1) China launches the first Digital Yuan ATMs.
China takes its Digital Yuan to the next level by introducing the first Digital Yuan ATMs. Now, Chinese citizens can convert cash and savings to and from digital yuan. Agricultural Bank of China’s ATM allows the deposit and withdrawal of digital yuan through a smartphone app. Users can also convert cash and savings to and from the Digital Yuan.
2) FCA alerts about Bitcoin as Crypto Market Crashes.
The Financial Conduct Authority, a financial regulatory body in the United Kingdom, feels that crypto-assets are subject to a high-risk level. FCA also believes
Consumers should be aware of the risks and fully consider whether investing in high-return investments based on crypto assets is appropriate for them. They should check and carefully consider the crypto asset business involved.
3) New York City bar owner wants to sell his bar for Cryptocurrency.
Patrick Hughes, the bar owner of Hellcat Annie’s and Scruffy Duffy’s and also a crypto enthusiast, wants to sell both the bars for 800 ETH or 25 BTC. Hughes said
I’m hoping to catch one of these crypto dudes who always wanted to own a bar.
His move has also been criticized as a crypto Twitter user – dladowitz tweeted
Seems like he’s lowering the number of buyers for himself. No one is gonna commit to a price in BTC with a 30-day close period for escrow. Could double your price.
4) HSBC has blocked transactions From and to Crypto Exchanges.
After the Crypto market crash, HSBC has restricted its user from making transactions to or from crypto exchanges. Ran Neuner, CNBC host, and Onchain Capital founder believe that Banks like HSBC putting such restrictions will lose customers. Neuner tweeted
Many banks will put themselves out of business like this.
Jason Yanowitz from Block Works Group also expressed
Legacy financial institutions will do everything in their power to stop this movement. They’re literally denying their customers access to the greatest performing asset of the past decade.
5) Guggenheim Partners CIO’s views on Bitcoin.
Guggenheim Partners CIO – Scott Minerd, during the Bitcoin price drop, said it is “unsustainable in the near term.” He tweeted
Bitcoin’s parabolic rise is unsustainable in the near term. Vulnerable to a setback. The target technical upside of $35,000 has been exceeded. Time to take some money off the table.