The conflict in Ukraine can not lead to a worse monument. Obviously this is a human tragedy. The deaths, the displaced, the divided families. But when it comes to its economic effects, it has definitely been the straw that broke the camel’s back. In fact, international organizations have already lowered their estimates for this year in terms of world economic growth. The rise in energy prices in particular has been one of the most painful consequences of the war. I repeat: Speaking exclusively of the economic.
The measures taken in China due to the new outbreaks of the coronavirus stand out for their severity. The reports about the rigidity of the confinement in Shanghai are terrifying. Food shortages, excesses on the part of the authorities, and anxiety on the part of the population. When will the restrictions be lifted? Still not known. Meanwhile, the situation in China is one more setback for the proper functioning of global production and distribution chains. Of course, these events slow down the Chinese economy and further disrupt the supply of products worldwide.
Elon Musk continues to move his pieces to take control of Twitter in a supposed crusade in favor of freedom of expression. It seems that everything Musk does is always for the good of humanity. However, nothing is certain with this character. We do not know for sure if the move is another of his publicity stunts or if the thing is serious. You never know with him. The truth is that Twitter is defending itself tooth and nail to avoid the takeover. Will the authorities allow the acquisition? After all, This is a subject accused of securities fraud with the use of tweets.
In the meantime, Bitcoin and cryptocurrencies keep dancing to the volatility in a market of investors highly concerned about macroeconomic uncertainties. The US Federal Reserve has taken a serious blow to its credibility due to its belated reaction to economic overheating. I mean, the matter definitely got out of control. However, the most optimistic suggest that inflation has finally reached its peak. Which could mean the worst is over. Will that be true?
Now, let’s take a critical look at this week’s most popular crypto news.
One of the main distribution applications in Latin America will accept cryptocurrencies
I must confess that I am one of those people who prefer accumulate cryptocurrencies and not spend them. In general, my daily expenses are made in fiat. Because, as far as possible, I avoid spending my cryptos. In my case, I see the money fiat as a medium of exchange and crypto as an investment. Of course I do make exchanges from crypto to fiat and from crypto to fiat constantly. But I always make a very clear distinction between my investments and my everyday money.
This is adoption news. Which is always good publicity for the ecosystem. On the other hand, it is always convenient for the consumer to have the option to pay in crypto. In other words, It is a favorable situation for all. The company benefits. The consumer is favored. And the crypto ecosystem is favored. Now, what percentage of total sales will be made in crypto? That remains to be seen.
The Brazilian Senate announces the upcoming approval of the ‘Bitcoin law’
Many laws are always passed in an election year. The party in power generally seeks to secure its policies in the event of losing ground in the next electoral contest. Now, I am not very aware of Brazilian internal politics. Therefore, you cannot go into details. However, andThis law will have a future to the extent that it manages to obtain the support of the majority of political sectors.. That is, to the extent that a consensus is built. Otherwise, the next government in office will wipe the slate clean.
Elon Musk’s “top priority” for Twitter includes reducing tweets about cryptocurrency scams
The gentleman is on campaign. And if Elon Musk knows how to do something, it is to sell a dream. The king of the future is an expert in making promises. Personally, I think that Twitter in the hands of Elon Musk would be a real nightmare. The subject certainly speaks very nicely. And no one can deny his charisma. People fall in love with him and he is considered a genius. TRUE. However, his background as a prankster, manipulator, and troublemaker doesn’t make it the ideal candidate to be the impartial arbiter of such an important and complex platform. Finally, we have to wait for the development of these events. Will he be able to buy Twitter?
The Bank of Spain informs that banks can block the sale of cryptocurrencies for security to avoid crimes
Regulation has always been a very controversial topic within the crypto community. Well, we must remember that this is, after all, a community founded by libertarians and anarchists. What Satoshi Nakamoto actually created was a limited-supply (decentralized) code that could potentially function as a kind of citizen currency. Here obviously Californian ideology (libertarianism, counterculture and technophilia) comes into play. Clearly we are in the presence of a strong anti-statist and anti-bank element.
Of course all this can be kept pure in small groups. In fact, it is very easy to be a radical in the dark. Nevertheless, the crypto community is no longer a small group of Californian ideology libertarians. Now, the banks are also investors and promoters of the project. Governments are intervening. And the community is changing settings. Bitcoin today is more “normal”. It is no longer a niche of nerds and “strange” people. We are big. And because we are great now we must comply with the laws of the great people.
Bitcoin Forum in the Senate of the Republic of Mexico
Governments are talking about Bitcoin, because other governments are talking about Bitcoin. What is positive. But, at the same time, it separates us a bit from our libertarian origins. Bitcoin is, at its heart, a citizen movement. But it is a citizen movement that is getting bigger and bigger. You could say we’ve risen to the big leagues. Consequently, we must be willing to accept the challenges and changes associated with large sizes. What happened to the libertarian utopia?
Regulation is necessary. Investors require clear rules in order to trade. Large capitals need guarantees to continue investing. Sure, governments need to have discussions about cryptocurrencies. The times of regulatory ambiguity have their days numbered.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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