Week in review: September 10, 2021 – Bitcoin as a national currency

Written by Robby Ramos
on September 13, 2021

In this week’s newsletter:

  • El Salvador becomes first country to adopt Bitcoin as national currency.
  • ALT 5 Sigma forms agreement with leading wealth manager in Latin America expansion.
  • 27% of Americans back making bitcoin legal tender in the US.

Read our weekly round up below.

El Salvador Becomes First Country to Adopt Bitcoin as National Currency

The Wall Street Journal: September 7, 2021

Tiny and impoverished El Salvador’s move to become the first country in the world to adopt bitcoin as legal tender got off to a bumpy start, as the government took its bitcoin e-wallet offline for several hours after tens of thousands of people tried to download the app, overloading servers.

ALT 5 Sigma Forms Agreement with Leading Wealth Manager in Latin America Expansion

Accesswire: September 7, 2021

ALT 5 Sigma today announced the signing of an agreement to form a joint venture with Fisherman Wealth Management, a leading wealth manager in Latin America, to create a new platform that will enable it to deliver digital assets to customers in El Salvador and neighboring countries.

27% of Americans Back Making Bitcoin Legal Tender In The US, a YouGov Poll Shows

Business Insider: September 10, 2021

The poll, which covered 4,912 US residents, came after El Salvador made bitcoin legal tender on Tuesday. The digital money is now an official currency of the country and the population can pay their taxes and buy goods using it.

Institutional Investors Dominated The DeFi Scene in Q2: Chainalysis Report

CoinTelegraph: September 8, 2021

The decentralized finance (DeFi) market appears to no longer be the domain of retail actors alone as the institutional investment footprint in the crypto market segment continues to attain more significant levels.

Ukraine Adopts Law ‘On Virtual Assets’ to Regulate Crypto Market

Bitcoin.com: September 9, 2021

The parliament in Kyiv has passed legislation determining the rules for crypto-related operations in Ukraine. The law “On Virtual Assets” recognizes cryptocurrencies as intangible goods while denying them the status of legal tender. It also regulates the activities and obligations of crypto businesses.

$500 Billion German Union Investment To Add Bitcoin Exposure

Bitcoin Magazine: September 8, 2021

Frankfurt based asset manager Union Investment is testing a pilot program with Bitcoin exposure certificates, according to Bloomberg. If the program is successful it will open Bitcoin exposure up to other funds as well.

Swiss Bourse Gets Regulatory Approval To Offer Landmark Digital Token Exchange

CNBC: September 10, 2021

SIX, Switzerland’s stock exchange, has been given regulatory approval to launch its long-awaited digital bourse. The SIX Digital Exchange said Friday it obtained two licenses from FINMA, the country’s markets watchdog, to operate a stock exchange and depository for blockchain-based securities.

How Cryptocurrency Is Creeping Into Our Lifestyles

Yahoo Finance: September 7, 2021

The pandemic-driven acceleration towards a digital society came about just as the cryptocurrency markets were starting to gear up for their next big bull run. And unlike 2017, when most projects consisted of nothing more than a token, a white paper, and a vaguely marketable pitch, things are different this time around.

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Robby Ramos

Robby Ramos

Director of Digital Marketing | Bridging the gap between digital assets and financial institutions.