Bitcoin Daily: Ukraine approves crypto regulations

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Ukraine is the latest country to enact new official cryptocurrency decisions as it moves towards digital currency legitimization, CNBC reported.

Ukraine’s parliament unanimously passed a law legalizing cryptography, which will now be sent to President Volodymyr Zelenskyy’s office, according to the report. The law came into being in 2020.

Crypto laws in Ukraine were previously somewhat gray with locals allowed to use it, but businesses dealing with crypto were closely watched by regulators, according to the report.

In other news, Bank of Mexico Governor Alejandro Diaz de Leon drew a line in the sand between bitcoin being an evolved fiat currency, claiming that it is more of a means of barter, Reuters reported.

He said digital currency is a high-risk investment and a low store of value, according to the report.

Anyone who receives bitcoin in exchange for a good or service, we believe [transaction] is more akin to bartering, as that person is exchanging a good for a good, but not really money for a good, Diaz de Leon said, according to Reuters.

Meanwhile, Sweden’s central bank governor Stefan Ingves has said buying and selling bitcoin is akin to stamp trading, potentially without sustaining power, Bloomberg reported.

He said private money usually crumbles in the end, according to the report.

As crypto becomes more mainstream, a subset of financial executives compare it to the 17th-century tulip bubble, which ended in collapse.

Finally, Brian Quintenz, former commissioner of the Commodity Futures Trading Commission, has joined Andreessen Horowitz as an advisor to his crypto team, according to a press release.

The news comes as crypto becomes more mainstream, and the release says Quintenz was known in the past for speaking out about the value of crypto.

Along with Andreessen Horowitz, Quintenz’s role will be to translate crypto for the policy community and translate policy for the crypto community, according to the statement.

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE PURCHASING JOURNEY – SEPTEMBER 2021

By the way: 80% of consumers want to use non-traditional payment options like self-service, but only 35% were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a collaboration between PYMNTS and Toshiba, analyzes over 2,500 responses to find out how merchants can address uptime and perception issues to meet the demand for open kiosks -service.

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