BCA Research’s chief global strategist, Peter Berezin, predicted that Bitcoin’s Achilles heel will begin to scare off corporate investors off and cause governments to erect more obstacles to it success. The first to flee will be environmental, social, and governance-focused funds he said, adding that they will shun companies involved with Bitcoin, not just the cryptocurrency itself.
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Fed’s Powell: 2021 ‘an important year’ for digital dollar
Federal Reserve Chairman Jerome Powell said 2021 will be a key year for the U.S. as it decides whether to create a digital currency, and what it would look like
Speaking before the House Financial Services Committee on Feb. 24, Powell said 2021 “is going to be the year that we engage with the public pretty actively” on the digital dollar project. He added that there are still significant technical challenges to be met, as well as major policy decisions to be made, before the U.S. decides to create a digital dollar.
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‘Crypto is a threat’: Central Bank of Nigeria closes exchanges’ bank accounts
An official of the Central Bank suggested that cryptocurrencies are best suited for illegal uses, and said he was alarmed by their use as a speculative asset
“The question that one may need to ask therefore is, why any entity would disguise its transactions if they were legal," asked Central Bank of Nigeria acting director of corporate communications Osita Nwanisobi. "It is on the basis of this opacity that cryptocurrencies have become well-suited for conducting many illegal activities including money laundering, terrorism financing, purchase of small arms and light weapons, and tax evasion.”
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Will Treasury Secretary Janet Yellen follow through on predecsessor Steven Mnuchin's cold wallet monitoring plan? (Photo: Wikimedia Commons)Good and bad: Treasury delays cold wallet monitoring rule
The delay gives crypto more time to fight it, but shows that regulators plan to press ahead in the new administration
Proposed on Dec. 18, the regulation would require exchanges to collect personal know-your-customer data from private or “unhosted” cold wallets on the sending or receiving end of transactions of more than $3,000. The Financial Crimes Enforcement Network (FinCEN) originally gave the proposal a very unusual 15-day comment period, which included the Christmas and New Year’s holidays.
