The impact of the coronavirus has hit financial markets in a big way. Reports that the disease, which has killed 2,700 people so far, has spread outside of its epicenter in China led to the Dow Jones dropping by 2.8%, and the NASDAQ by 2.9% on Monday. Gold has spiked to seven-year highs, but with all that going on, crypto has remained relatively stable for the normally volatile asset class that it usually is
The oracle from Omaha has spoken. Following his annual letter to his Berkshire Hathaway shareholders, Warren Buffett gave a lengthy interview to CNBC this Monday covering a slew of financial issues from the coronavirus possible effect on US companies and world markets to the strength of the US economy. He also had a chance to clarify his feelings on cryptocurrencies and Bitcoin which unsurprisingly so, have not changed since his faithful dinner with TRON CEO Justin Sun
Former Wall Street executive and current crypto advocate Caitlin Long who has been making many strides in pushing crypto regulations on state levels is taking advantage of the progressive Wyoming legislature to establish the first-ever crypto bank in the United States
G20 central bankers and finance ministers want to push for a wider adoption of standards compelling crypto exchanges to disclose information about users.
After a weekend summit in Riyadh, G20 members of financial institutions said many countries haven’t yet aligned themselves with the standards imposed by the Financial Action Task Force and urged them to do so rapidly. The FATF held its own plenary last week in Paris and had crypto prominently on the agenda. While we’re used to seeing governments seeking to clamp down on the emerging sector, Dave Jevans, CEO of Research group CipherTace, who attended the Paris meeting, spoke to us and said that is not the case.
Sweden has begun testing the e-Krona, not be confused with the Coronavirus of course, rather a digital currency that could soon become the nation's official cryptocurrency. The state-backed testing phase will run for a full year and If successful, the hope is that the nation continues to move away from cash and use e-Krona as part of a CBDC - and indeed when it comes to the EU strides have been made towards a CBDC but in Neighbouring Russia the situation is a bit different which leads us to another installment of our CBDC series.