Crypto 2021: the good, the bad and the ugly | Manning River Hours

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HIGH AND LOW CRYPTO IN 2021: * World’s richest man Elon Musk triggers crazy swings in Bitcoin, Ethereum and Doge (which he owns) and Shiba Inu (which he doesn’t) with impromptu tweets … again. * Australian Federal Survey questions the FinTech industry and makes 12 bipartisan recommendations for cryptocurrency regulation. * The tax office tracks more than 800,000 Australians transacting in cryptocurrency, as participation grows year on year. * U.S. Federal Reserve agencies commit to launching a crypto-asset ‘policy sprint’ in 2022, but make no immediate changes to rules and regulations. * The United States indicates that greater clarity is coming for the safekeeping and custody of cryptoassets, the buying and selling of cryptoassets, loans secured by cryptoassets, the issuance and distribution of stable coins and the treatment of crypto-assets in balance sheets. * The Central Bank of China bans crypto mining and all cryptocurrency transactions. * China is developing blockchain technology for its own state-controlled digital yuan and payment system. * Bank of Russia warns of big risks for investors, citing high volatility and use in illegal activities, and advises financial institutions not to facilitate cryptocurrency transactions. * The Russian parliament wants new laws for crypto miners who earn $ 2 billion (AU $ 2.8 billion) per year tax-free. * Visa announces a global crypto advisory practice for retailers looking to expand payment options, banks looking to attract or retain customers with a crypto offering, and central banks considering central bank digital currency ( CBDC). * Commonwealth Bank becomes the first Australian bank to offer its clients limited ability to buy, sell and hold crypto assets, with plans for wider deployment in 2022. * Blockchain Global, the developer of the former crypto exchange ACX, collapses due to more than $ 20 million after failing to comply with a Victoria Supreme Court order to disclose assets. * MyCryptoWallet collapses with SV Partners appointed liquidators. * The Reserve Bank of Australia completes Project Atom, a trial of wholesale CBDC between banks. * Solarcoin and Cardano are leading a range of greener cryptocurrencies amid more global attention to the carbon footprint. * Treasurer Josh Frydenberg announces that cryptocurrency exchange licensing and custody laws will be developed in 2022 and is considering a retail CBDC. Associated Australian Press

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Dec. 27 2021 – 6:00 a.m.

HIGH AND LOW CRYPTO IN 2021:

* The richest man in the world, Elon Musk, sets off wild swings in Bitcoin, Ethereum and Doge (which he owns) and Shiba Inu (which he does not have) with impromptu tweets … one more time.

* Australian Federal Survey questions the FinTech industry and makes 12 bipartisan recommendations for cryptocurrency regulation.

* The tax office tracks more than 800,000 Australians transacting in cryptocurrency, as participation grows year on year.

* U.S. Federal Reserve agencies commit to launching a crypto-asset ‘policy sprint’ in 2022, but make no immediate changes to rules and regulations.

* The United States indicates that greater clarity is coming for the safekeeping and custody of cryptoassets, the buying and selling of cryptoassets, loans secured by cryptoassets, the issuance and distribution of stable coins and the treatment of crypto-assets in balance sheets.

* The Central Bank of China bans crypto mining and all cryptocurrency transactions.

* China is developing blockchain technology for its own state-controlled digital yuan and payment system.

* Bank of Russia warns of big risks for investors, citing high volatility and use in illegal activities, and advises financial institutions not to facilitate cryptocurrency transactions.

* The Russian parliament wants new laws for crypto miners who earn $ 2 billion (AU $ 2.8 billion) per year tax-free.

* Visa announces a global crypto advisory practice for retailers looking to expand payment options, banks looking to attract or retain customers with a crypto offering, and central banks considering central bank digital currency ( CBDC).

* Commonwealth Bank becomes the first Australian bank to offer its clients limited ability to buy, sell and hold crypto assets, with plans for wider deployment in 2022.

* Blockchain Global, the developer of the former ACX crypto exchange, is collapsing over $ 20 million after failing to comply with a Victoria Supreme Court order to disclose assets.

* MyCryptoWallet collapses with SV Partners appointed liquidators.

* The Reserve Bank of Australia completes Project Atom, a trial of wholesale CBDC between banks.

* Solarcoin and Cardano are leading a range of greener cryptocurrencies amid more global attention to the carbon footprint.

* Treasurer Josh Frydenberg announces that cryptocurrency exchange licensing and custody laws will be developed in 2022 and is considering a retail CBDC.

Associated Australian Press

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