Defeating the ‘Domination’ of the US Dollar

With bitcoin seemingly back to ‘normal’, Iran and Myanmar are talking about a sanction busting ‘Muslim’ cryptocurrency. We take a moment to look at historical adoption over time, and how it might apply to national cryptocurrencies.

Transcript

Adam B. Levine:  On today’s episode, Back to Normal Bitcoin, Nation-State Crypto,  and Miner Hedging Strategies

Adam: It’s December 20, 2019, and you’re listening to Markets Daily, I’m Adam B. Levine, editor of Podcasts here At Coindesk, along with our senior markets reporter, Brad Keoun, to give you a concise daily briefing on crypto markets and some of the most important news developments in the sector over the past 24 hours.

Related: MARKETS DAILY: Bullish Bitcoin Dreams and a 2019 to Remember

Brad Keoun: Bitcoin appears to have settled back into the range where it’s traded for the past month, roughly in a range between $6500 and $7800.

This morning the price is down just a touch, on light volume, to about $7100, right in the middle of that range

As we head into the final weeks of the year, bitcoin is up 93 percent year-to-date, though traders are wondering if the price next year could rise back above that June high around $13,880

Adam: Turning to Europe, the German stock exchange owner Boerse Stuttgart Group is teaming up with Japanese financial giant SBI Group on a joint initiative to expand their digital assets businesses internationally

SBI will take a stake in the German exchange’s regulated digital assets-trading platform and also might invest in its venture-capital unit

The partnership aims to develop  QUOTE “a truly global end-to-end ecosystem for digital assets, utilizing blockchain technology” UNQUOTE

In the U.S., Forbes reports that Congressman Paul Gosar, an Arizona Republican, has introduced a draft bill called the Crypto-Currency Act of 2020 to clarify regulation of digital assets

The bill would create three categories of digital assets, cryptocurrencies, crypto-commodities and…

Source Link