News updates December 25, 2021

1. Pro-Bitcoin U.S. Senator Cynthia Lummis To Present Crypto Regulation Bill In 2022

Pro-bitcoin U.S. Senator Cynthia Lummis is readying to present a comprehensive crypto bill next year

The bill is expected to be introduced in 2022 Bloomberg reports. The bill that is described as “comprehensive” will include a number of issues in it from taxation of digital assets to consumer protection.

2. China’s First-Ever Metaverse Conference Coming, As Chinese Tech Giant ‘Baidu’ Building Its Own Metaverse

Chinese tech giant Baidu could take six years to completely build a metaverse as part of the ‘XiRang’ project.

3. Terra (LUNA) Made New All Time Above $100, Takes 9th Position in Top 10 Surpassing Polkadot (DOT)

Terra (LUNA) has broken the $100 mark, setting a new all-time high. Market capitalization exceeded $36 billion.

According to CoinGecko, the new all-time high was $100.84.

Over the past seven days, LUNA’s price increased by more than 55% and moved up to ninth place in terms of capitalization with a market cap of $36,401,319,454.

4. Turkey’s crypto law is ready for parliament, President Erdoğan confirms

Once implemented, the crypto law will implement a new economic model that can potentially help recover the lira's falling value.

Turkey's President Recep Tayyip Erdoğan has reportedly confirmed the completion of a crypto law draft that will soon be shared with the Parliament for mainstream implementation in the country.

In an effort to counter the falling value of the Turkish lira, President Erdoğan shared plans to implement a new economic model while speaking at a press conference in Istanbul. As reported by local media NTV, Erdoğan said that the cryptocurrency bill is ready, adding

“We will take steps on this issue by sending it to Parliament without delay.

5. Bitcoin battles bears 'on offense' as Christmas delivers a $50K BTC gift

It's not all doom and gloom for Bitcoin bulls this year — gains are still 100% versus last Christmas

Further out, the yearly close was yet to form a major topic of interest, with Bitcoin nonetheless up $21,000 versus the start of 2021.

6. No Spot Bitcoin ETFs for American Investors This Year: SEC Shots Down Two Proposals

Over the decade-long wait for a spot bitcoin ETF is still not over. The US Securities and Exchange Commission shot down two more proposals.

Reflecting on the past year, 2021 has been great for Bitcoin and the cryptocurrency market. It even saw the birth of two BTC futures ETFs in the States, but with just a week remaining until the end of it, American investors might not see spot one.