has had much of an effect.

Despite bitcoin crossing $16,000, XRP has still been stuck quite behind tether, with the crypto very much a was amid all the defi boom and the eth-bitcoin ping pong.

“The Switzerland-based bank Sygnum has announced this week that the fintech firm is now storing digital assets with the company Taurus Group. On Friday, the bank also revealed that the FINMA-approved firm’s clientele can purchase and stake XTZ by leveraging the Tezos network.”

That’s just one of a number of banks that have entered the crypto space, including a Belarusian bank which has began offering bitcoin trading, while a local branch of China’s biggest bank has offered corporate debt in return for bitcoin.

It’s still some way to go however until ordinary bank accounts can hold bitcoin too, but the crypto is advancing in that area as it continues being integrated with the legacy financial system.

“The Digital Assets and Registered Exchanges Bill, 2020 (DARE Bill) debated and passed in Parliament on Wednesday will provide the legal framework to regulate the issuance and sale of digital assets, or crypto assets, including digital tokens.”

That being in Bahamas, with crypto associations there hailing the move as it is perceived to be quite friendly.

So wrapping up this session’s tabletalk. Until next time, remember that hodl is not just a meme. It’s an idea.

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