BITCOIN NEWS FROM AROUND THE WORLD

Bitcoin news from Brazil, USA, Turkey, Georgia, Singapore, Russia, Iran

Global adoption taking off!

73% of US retail investors find cryptocurrency trustworthy, despite bear market crash - Bitstamp survey

• Survey of 28,000 institutional and retail investors from 23 different countries that was done by an independent research organization.

Increasing trust in Bitcoin and cryptocurrencies, or a loss of faith in traditional finance? Probably a lot of both.

EU voted down a Green Party proposal to research alternatives to proof-of-work mining.

• The Green Party continues to prove they don't understand Proof of Work, the utility of decentralisation, and the profligacy encouraged by corruptible proof of stake protocols.

Environmentally-conscious Bitcoiners are putting more analyses out to demonstrate how Bitcoin mining will actually accelerate the adoption of renewable energy.

COINBASE: Traders in Georgia cashed out their Bitcoin and crypto for 100 times the market rate due to a technical bug.

• Georgians making withdrawals from Coinbase had their bank accounts suspended soon after. Coinbase wants their money back. Good luck with that!

Georgia has approved the legal framework for cryptocurrency regulation.

• Georgia will align national legislation with three significant EU directives: the capital requirements directive (CRD), the virtual asset service providers (VASP) directive, and the tax services directive (PSD2).

Singapore’s largest bank, DBS, aims to expand Bitcoin and crypto services to 300,000 new clients.

• Private banks authorized investors, and other exchanges are among DBS bank's targeted clients in Asia.

Indonesia to launch a "crypto stock" exchange by the end of 2022

• The exchange will list businesses in the digital asset sector, including 25 exchanges already authorized to operate in the country.

Binance just hired a former Brazilian Central Bank president as an adviser.

• Henrique Meirelles the newly recruited Binance adviser served as the head of Brazil's central bank from 2003 to 2011.

UK has a new Prime Minister, who is supportive of Bitcoin and crypto.

'We should welcome cryptocurrencies', said Liz Truss in 2018

•The third woman to hold the position of Prime Minister of the United Kingdom is Mary Elizabeth Truss (known as Liz Truss). Truss praised cryptocurrencies in her tweets in 2018, long before she was the prime minister of the United Kingdom. The cryptocurrency industry is optimistic that Truss' new position may help propel digital assets and bring forth policy improvements that don't limit their potential.

Turkey's ‘official’ inflation is over 80% for the first time in 24 years.

• The Turkish president continues to insist on keeping one of the lowest interest rates in the world in real terms, which has caused inflation to surge. Government officials insist that inflation will start to decline in the last quarter of 2022.

Germany has approved €65 billion ‘inflation-relief’ spending package.

• The relief package is intended to ease household stress caused by the skyrocketing cost of energy. A one-time payment of €300 will be given to millions of retirees. Students will also get a one-time payment of €200.

Saudi Arabia's central bank has appointed cryptocurrency chief to advance digital goals

• Officials in Saudi Arabia had previously taken a more cautious stance toward virtual assets due to their speculative nature. The appointment points to new ambitions for the Gulf state

Iran is now licensing Bitcoin miners under new regulatory framework.

• A miner must get an establishment license and an operational license in Iran before it can begin mining cryptocurrencies. Licenses are issued by the Ministry of Industry, Mine, and Trade. The new regulatory framework also approves the use of cryptocurrency to pay for imports.

History may consider 2022 the year that Bitcoin joined US Treasuries and Gold as a store of value - Bloomberg Intelligence

• Mike McGlone, the head of commodities research at Bloomberg.

+1.3M Brazilians filed ownership declarations of #Bitcoin or crypto in July - Tax Authority

• Brazilian legislation mandates that even if trades are not conducted through centralized exchanges, all cryptocurrency holders must provide their information to the Tax Authority. Comparatively, just 365,000 people informed the Tax Authority of their cryptocurrency holdings and transactions in May 2022. In June, this number increased to about 800,000, and in July, it increased by more than 50%.

JIM CRAMER: Stay away from speculative assets like cryptocurrencies.

• Bottom signal :)

Anti-Cramer trades have proven to be profitable in the past.

Good luck if you're trying to pick the bottom.

I just buy and HODL.

Thank you for reading :)

If you enjoyed this post, pls share it with friends and colleagues.

Cheers,

Archie