This Sunday, Bitcoin hit a new all-time high, surpassing 28K for the first time. The UN is implementing blockchain technology to distribute economic resources to refugees around the world. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍The price of Bitcoin (BTC) marked a new all-time high this Sunday, when the cryptocurrency surpassed 28K and reached a value of $28.335,7 USD for the first time in its history. Although the surge was sustained briefly, at the time of writing, Bitcoin is trading above $26.500 USD showing a 12% growth over the past week.
Source: CoinGecko
The price of Ethereum (ETH) also reached a new high this 2020, with a value of $690 USD and briefly surpassing $710 USD per unit on December 27. ETH had not touched the value of $700 USD since May 2018.
📍The Organization of the United Nations announces the implementation of the technology blockchain at their World Food Programme, to efficiently help 400.000 refugees around the world. In its web portalThe UN Food Programme says blockchain will help refugees receive financial aid from the organisation to buy food in conflict zones or areas affected by natural disasters.
The UN's common method of transferring money to refugees is through debit cards, but it is now adopting blockchain as this technology is a way to transfer resources in a more efficient, secure and transparent way. It is also a way to protect the data and identity of refugees benefiting from the program.
📍After the United States Securities and Exchange Commission (SEC) made public his demand against Ripple and its executives, Bitstamp, One exchange cryptocurrency, announced the closure of operations with XRP (Ripple) for US users. The suspension of services will be effective as of January 8, 2021 and will remain in effect until further notice. release explains that it will apply only to US users, so the rest of the users who operate with this cryptocurrency will not be affected by the measure.
📍BitGo's digital assets under custody exceed $16.000 billion for the first time in its history. This was reported by Mike Belshe, CEO of BitGo, in a release where he also explained that the growth of its assets under custody is due to the great institutional demand for Bitcoin and the cryptocurrencies, this year.
📍The Turkish government has just announced its participation in the global race for central bank digital currencies, CBDC. According to releaseTurkey has already successfully completed the proof of concept for a CBDC for the lira (its legal fiat currency) and plans to begin pilot testing in mid-2021. This year, due to the crisis, the Turkish lira experienced a 20% depreciation against the dollar, so the government hopes that a CBDC will help in its work program to ensure price stability and support the nation's employment policies.
📍In Israel, the Israel Tax Authority (ITA), requires its citizens to disclose all of their holdings in Bitcoin and other cryptocurrencies. The new measure, according to a report Globes' decision responds to the implementation of the EU Common Reporting Standards regulations and the Foreign Account Tax Compliance Act, which forced cryptocurrency exchanges and brokers to give the state access to the data and information of Israelis who maintain active accounts on their platforms.
The measure seeks to ensure that Israeli citizens with domestic and foreign cryptocurrency accounts comply with the tax payments required by law.
Continue reading: The biggest achievements of the crypto industry in 2020
