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.
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.
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…