Acutality and bitcoin : the same world of crypto

  Bitcoin bull and Galaxy Digital CEO, Mike Novogratz, says bitcoin is for everyone. He argues that those committing 2% to 3% of their net worth to this digital asset today will see substantial gains in five years. Novogratz adds that while bitcoin remains a volatile asset he does not expect its price to drop to levels seen in March when it crashed to under $4,000. Instead, he asserts that “bitcoin prices shouldn’t fall below $12,000 in this current cycle.” Evidence of a Supporting Bitcoin Price According to a  report , the bitcoin bull says unlike 2017, current “evidence supporting bitcoin prices is better than it’s ever been.” Novogratz repeats the now widely accepted view that institutional investors are driving the current bull market. Novogratz explains: This rally is being driven by institutions slowly getting into this space, high net-worth individuals, hedge funds, real institutions. Bitcoin’s become a macro-asset. The participation by these players along with increase...

  The OCC is proposing a rule change that compels large U.S. banks to offer and provide fair access to financial services to anyone that wants them. The proposition seeks to clarify the obligation of large banks to provide fair access to financial services in a manner consistent with the Dodd-Frank Act’s mandate. Discrimination Against Disfavored Businesses The Dodd-Frank Act already recognizes a broad and longstanding anti-discrimination principle that individuals are entitled to be treated fairly by national banks. The  Office of the Comptroller of the Currency’s  (OCC) proposed rule change now seeks to end the persistent discrimination against “disfavored” businesses like crypto companies. The OCC action would have the force and effect of law and enable the agency to take supervisory or enforcement action, when appropriate. In a public  notice  on the proposed rule change, the OCC argues that “some large banks continue to employ category-based risk evaluation...

  The U.S.-based company Digital Asset Investment Management (Daim) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. The plan is an ERISA compliant employer-sponsored 401(k) and assets are held in institutional-grade cold storage by leveraging the custodian Gemini Trust. During the last few years, investors have been able to leverage a digital currency retirement plan in the form of an IRA. For instance, the company  Bitcoinira  helps people invest in cryptocurrencies like  BTC ,  BCH ,  ETH , and  LTC  with the firm’s cryptocurrency-focused retirement funds. On Thursday, November 19, 2020, the Newport Beach California-based company  Digital Asset Investment Management  (Daim) revealed an ERISA compliant  employer-sponsored bitcoin 401(k) plan  that involves an allocation of  BTC . “From the moment we were approved by the State of California in June 2018, we’ve see...

  As new U.S. government measures that impose restrictions on remittances to Cuba becomes effective after November 22, Western Union, which has been operating in the island nation since 1999, will close shop. The new rule, which was published on October 27, gave Western Union 30 days to implement new restrictions. The new rule is likely to increase the appeal of crypto assets as Cubans are now expected to find a suitable alternative in a very short space of time. Targeted Sanctions At the time of the initial U.S. government announcement, the global remittances giant had promised to find a solution for its Cuban customers. However, in a later  update  on November 13, Western Union said it was unable to “find a solution in this limited timeframe.” For its part, the U.S. government says remittances to Cuba can still flow, but “not through the hands of the Cuban military, which uses those funds to oppress the Cuban people and to fund Cuba’s interference in Venezuela.” Accordi...