Crypto News Daily roundup for December 14

The market slipped down again, resulting in a day full of chaos and bleeding all over the crypto world. TheCoinRise is here with the daily crypto news roundup for December 14 with all the market sentiment, regulatory comments, collaborations, and disputes.

On Monday, the cryptocurrency market reverted to a bearish state, with the vast majority of top tokens losing significant amounts of value. After failing to break above the $50,000 threshold, Bitcoin (BTC) fell to a daily low of $45,894 and is currently trading around $47,200. In addition, Ether (ETH) has dipped to a daily low of $3,680 before finding its ground and has risen back to $3,790. Most of the prominent altcoins, such as Ripple (XRP), Solana (SOL), Cardano (ADA), and Polkadot (DOT), have been witnessing severe price drops recently.

The recent lawsuit filed on Monday against the controversial stablecoin Tether (USDT) in New York is said to be one of many combined reasons for the sudden slip.

Questions on SEC chair’s unclear stance on crypto

A US SEC commissioner Hester Peirce, also known as “Crypto Mom,” is pushing back against the regulatory body’s agenda for failing to provide clarification on digital assets.

In a joint statement released Monday, SEC Commissioner Elad Roisman and Hester Peirce expressed their “disappointment” that chairperson Gary Gensler’s regulatory agenda did not include items intended to help companies in raising capital, improving investor protection, undoing recent commission rules, and clarifying cryptocurrency. As stated by the two authorities, the uncertain stance toward digital assets held by Gensler could make it difficult for companies attempting to enter the market.

Gemini on the search for the APAC Head in Singapore

Apparently, according to a job advertisement on LinkedIn from last week, cryptocurrency exchange firm Gemini is looking for a new Singapore office leader. In recent weeks, former APAC chief Jeremy Ng resigned from his position.

Around two years have passed since Ng joined the exchange, and he had been promoted to the position of managing director of the Singapore operations five months earlier. As a result of growing institutional demand, the exchange was pursuing an expansion across Asia at the time.

In a statement published on December 13, Binance’s Singapore crypto trading platform said it would withdraw its DPT license application and suspend operations in the country.

Brazil ready with a solid entry in the crypto world through its stock exchange

The stock exchange in Brazil, B3, is attempting to enter into the cryptocurrency sector by the year 2022, according to InfoMoney. It was reported that B3 President Gilson Finkelsztain gave a presentation on December 10 indicating the same. B3 is looking for opportunities in the digital asset custody, asset tokenization, and crypto-as-a-service (CaaS) fields, among others.

San Pablo-based stock exchange facilitating over-the-counter (OTC) trading services, as well as access to liquidity hubs, is also under consideration.

Elon Musk prefers DOGE over BTC for daily transactions as Tesla decides to accept DOGE payments

TIME magazine has named the world’s richest man Elon Musk, Person of the Year 2021, on December 13. During an interview with TIME Magazine, Elon Musk, who is well-known for his support for cryptocurrency, said that he prefers DOGE over BTC for transactions as BTC volume is very low, and the cost per transaction is pretty high.

Elon Musk, also known as the “Dogefather,” has been a long-time supporter of the cryptocurrency Dogecoin, which was inspired by memes (DOGE). He further informed that, in addition to Bitcoin (BTC) and Ethereum (ETH), he also has a small amount of DOGE.

Tesla, solely founded by the billionaire, declares that from now on, it will accept DOGE payments for specific items. This resulted in a sudden surge in the price of the meme token, rising its value by more than 25% amidst the bleeding market. Here’s how to buy Dogecoin crypto token.

German Savings Banks are planning to offer crypto-related services in 2022

Sparkasse, a group of banking institutions specializing in providing savings accounts in German-speaking nations, is apparently considering the possibility of offering Bitcoin (BTC) and Ethereum (ETH)-related services starting in 2022. A specialized digital currency wallet and trading platform in-house are among the key goals of the savings banks.

The ideas have been incubating for quite some time, and according to rumors, the final phase is awaiting approval from the Sparkasse committees early next year before proceeding to the next stage. Some Sparkasse members have already expressed their enthusiasm for the proposals, and German IT service provider S-Payment has apparently been charged with developing the project’s overall design concept and strategy.

The market’s supposedly extended bull run cycle seems to be bringing new highs amidst the huge institutional money inflow, and it will be exciting to watch the next move by the digital assets. TheCoinRise will be back tomorrow with another daily roundup.