Bitcoin and cryptocurrencies hit new all-time highs while Malta's financial regulator gave the green light to Europe's first cryptocurrency index fund on a regulated market. These and more news in this handy daily roundup so you're always up to date with the latest events happening within the crypto world.
Cryptocurrencies and altcoins
📍Bitcoin and the cryptocurrency market reach new all-time highs. The price of Bitcoin (BTC) marked a new ATH this Wednesday, surpassing the $67.270 per unit, while the total value of all the cryptocurrencies, combined exceeded the 2,75 trillions of dollarsBitcoin, with a market cap of $1,26 trillion, dominates almost 45% of the entire industry.
Ethereum, the second largest cryptocurrency in the world, also hit a new all-time high in its market capitalization, which exceeds 498.470 million currently. The value of ETH has yet to surpass its May ATH, when it reached a value of $4.357 per ether.
📍MtGox is back in the news by announcing the confirmation of its refund plan. The creditors of MtGox, which once became the largest cryptocurrency exchange in the industry, could start to get back some of the bitcoins that were stolen from the exchange as early as next month. In a release Recently, Nobuaki Kobayashi, trustee of MtGox, reported the approval of the Tokyo District Court (Japan) on the reimbursement proposal submitted in February of this year, and which was voted on by creditors from March until last October 8.
Kobayashi said that 99% of MtGox creditors voted in favor of the repayment proposal, so it is likely to be “final and binding” in 30 days from yesterday. It is worth remembering that in 2014, MtGox was hacked, losing 850.000 bitcoins, which at the time of writing are worth more than $55.200 billion. However, the reimbursement plan voted only contemplates the replacement of 150.000 bitcoins hacked 7 years ago. Nearly 24.000 people were affected by the hack of the exchange.
Bitcoin and Blockchain Adoption
📍Malta approves first cryptocurrency index fund in Europe's regulated market. Iconic Funds, the index fund issuer, has announced that the Malta Financial Services Authority (MFSA) has given its approval to list Europe's first cryptocurrency fund on a regulated market. The fund BITA20 XA Index Fund, which will be listed under the BITA20 symbol, will be available on the Malta Stock Exchange in the coming days.
Through BITA20, Iconic Funds will offer European investors direct exposure to various cryptocurrencies and digital assets.
📍Volaris will begin accepting payments with Bitcoin. Nayib Bukele, president of El Salvador, announced that Volaris will be the first airline in the country to accept Bitcoin as a means of payment. Bukele shared part of the public event organized by the Mexican airline on Twitter, highlighting the level of adoption of the cryptocurrency in the country. To date, Volaris has not announced when payments with Bitcoin will be enabled.
NFT and DeFi Markets
📍JD.com, one of China's largest e-commerce platforms, will launch free blockchain and NFTs. JD.com's tech subsidiary JD Technology will be handing out free NFT crypto collectibles to conference attendees JD.com Global Tech Explorers Conference 2021, which starts on November 22nd. The NFT They will be based on the blockchain created by JD.com itself, called JD Chain, as the company indicates in its web portal.
The NFT collection will consist of 7 limited edition crypto collectibles, inspired by each of the company’s areas: retail, technology, logistics, healthcare, finance and smart cities. Users who earn JD.com tokens will be able to claim them and then store or trade them through an NFT marketplace that will also be built on the JD Chain.
Miners
📍Russian oil producers call on the government to allow cryptocurrency mining with associated gas. Since last year, oil companies in Russia have been experimenting with bitcoin mining powered by associated gas; a residue of oil exploitation that is highly polluting for the environment. Now, with the rise of cryptocurrency miners in the country, motivated by the expulsion of China, oil producers in Russia are looking to invest in bitcoin. they ask regulators to evaluate the feasibility of mining cryptoassets through associated gas, as an alternative energy source.
Igor Dorofeev, head of the Association of Data Center Industry Participants of Russia, said that the idea of mining cryptocurrencies with associated gas from petroleum is quite logical. “There is an associated gas from which energy can be generated”, she said, adding that the initiative should be studied in depth to analyse its costs and implications. Likewise, Elena Avakyan, counselor at the EPAM legal office, argued that regulators should analyze Russian legislation and the possible taxation of miners, among other things. It should be remembered that cryptocurrency mining is not prohibited in Russia, but it is not a regulated activity that enjoys legitimacy in the country either.
Rules and Regulations
📍The UK's Financial Conduct Authority (FCA) warns young investors about the risks of cryptocurrencies. Según un release According to a recent report published by the regulator, young Britons may be investing in cryptocurrencies in a risky way, motivated by the information they see through social networks and influencer accounts. The FCA points out that about 76% of investors under 40 years old have invested in some cryptocurrency and other high-risk products, so it is launching a new awareness campaign about the possible risks. The campaign, worth 11 million euros, will be aimed at new investors, the authority reported.
Continue reading: DeFi grows and exceeds $220.000 billion in total deposited value
