Category Archives: Allgemein

EU Parliament Seeks to Contain Crypto Not Ban It: Bitcoin Suisse Chair

• The European Parliament’s Economic and Monetary Affairs Committee voted to impose strict restrictions on banks seeking to hold crypto.
• Luzius Meisser, Chair of Switzerland’s largest crypto broker Bitcoin Suisse, suggested that the EU may try to build a firewall around crypto rather than prohibiting its use altogether.
• This containment strategy could be beneficial to both the traditional finance market and the crypto industry in Europe.

EU Crypto Containment Strategy

The European Parliament recently voted to impose strict restrictions on banks wanting to hold cryptocurrency. Luzius Meisser, Chairman of Swiss crypto firm Bitcoin Suisse suggested that the EU may opt for a containment strategy rather than banning cryptocurrencies altogether.

Benefits of EU Containment Strategy

Meisser argued that the containment strategy proposed by the EU will have benefits for both cryptocurrency and the traditional finance market in Europe. He said that this approach will protect both industries from each other’s faults and mistakes.

Crypto Banking Rules Proposed by Basel Committee

The restrictions imposed by the EU reflect closely those set by Basel Committee on Banking Supervision (BCBS), which is an international standard setter for banking regulations. The BCBS has proposed rules that require firms to hold 1 euro in their own capital for every euro held in cryptocurrency assets they trade with customers or clients.

Potential Impact of Crypto Regulations Across Europe

It remains unclear how these new regulations would be enforced across all member states within the European Union, as each nation may interpret them differently depending on their own laws and regulations regarding financial services and digital assets.

Conclusion

Ultimately, it appears that while there is potential for stricter regulations on cryptocurrencies within Europe, it is unlikely that outright bans will be imposed any time soon. Instead, building a firewall between cryptos and traditional finance seems like a more viable option at this stage of development for digital assets within Europe.

Crypto Rebound: Bernstein Sees Mean Reversion Rally, But Caution Advised

• Bernstein reported that the recent gains in the crypto market are likely a “mean reversion” rally, suggesting that asset prices tend to revert to their long-term mean or average level.
• Bernstein advises caution about being bearish at current levels, noting that Bitcoin in its entire history has never had two consecutive years of negative returns.
• Opimas LLC CEO and Founder Octavio Marenzi has discussed his take on Bernstein’s latest research report.

Despite a turbulent 2020, the cryptocurrency market has started to show signs of a rebound in 2021. According to a research report from Bernstein, the gains are likely due to a “mean reversion” rally. Mean reversion is a theory used in finance that suggests asset prices tend to revert to their long-term mean or average level.

The report noted that the top cryptocurrency, Bitcoin (BTC), fell more than 65% last year. As such, Bernstein believes that the mean reversion of crypto still has room to run. They advise caution about being bearish at current levels, noting that Bitcoin in its entire history has never had two consecutive years of negative returns.

The report has prompted further discussion about the potential of the cryptocurrency market to recover. Opimas LLC CEO and Founder Octavio Marenzi has discussed his take on Bernstein’s latest research report. He believes that while the recent rally is encouraging, it is unlikely to foreshadow a sustained advance.

Marenzi has also emphasized the need for investors to remain vigilant and to take time to assess the various opportunities available in the space. He also acknowledges the importance of regulation in order to ensure the long-term stability of the market, noting that without proper oversight, the market could be exposed to further volatility.

Investors should be aware that while the recent crypto market strength is certainly encouraging, it is important to remain cautious. Furthermore, it is essential to assess the various opportunities available and to ensure that the necessary regulatory measures are in place to ensure the long-term stability of the market.

GOP Sets Up Subcommittee to Regulate Crypto & Fintech Industry

• House Republicans are setting up a new subcommittee on digital assets, financial technology and inclusion, chaired by Rep. French Hill (R-Ark).
• The goal of the committee is to provide clear rules for federal regulators and create policies that allow financial technology to reach underserved communities.
• The vice chair of the subcommittee will be Rep. Warren Davidson (R-Ohio), who has also been active on crypto issues.

House Republicans are taking steps to ensure that the crypto industry is properly regulated and that the public is well-protected. In a move to make oversight and legislation a priority, a new subcommittee on digital assets, financial technology and inclusion has been created by incoming Financial Services Chair Patrick McHenry (R-N.C.). The committee will be chaired by Rep. French Hill (R-Ark.), and the vice chair will be Rep. Warren Davidson (R-Ohio), both of whom have been active on crypto issues.

The purpose of the subcommittee is to provide clear rules for federal regulators and create policies that allow financial technology to reach underserved communities. McHenry believes the Financial Services Committee needed to spend more time on the increasingly tumultuous crypto industry, and so he set up this committee to do just that. The subcommittee will be responsible for overseeing the crypto industry and keeping it safe for the public.

The subcommittee will also focus on working with the crypto industry to create an environment where innovation and entrepreneurship can thrive. It will look at ways to make sure that crypto businesses are following the rules and that consumers are protected. This will involve developing guidelines for the industry and making sure that those guidelines are being followed.

The subcommittee will also be looking into ways to make sure that financial technology can be used to bridge the gap between the underserved and the mainstream financial system. This includes looking at ways to increase access to financial services and products, such as digital wallets and payment methods, as well as exploring ways to make sure that the crypto industry is not being used for illegal activities.

Overall, the subcommittee is looking to create an environment where the crypto industry is properly regulated, and where the public is safe and secure. With the help of this subcommittee, the United States could become a leader in the crypto and fintech space.

Cryptocurrency Predictions: From a 1,400% Rally to a 70% Plunge

Bullet Points:
• Price volatility of cryptocurrencies is an issue investors have had to contend with over the past 14 months.
• Cryptocurrency predictions range from a 1,400% rally by the end of 2023 to a 70% plunge.
• Tim Draper predicts a $250,000 price for the end of 2023, while Stan Chartered predicts $5,000.

The price volatility of cryptocurrencies has been an ever-present issue for investors over the past fourteen months. As the crypto market has begun to stabilize, investors have been presented with an array of cryptocurrency predictions that range from a 1,400% rally by the end of 2023 to a 70% plunge.

On Monday, CNBC reported on the boldest bitcoin calls for 2023, with the most optimistic prediction coming from digital venture capitalist Tim Draper. He believes that the token price will reach $250,000 by the end of 2023. On the opposite side of the coin, Standard Chartered predicts a much lower price of $5,000. That’s a difference of roughly $245,000.

The unpredictability of the cryptocurrency market has been cause for concern among investors, who are now looking to make informed decisions based on the predictions being made by industry experts. Some of the most popular predictions are that bitcoin will hit $100,000 by the end of 2023, while Ethereum is expected to reach $10,000.

In order to make informed decisions, investors must also be aware of the risks associated with cryptocurrency investments. While many of the predictions made by industry experts are based on the current market conditions, the crypto market is constantly changing. This means that the predictions may not always be accurate, and investors should be aware of the potential for losses.

The future of the cryptocurrency market remains uncertain, and investors should be aware that the prices of tokens can move quickly and unexpectedly. As such, investors should do their own research and make sure that they understand the risks associated with any cryptocurrency investments. With that said, the bold predictions made by industry experts can be used to inform decision-making in the crypto market, as long as investors understand the potential for losses.

Investors Beware: Court Rules Celsius Crypto Deposits Lost in Bankruptcy

• A U.S. Bankruptcy Judge ruled that customers who had interest-bearing accounts on the crypto lending platform Celsius Network had turned over control of their assets to the bankrupt crypto lender.
• This means that the deposits are part of Celsius’ bankruptcy estate and customers will not be able to recoup their deposits.
• Celsius held around $4.2 billion in crypto assets when it declared bankruptcy.

On Wednesday, a U.S. Bankruptcy Judge delivered a blow to the customers of crypto lending platform Celsius Network when he ruled that those who had interest-bearing accounts had turned over control of their assets to the bankrupt crypto lender. The court order issued by Judge Martin Glenn stated that the terms of service made it clear that Celsius had taken possession of crypto assets deposited into its Earn product, meaning that the deposits are now part of Celsius’ bankruptcy estate.

In February of this year, Celsius Network declared bankruptcy and ceased operations due to a lack of capital to meet obligations to its creditors. At the time, the platform held around $4.2 billion in crypto assets. The company stated that they had been actively seeking additional capital prior to filing for bankruptcy, but were ultimately unsuccessful in securing the necessary funds.

Celsius Network had been operating since 2018, offering customers the ability to earn interest on their crypto deposits. Customers could deposit funds into their account and receive interest payments in return. However, with the bankruptcy ruling, customers will not be able to recoup their deposits.

The ruling has left many customers of Celsius Network feeling frustrated, as it appears that their funds have been frozen. The ruling also raises questions about the safety of investing in crypto-related services and platforms. While the court’s decision is a setback for Celsius Network customers, it serves as a reminder that investors should always be cautious when it comes to investing in crypto.