Gary Gensler being part of the Biden Team to CCB's digital bonds, Read Today's Top 5 Crypto News
1) Biden announces Gary Gensler, crypto-savvy will lead the transition team.
Gary Gensler volunteered to be part of the Biden-Harris Transition team. He has been chairman of the Commodity Futures Trading Commission (CFTC) under President Barack Obama from 2009 to 2014. Gensler believes there is a need for proper regulation for cryptocurrency to grow. He also added Initial Coin Offering (ICO) should be considered securities.
2) CEO of FTX exchange believes ETH 2.0 is incapable of handling DeFi's growth.
Sam Bankman-Fried, Co-founder and CEO of FTX exchange told Camila Russo on the Defiant Podcast
At some point, it’s just clear that we weren’t getting around that. Either, we're going to build it on Ethereum, or we are going to build something that we thought was going to be really exciting, but not both.
He also added every time his team tried to build something new they immediately exceeded the throughput of Ethereum blockchain by orders of magnitude.
3) New Bill to be presented in Argentina's Parliament to create a regulatory framework applicable for crypto.
Ignacio Torres, Argentine congressman plans to present a new bill on Friday addressing cryptocurrencies. The aim is to make both the State and financial institutions and private companies have more options to use cryptocurrencies. Efraín Barraza, Operations Manager of Athena Bitcoin and Alberto Vega, CEO of Bithan will help in drafting the bill. Efraín Barraza said
We understand that the ecosystem, in order to grow, cannot be outside the law. "If there is no regulation, things like scams arise, like Onecoin, for example.
4) Australia’s Donald Trump concludes Bitcoin is the millennial version of gold.
Cory Bernardi, often referred to as Australia’s Donald Trump tweeted
Become convert to Bitcoin in last couple of years. My conclusion is it Is the millennial's version fo gold. Still see risks attached but are basically the same as other asset classes - leg, confidence and demand. See demand getting stronger.
5) China Construction Bank to provide digital bonds in exchange for Bitcoin.
China Construction Bank, one of the world's top banks will issue the first-ever blockchain-based digital security issued by a Chinese financial institution in partnership with a Hong Kong-based fintech. Bank intends to raise a total of $3 billion for the new blockchain-based digital bond from institutional and individual investors. Offshore branch of the bank in Labuan, Malaysia, will issue the digital bond with the minimum amount being $100 and will have a 3-month tenor making it easy for individual investors to invest.