Crypto News Daily roundup for December 7

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TheCoinRise, with all the regulatory updates, collaborations, and controversies, is back with another daily crypto roundup, full of greenery, for December 7.

December has not been a very profitable month as of now, but the market has seen a lot of greenery today as most of the coins started an uptrend after a huge sell-off yesterday. Bitcoin has been up by around 5% in the last 2 hours and is currently trading around $51,000. We cannot say that the bulls are back until BTC crosses the resistance line given below in the BTC daily chart.

BTCUSDT_2021-12-07_22-41-42

Bitcoin 24-hour chart

Ethereum, on the other hand, surged its value by 3.3% and is trading at $4,331 at the time of writing. We can, however, not comment on the upward motion until the market breaches certain critical levels.

Polygon (MATIC) and Polkadot (DOT) have been the star of the show by surging themselves extraordinarily.

Australian females have doubled their crypto portfolio in 2021

The gender gap between males and females in the crypto industry is nothing new to know about, but a recent survey by the Australian crypto exchange Independent Reserve Reveals that Australian females who owned cryptocurrency currently or previously have doubled their crypto portfolio in 2021. The survey included 2000 Australian females who saw their assets rising from 10.3% in 2020 to 20% in 2021.

Gemini partners With Bancolombia

Columbia’s largest bank Bancolombia has taken a step forward to adopt cryptocurrency by joining hands with the New York-based Crypto exchange giant Gemini. The collaboration aims to see the bank’s consumers trading crypto tokens on the platform.

Gemini also reiterated its opinion that cryptocurrency would likely play an important role in the development of Latin America, particularly as interest in blockchain and other innovative technologies grows in the region.

Hashed under a tax investigation

As per the local media, the South Korean venture capital and investment firm Hashed is currently under investigation by the national tax service (NTS). The report says that the exact reason and level of Investigation is still not known, but the 4th Bureau of Investigation, which is selected as the investigation handler, is famous for its matters into tax evasions and slush fundraising activities. 

The authorities are aiming to compile the Investigation as February, 2022 ends as the country is going to have a Presidential election in March next year.

Chainlink Labs appoints former Google CEO as its strategic Advisor

Eric Schmidt jumped aboard Chainlink, the popular decentralized oracle network, as its strategic advisor. The former Google CEO will be responsible for using his expertise for the widespread adoption and next-generation innovation of the platform. During his tenure as CEO of Google, the firm acquired YouTube, AdSense, and Android, taking huge steps towards success.

Spiral brings Bitcoin Lightning Development Kit

The crypto subsidiary of Square (rebranded to Block), Spiral, has shown off its Lightning Development Kit (LDK), which claims to strengthen the Bitcoin network.

Spiral released a video on Tuesday featuring Jack Dorsey to demonstrate the functions and functionality of the Bitcoin Lighting and Lightning Development Kit (LDK).

Gibraltar to use blockchain to upgrade its eGov system

Gibraltar is focusing on using blockchain technology for the storage of official documents and classified information across its system which shows the positive attitude of the government towards the technology.

The government of Gibraltar has decided to upgrade its eGov system and has joined hands with crypto exchange Bitso and the fintech startup IOVlabs to offer financial solutions using the Bitcoin blockchain.

Canadian crypto exchange delists XRP and USDT

Ripple, amid the strong regulatory and legal issues with the SEC, has seen another exchange delisting its token, XRP. The renowned Canadian crypto exchange platform Newton has announced that it is going to delist Ripple (XRP) and Tether (USDT) from its platform, with the delisting process accomplished through different stages. 

Bitwise CIO doubts BTC reaching $100,000 before 2021 ends

Money market enthusiasts are now doubting the earlier forecasts of Bitcoin rising to $100,000 Before 2021 ends. Matt Hougan, the chief investment officer (CIO) of Bitwise, believes that Bitcoin breaking its current all-time high in the course of the next three weeks might be too far a reach.

Hougan adds that $100,000 is an unachievable price for Bitcoin in 2022, but for this year, he is not so sure.

Japan follows the U.S. in stablecoins regulations

The regulatory bodies in Japan have reportedly been following methods of the U.S. regulator in terms of solidifying regulatory control for stablecoins. Multiple local newspapers reported that the Financial Services Agency (FSA) has issued updated limitations around stable coin issuance in the country, and now only banks and wire transfer services are allowed to do so.

The government aims to ensure economic stability by preventing widespread liquidation due to fear of a bankrupt situation of currency issuers. Japan is also planning to bring its own Yen-based cryptocurrency by the end of 2022.

Investors are sitting with their fingers crossed as the market has still been acting as a fighting ring for bulls and bears. TheCoinRise will return tomorrow with another daily roundup.

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