Bitcoin in the News - March 2022
- 8 March 2022
- Faris Mali
Bitcoin news and developments.
7 March 2022
1. Charles Schwab has filed to launch a Bitcoin ETF. Schwabb manages over $7 Trillion worldwide and stated that one in six of its clients expressed an interest in investing in cryptocurrency.
2. ‘Anonymous’, the international hacker collective had reportedly offered Russian soldiers one bitcoin per tank surrendered. This was part of Anonymous’ declared cyber war against Russia and in support of Ukraine; they proclaimed to have infiltrated over 300 Russian targets.
3. As kinetic war between Russia and Ukraine commenced, there was a run on the banks in Russia as people attempted to withdraw their savings, and Ukrainian crypto exchange Kuna saw a 200% increase in trading. Over US$50 million worth of bitcoin has been raided to support Ukraine.
4. In response to the Emergencies Act in Canada, and the announcement that Anti-Money Laundering rules would be extend to digital assets, CEO’s of the two largest exchanges, Coinbase and Kraken, encouraged customers to get their bitcoins into self-custody, such as hardware wallets. Leaving private keys (bitcoins or satoshis) on exchanges allows for government intervention and confiscation. Though Kraken and Coinbase announced they would comply with government requests it appeared to be the retro-active policy of the Emergencies Act the CEO's took issue with.
5. The United Arab Emirates continues to expand its adoption rate of the cryptocurrency industry. Binance, the world’s largest digital exchange, announced it was setting up a much larger presence in Dubai, and the Securities and Commodities Authority has provided almost 30 new licenses for Virtual Asset Service Providers.