Author: Editorial Office CVJ.CH

The UK Financial Services Authority (FCA) has announced that it intends to ban the offering of crypto derivatives and exchange-traded notes (ETNs) starting 2021 due to the high risk for retail investors. In the press release the Financial Conduct Authority (FCA) announced that it will prohibit the sale, marketing and distribution of derivatives on cryptoassets (i.e. contracts for difference – CFDs, options, futures and ETNs) to all end-users starting in 2021. The ban will take effect on 6 January 2021 and is aimed at companies operating in or from the UK. This announcement comes less than a week after the…

Contactless payments are increasingly being used even for small amounts. For this reason the European Central Bank is considering the introduction of a central bank digital currency (CBDC). A comprehensive report on the possibilities of the digital Euro appeared on Friday. The European Central Bank is continuing its work on the digital Euro. Internal tests with a central bank digital currency (CBDC) are supposed to begin in the coming weeks. Additionally, a public survey of citizens and experts from the academic and financial sectors on the advantages and disadvantages will take place on October 12. No definitive decision until mid-2021…

A summarizing review of what has been happening at the crypto markets of the past week. A look at trending sectors, liquidity, volatility, spreads and more. A weekly report in cooperation with market data provider Kaiko. This week in cryptomarkets: Price action this week centered around two volatility-inducing news events: charges filed against Bitmex’s founders and President Trump’s Covid diagnosis. Both announcements triggered a sharp drop in cryptocurrency markets. Despite the price volatility, Bitcoin trading volumes declined for the 4th week in a row. Stablecoin trading volume and market capitalization is on the rise. The U.S. Dollar index remained inversely…

Bitcoin/USD daily basis Bitcoin USD – Renewed assertion above 10’000 USD At the beginning of the reported week, Bitcoin approached the first resistance around USD 11,000. A rejection to USD 10,800 followed on the same Monday. Until the middle of the week, the price stayed around this zone. Thursday proved to be the day with the largest trading range of just over USD 500, with trading between USD 10,450-10,970. With another correction, Friday marked the low for the week at just under USD 10,400. At the end of the week, a slight upward trend was seen with prices above USD…

What has been happening around Blockchain Technology and Cryptocurrencies this week? The most relevant local and international developments as well as appealing background reports in a pointed and compact way in retrospect in our weekly review. Interesting insights were provided this week by a study from the Cambridge University. In their third edition of the “Global Cryptoasset Benchmarking Study”, the authors determined that the estimated number of cryptoasset users worldwide is now around 101 million. The study also explores the growth within different sectors of the crypto ecosystem. Despite a decline in employment numbers since the 2017 peak, the “…

One of the world’s largest exchanges for crypto derivatives is being accused of circumventing anti-money laundering (AML) laws. The platform has daily trading volumes of up to USD 4 billion and offers, among other things, 100x leveraged futures contracts. US prosecutors filed criminal charges against four founders and executives of BitMEX on Thursday. Bitmex is one of the most influential derivatives exchanges for crypto currencies. The exchange is operated by HDR Global Trading Limited, a company registered in the Seychelles with offices worldwide. Months of investigation by the Commodity Futures Trading Commission (CFTC) Already in July, the news portal Bloomberg…

Yearn Finance (YFI) is a decentralized finance platform that operates as a yield aggregator on the Ethereum blockchain

Covesting is a new peer-to-peer copy trading platform that recently made its debut on PrimeXBT after an extended beta phase. During both the official rollout and the beta period, traders utilized various methods to develop their strategies and reputation, and demonstrate their skills to the trading community. Results varied just as widely, with some risk-taking traders racking up ROI rapidly, while others took a slow and steady approach for safe and sound risk management. Whatever the strategy manager ultimately decides to apply will be put to the test dynamically for all to see, thanks to the fully transparent Covesting rating…

The University of Cambridge has published its third study on the use of cryptocurrencies. It’s 71-page paper called “Global Cryptocurrency Benchmarking Study” examines the industry growth and looks at how different sectors behave. The study was conducted by the University of Cambridge and the Centre for Alternative Finance. It includes two surveys from March and May 2020 that compile a series of key figures in a report. Here’s a summary of the main points of this study: Growth within the ecosystem The report begins with employment figures in the crypto-asset ecosystem and concludes that while the industry offers opportunities, it…

CfC St. Moritz announced the dates for the fourth annual Crypto Finance Conference, complete with a COVID-19 safety strategy validated with the Swiss health authorities. There will be speakers from Winklevoss Capital, Swiss National Bank, European Parliament, and more. Crypto Finance Conference (CfC St. Moritz), one the biggest digital asset and blockchain conference for investors, will return to the Swiss Alps of St. Moritz from 20th – 22nd January 2021, for its fourth annual in-person event. For three days, opinion leaders and high-ranking representatives from governmental and supranational bodies, the private sector, academia and decentralized organizations exchange their knowledge about…

Up to now, assets such as land, art, wine, etc. have been limited either to geographical boundaries or accredited investors. Through ” tokenization “, assets can be made available to a wider audience. A practical example. Asset tokenisation enables the use of smart contracts to automate processes such as settlement, compliance, distribution, reporting, etc. Global transferability, 24/7 markets and partial ownership of assets will improve accessibility for investors. Assets such as real estate, private equity and art could gain liquidity with ease of transferability. With the introduction of tokenization and partial ownership, illiquid assets can overcome these disadvantages and enjoy…

Bitcoin/USD daily basis Bitcoin USD – Renewed assertion above 10’000 USD The reported week started with a drop in the Bitcoin price, which brought Bitcoin back to the 10,150 zone on Monday. The USD 11,000 zone of the previous week was thus rendered void in an instant. Until the middle of the week Bitcoin held its ground in a trading range between USD 10,250 – 10,500. On Thursday a price increase followed, with a daily closing price of USD 10,700. Until the end of the week, the price remained at this level within narrow trading ranges. Test of the newly…

What has been happening around Blockchain Technology and Cryptocurrencies this week? The most relevant local and international developments as well as appealing background reports in a pointed and compact way in retrospect in our weekly review. The future of the financial sector is digital. Digital assets have been complementing the investment universe for some time now. A wide range of instruments, trading possibilities and other services are already available in Europe. Regulation naturally lags behind fast-growing sector. Switzerland was able to introduce legislation at an early stage to ensure legal certainty. The European Commission has now proposed a new package…

The European Commission has proposed a new package regarding digital finance. For the first time a draft includes regulation on crypto-assets, which is intended to create legal certainty in the European Union (EU). According to a press release, the European Commission this week presented a new legislative proposal to regulate digital financial products and crypto-currencies. The draft legislation, called Regulation on Markets in Crypto Assets (MICA), aims to clearly define what a crypto asset is and what subcategories exist. Digital assets that were previously unregulated would also be included in the legislation. The Digital Finance Strategy More and more consumers…

Uniswap, currently the largest decentralized exchange, launched its “UNI” token last week. They celebrated this by granting 400 tokens to each user – nearly 3’000 US dollars for a short period of time. We explain the latest events concerning Uniswap and its competitor, SushiSwap. Decentralized Exchanges (DEX), together with the DeFi space, have recently experienced an incredible hype. Uniswap was able to establish itself as the largest platform. Within 90 days, the total value locked (TVL) has exploded from almost 50 million USD to 1.5 billion USD. There have been countless copies of the platform lately, which led to huge…

The Zug-based crypto and blockchain investment company CV VC announced that it is investing in the new Finka Token. The security token gives investors access to a cattle farm in Bolivia as an asset class. CV VC has signed an agreement to invest in the Finka Token as part of a newly introduced Digital Assets category, in addition to VC investments. Their investment sets a foundation for sustainable Digital Asset investments in the rapidly growing blockchain ecosystem. A way to democratize capital The Finka Token is an investment with significant impact. Beyond the positive environmental and social impact, by leveraging…