Copper’s Weekly Update – 30 December 2019

Looking back at last week’s biggest news, including price analyses for BTC, ETH, and XRP.

Copper Team

Highlighting what went right, and what went wrong, in this week’s crypto news analysis

In the last week of 2019 crypto regulations took the spotlight. Many firms are eyeing BaFin’s requirement to register intent to apply for a licence with suspicion since ‘final regulations’ have not yet been released. Elsewhere, France’s AMF released its rules and guidance on Thursday, which expand on the PACTE law passed into legislation earlier in the year. Then there’s NYDFS’s updated guidance, South Korea, Malaysia, China, the list goes on.

In London, Copper has just confirmed its role at the Digital Asset Summit, taking place at the Rosewood Hotel on the 10th of February. Join us as our CEO heads up an impressive panel of speakers on the topic of prime brokerage.

Below is our weekly roundup of industry and coin specific news. If you’d like to get in touch with us about any of our products or services, we look forward to hearing from you. Just send us a note.

Latest Industry News

South Korean Central Bank to organise a CBDC task force

  • The Bank of Korea will hire experts to study the effects of distributed ledgers, cryptocurrencies and CBDCs on financial settlements and security
  • A previous task force in the country found that CBDCs could adversely affect the demand for traditional banking services, which could impact financial stability

Read More

Chinese regulator issues new crypto warning

  • The China Securities Regulatory Commission has warned against new risks from the escalation of crypto trading activities, digital currency mortgage provision and introduction of zero-interest loans
  • While being pro-blockchain, the warning reiterated the Chinese government’s negative stance towards cryptocurrencies

Read More

OKEx rolls out bitcoin options trading for select clients

  • To access OKEx options, users will have to go through a KYC verification process, as well as pass a suitability test to show they understand options trading
  • Derivatives exchange giant CME Group has also been preparing to launch an options product tied to its bitcoin futures in January

Read More

Latest Coin News

BTC

Copper's weekly BTC price chart for 30 December 2019

ETH

Copper's weekly ETH price chart for 30 December 2019

  • Price analysis: Key bullish trend line forming with support near $131 on the chart ETH/USD chart
  • No bail for Ethereum researcher turned North Korea advisor
  • Google suspends MetaMask‘s Android client; rejects appeal

XRP

Copper's weekly XRP price chart for 30 December 2019

  • Price analysis: Slowly grinding higher and approaching the $0.2000 resistance
  • Ripple plans to expand partnerships with Brazilian banks in 2020
  • Ripple’s XRP sell offs ‘negligible’ says CTO

 

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