While the Russian central bank is thinking aloud about a Bitcoin ban, Zimbabwe is sounding more crypto-friendly. Meanwhile, Trump is showering the U.S. population with helicopter money and a self-proclaimed Bitcoin inventor has to dig deep into his pocket.
Everything that has happened in the past week on bitcoin and regulation.
Russian central bank calls for a ban on Bitcoin
Russia has been trying to master the mammoth task of crypto regulation for two years. In the past, the country repeatedly fluctuated between prohibition and legalization. As it currently looks, it could go in the negative direction again as the Russian central bank urges the bitcoin ban.
Zimbabwe: Central bank wants to regulate cryptocurrencies
Zimbabwe is anything but a balanced economic climate. The policy of the central bank has almost destroyed the national currency, which should not improve in the current economic situation. At least when it comes to Bitcoin regulation, however, there is now a ray of hope. The country’s central bank has decided to issue guidelines for crypto companies. So far, she had taken a more restrictive course.
Helicopter money is coming – time to invest in Bitcoin?
In the wake of the corona crisis, the US government under President Donald Trump announced helicopter money last week. Soon, every American should receive a check for $ 1,000. With this, the government wants to cushion the impending recession and prevent an economic depression. However, the monetary antidepressant also carries risks – in the long run, the fiat currency may devalue. What is a high risk to the global economy can turn out to be an opportunity for cryptocurrencies.
Fed announced on Monday the start of unlimited QE and that they will buy an unlimited amount of assets in order to stabilize the economy according to Marketwatch.
This is what happened in the markets immediately after the announcement. Initial results speak for themselves…
We talked in February that Hong Kong also is taking the same measures by releasing helicopter money to every adult citizen. Also, the European Central Bank is looking for packages to rescue the economy.
Bitcoin fraud: U.S. authorities strike
The US authorities have been actively looking for fraudsters. As it turned out again last week, with success. The Department of Justice managed to arrest and subsequently sentence two Canadian scammers. They pretended to be employees of the HitBTC crypto exchange on Twitter, thereby pulling Bitcoin out of a user’s pocket.
Craig Wright has to pay court fees
There are also new developments in the never-ending lawsuit for “Faketoshi” Craig Wright. In the dispute with Ira Kleimann’s estate over the enormous amount of 1.1 million Bitcoin. The self-proclaimed Bitcoin creator must now dig deep into his pocket. As judge Reinhart decided last week, the mastermind behind BSV now has to pay Kleiman’s legal fees.