Crypto.com secures the Payment Institution License in Brazil. Apple to allow third-party app stores in the EU. Bank for International Settlements sets a 2% limit for banks’ crypto reserves.
Weekly Market Index
Last week’s crypto market prices fell slightly by -5.43%, while volume and volatility rose by +14.90% and +210.58%, respectively.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) were down -2.0% and -6.2% in the past seven days, respectively. Other selected top-cap crypto tokens also fell.
News Highlights
- Crypto.com has secured a Payment Institution License (EMI) in Brazil from the Central Bank of Brazil. This license will allow Crypto.com to continue offering regulated fiat wallet services for customers in Brazil.
- Apple is gearing up to permit third-party app stores on its devices to comply with new anti-monopolistic requirements from the European Union (EU), which could be beneficial for crypto and NFT app developers. Under the new rules, European customers would be able to download alternative app marketplaces outside of Apple’s proprietary App Store.
- The Central Bank of Brazil plans to introduce a central bank digital currency (CBDC) by 2024. The bank will conduct a pilot program working with some financial institutions before starting wider use of the CBDC.
- The Bank for International Settlements (BIS) endorsed a global standard for banks’ exposure to crypto assets. The standard sets a limit of 2% on crypto reserves among banks.
- CSOP Asset Management, a China Southern Asset Management subsidiary, will list the first bitcoin and ether ETFs on the Hong Kong Stock Exchange this week. The ETFs will track CME’s bitcoin and ether futures.
- Grayscale Bitcoin Trust (GBTC) shares hit a record-high discount rate relative to the price of bitcoin, pushing past 50% for the first time after the U.S. Securities and Exchange Commission reiterated its reasons for denying an application to convert the world’s largest bitcoin fund into an exchange-traded fund.
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