🔴 Is This The Final Stage of Crypto Adoption? | This Week in Crypto – Jan 11, 2021

A special thanks to eToro, the world’s leading social trading platform for supporting us. Connect with other traders
and copy their moves automatically. Want to know more? Check out the link in the description below. Hi, I’m Nate Martin
from 99Bitcoins.com, and here’s what’s happened
this week in crypto. Bitcoin’s price has surged
to above a whopping $40,000, reaching a new all-time high. The recent price increase has lifted the total value
of the cryptocurrency industry, to over $1 trillion
for the first time in history.

According to data released by Kraken, this is largely thanks to whales
getting their hands on more bitcoin. According to a letter published by the Office of the Comptroller
of the Currency, US banks now have permission
to utilize blockchains and stablecoins. A national bank
or federal thrift association can now run nodes for validating, storing,
and recording transactions on public blockchain networks
and use stablecoins for payments. Bitcoin futures trading platform, Bakkt, is reportedly going public
at a $2 billion valuation. The company was launched
by the Intercontinental Exchange, which also owns the New York Stock Exchange. Reports of a potential Bakkt IPO come just a few weeks after Coinbase
announced similar plans. On January 6th, the United Kingdom’s
Financial Conduct Authority began enforcing a ban
on all cryptocurrency derivatives and crypto-based exchange-traded notes. The FCA has stated
that these types of crypto products pose risks to retail investors
due to their instability and price swings.

Singapore passed a new regulation, which requires all companies
dealing in cryptocurrency to apply for licenses
to remain in business in the country. The move is stated to place limits
on the amount of financial crime that stems from Singapore’s crypto base. That’s what’s happened
this week in crypto. See you next week. If you've enjoyed this video,
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