CryptoTraders Pro Weekly Review is in! For this week’s CryptoTraders Pro Weekly Review, we took a look at some big stories that we might have missed, and some to recap that we did. We should see a flurry of activity in the next year as governments race to chase after China and their Digital Yuan.
The UK has determined that digital assets are real and are considered property. A panel lead by Chancellor of the High Court, Sir Geoffrey Vos, has asserted that crypto assets are property and therefore can be traded and is protected under British law. This is a positive – as it will continue to help shape and form British policies regarding cryptocurrencies.
The Canadian Government is caught with their pants down again with the Einstein exchange suddenly disappearing with users’ funds. They had hoped to stop another QuadrigaCX from happening, but according to the British Columbia Securities Commission – THEYRE too late. The exchange only has just shy of $34 thousand in their coffers – more than $12 million dollars remains missing.
BitMEX was in the news recently for releasing the email addresses of thousands upon thousands of its users – but they’re not the only major security goofs for this month. GateHub has acknowledged that 1.4 million crypto wallet passwords are in the wild after a hack of their services. Everything, from passwords, email addresses, mnemonic phrases, and more were all compromised.
The Manager Stablecoins are Securities Act of 2019 would put Libra under the control of the US SEC – this is a bill from US lawmakers that want to classify Libra as a security. The stablecoin has already lost enormous consequential partners – this is just another attack on the project. Just as a gentle reminder – the SEC are not fans of digital currency.
We’ve talked before how the Ukrainian government is big into adopting cryptocurrency. They are moving forward with that reputation by drafting a bill for consideration that would tax crypto at a flat 5%. The bill would also treat crypto as property, something that the United States Internal Revenue Service already does.
Binance offices in Shanghai were raided – the news of this caused the crypto market to tumble. Fingers are pointing towards Binance – the closures of the offices were in response by the Chinese Government when faced with news that Binance wanted to get back into China. Binance denies it had never had an office in Shanghai.
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