February 2020 – Weekly Recap 2

Weekly Recap

February 8th, 2020 - Feb 15th, 2020

Welcome to our 2nd weekly recap for January.

Overview 

Crypto News

 

Uber CEO Dara Khosrowshahi has said that the company will accept bitcoin and other cryptocurrencies as a form of payment if there is a benefit and a need for it.

The oldest bank of the United States, Bank of New York Mellon (NYSE: BK), has revealed it will start financing bitcoin and other digital currencies through the rollout of a new cryptocurrency custody service.

The Ontario Securities Commission has approved a bitcoin exchange-traded fund, according to public records published Thursday.

BloombergQuint reported the news on Thursday, citing an unnamed “senior Finance Ministry official.” The ban won’t be imposed overnight, according to the official, who said the government would give a three-to-six month transition period for existing investors to liquidate their investments.

Deutsche Bank has joined the growing ranks of large financial institutions exploring cryptocurrency custody, with aspirations to offer high-touch services to hedge funds that invest in the asset class.

Apple Pay is the newest way BitPay makes living life on crypto easy. Simply open Apple Pay and scan or enter the BitPay card information to use it wherever Apply Pay is accepted.

Ukraine and the United Arab Emirates have signed memorandums and contracts worth $3 billion or more, the presidential press service said.

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce is reportedly vocalizing the urgent need for regulatory clarity across the crypto sector.

Despite this weak price action, a massive influx of new capital may be imminent, thanks to MicroStrategy. The company announced plans to raise roughly $600 million – all of which would be used to add to their BTC reserves.

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