Crypto news digest is back and we are ready to update you on the events of the past week!
There is an opinion that the market is out of crypto winter and will pick up the pace. It’s pretty early to make such claims, but January has been a successful month for bitcoin. According to cryptorank.io, the first cryptocurrency closed the month at $23,125, which is good compared to the value at the beginning of the month $16,541. The last time such figures were recorded in October 2021.
Perhaps it is this significant increase in bitcoin’s value that gives reason to think that winter is over.
But for now, it is worth paying attention to how bitcoin is mined. This is another major agenda in the latest cryptocurrency regulatory trends. Mining turnover in Russia has grown tremendously, largely due to the government’s active and progressive policy regarding the regulation of cryptocurrencies. Mining in Russia is becoming a full-fledged business, a separate industry with its own major representatives, big opportunities. Thanks to all the new laws, mining and cryptocurrencies are gaining bank liquidity and legal protection.
Incidentally, as the owners of the digital currency mining business themselves say, most of the equipment is made and comes from China, notwithstanding Hong Kong, which is gradually implementing its own legislative initiatives.
One that has emerged recently is the introduction of licensing for Stablecoins. That way all companies that will be operating out of the market are obliged to document their services. The Hong Kong Monetary Authority, a regulator in Hong Kong, will oversee all phases of using and working with stablecoins. A number of major companies in the industry and beyond are helping Hong Kong develop its licensing system: Binance, MasterCard, Visa, Matrixport, Circle, Ripple, Animoca Brands and others.
The week turned out to be quite full of news and events. Most of them turned out to be positive, we hope that this one will be just as good!
See you next Monday and wish you good trading on the BIT.TEAM exchange!