Two interesting news that happened this week.
Hello friends, to say goodbye to this weekend, I wanted to share with you a couple of news that I found interesting. Like this one, Hong Kong assures that they are now ready to accept ETF applications, taking a faster step than the United States, where every day it falls further behind in the race for blockchain and cryptocurrencies.
You already know how hard it is to get ETFs approved by the Securities and Exchange Commission with Gary Gensler at the head who gives so much thought to the matter and looking at the news from Hong Kong it seems that in other countries it is not so complicated to approve it, The Hong Kong securities and futures commission published two circulars with the requirements to be able to present cryptocurrency spot ETFs, this is undoubtedly very good news.
Can you imagine the amount of money that could enter the market from Hong Kong is truly crazy, unlike the repression in mainland China, Hong Kong has practically laid out a red carpet for us to welcome crypto companies throughout the year, even encouraging banks to work with them.
So regulators were evaluating crypto spot ETFs as they welcome proposals that use innovative technology capable of increasing efficiency and customer experience.
The following news may be curious to a few in a conversation with Cathie Wood of ark invest, Elon musk mentioned that he hardly thinks about cryptocurrencies anymore in response to the question about the potential impact of bitcoin on the financial system. For Elon musk money is just a database for resource allocation and he believes that Fiat currency as it is is really good for that as long as it is rules based and there is not much abuse by the government.
With the pumps and dumps that he generates in some cryptos in particular, I think that Musk thinks a lot about them and surely he must have made very good money manipulating dogecoin, just to give an example. But hey, everyone has divided opinions about Elon Musk towards crypto.
Speaking of Cathie Wood from Ark Invest, she has been selling Coinbase shares like crazy for a long time. At first, she herself said that it was about balancing her portfolio, but it seems to me that they are already going a bit too far because they don't let To balance it in the last few hours, Ark once again got rid of more Coinbase shares so far in December, they have already sold more than 200 million dollars. One of the companies that has spoken out most in favor of cryptocurrencies, selling and selling, is not very good sign.
Meanwhile in China, the Ministry of Industry said it plans to formulate strategy documents to boost the development of decentralized and nfts applications as the country continues to adopt blockchain technology. Beyond cryptocurrencies being banned, what would come first would be related pilots. with distributed digital identity to explore web 3 digital identity authentication and management earlier this year.
Those who follow the news closely there are already several local governments that have committed to developing the Metaverse Industry. grow its metaverse industry until 2025 and if there is something that we can highlight that the crypto ecosystem never stops, it is development and in 2024 it will bring many new features, among them.
| Article related to the publication the source is in Spanish so I recommend using Google translator so that you can read it in your native language. |
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