News updates December 22, 2021
1. USA: Credit unions bank on sentiment to seek approval to hold crypto-assets
Bloomberg, in its latest report, has revealed that credit unions are seeking approval to hold crypto-assets directly.
The development follows last week’s announcement by the National Credit Union Administration (NCUA) to allow federally insured credit unions (FICUs) to partner with third-party digital asset service providers.
2. UK’s advertising watchdog closes in on Arsenal football club for misleading crypto ads
The latest update in the UK crypto crackdown saw the nation’s advertising watchdog, the Advertising Standards Authority (ASA) rule against two promotions of Arsenal’s fan tokens ($AFC). Today, the ASA noted that upon investigation of $AFC’s advertisements dated to August, it was determined that Arsenal had broken UK’s advertising law. ASA claimed that the fan token ads were“trivialised investment in cryptoassets” and that they were “misleading” in failing to highlight investment risk.
3. Central Bank of Argentina Scrutinizes Companies Offering ‘Extraordinary Returns’ on Crypto Asset Investments – Bitcoin News
The Central Bank of Argentina has announced it is making inquiries regarding cryptocurrency investment companies. Specifically, the bank stated they are investigating companies that are offering extraordinary returns with cryptocurrency investments, which are not reasonable. These companies could be operating as Ponzi schemes, according to the bank, and it is currently examining the possibility of taking legal action against them.
4. Switzerland's SEBA Bank wants to use Aave's institutional DeFi platform
A digital asset-focused bank in Switzerland is seeking to become whitelisted on Arc, the institutional platform developed by the team behind DeFi lending protocol Aave.
In a governance post shared Tuesday, a representative from the bank said that it has sought the white-listing in order to enable its clientele to more broadly access the Aave platform, stating that "[d]ue to various regulatory restrictions in their jurisdictions, SEBA’s institutional clientele has not been able deploy liquidities at large scale in Aave until now.
5. As LUNA Hits New ATH, Mike Novogratz Expects It to Hit $100 Soon, Choosing Tattoo for This Milestone
Expecting Terra Luna to hit $100 in the last week of the year (with the coin sitting at almost $95 at present, as per CoinMarketCap), Novo decides to get on with the LUNA tattoo he has wanted to get since spring.
Two hours ago, Terra Luna hit a new all-time high over $95.
6. Twitter Founder Jack Dorsey Predicts Bitcoin (BTC) Will Replace U.S. Dollar.
Former Twitter CEO and Bitcoin investor, Jack Dorsey replied to the Grammy Award-winning Hollywood rapper, Cardi B’s tweet where she questioned whether Crypto has the potential to replace the US dollar. Dorsey took this opportunity to reiterate Bitcoin’s dominance, asserting that the OG crypto, “Bitcoin will” in fact replace the green bills.
