Here are the top developments that happened around the market:
Highlights of the week
- Sunday saw a collective surge in both Bitcoin and Ethereum prices, which has led to a market-wide frenzy, driving crypto-market participants to accumulate digital currencies. Ethereum approaches the highly awaited $3,500 mark, whereas Bitcoin manages to surpass $47,000.
- The Vietnamese deputy prime minister announced plans to develop a legal and regulatory framework within the country whereby transactions can be facilitated and encouraged.
- One of the largest derivatives trade platforms has announced tradeable futures options for both Bitcoin and Ethereum, further signally a mainstreaming of digital currencies within the global financial markets.
- Japan has announced plans to revise and restructure foreign exchange regulations in order to ensure Russia is unable to evade sanctions through trading via digital currencies.
- Prominent players from within the gold industry had come forward to announce plans for a blockchain-based system in order to facilitate supply chain management, whilst ensuring the authenticity of billions.
- Amidst heightening interest surrounding cryptocurrencies, the Indian government announced that gains on digital currency transactions will be taxable by 30%.
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