31 December

“Corey Frayer, who spent a decade working as a senior adviser to members of Congress before becoming a senior staffer on the U.S. Senate Committee on Banking, Housing and Urban Affairs under committee chairman Sen. Sherrod Brown (D-Ohio), has been tapped for the role.

Gensler’s appointment of a crypto-focused senior adviser is in line with his stated focus on establishing a regulatory framework for crypto, as well as a signal that the SEC could step up its efforts to regulate the industry in 2022.

According to a source familiar with the Senate Banking Committee, Frayer spearheaded crypto policy for Brown – who has been outspoken about his concerns about the risks cryptocurrencies could pose to investors, calling blockchain a ‘shady diffuse network of online funny money.’

See Also: SEC Commissioner Hester Peirce Says Washington Doesn’t Need a New Crypto Regulator
See Also: One Big Regulatory Question Holds Advisors Back From Crypto

“According to Rekt Capital, ‘BTC has turned the February, August and September resistance into new support this month.’ Lifchitz pointed to $52,000 as “the main hurdle.”

If BTC is able to reclaim ~$48500 as support by the end of the week then BTC could once again revisit ~$52000 resistance. Should that resistance get overthrown, the next upside stops are the $60,000 region then $70,000 ATH.

If bears manage to break below support at $46,000 and complete the large head and shoulder pattern forming on the BTC chart, Lifchitz suggested that ‘the next stop could be ultimately down to $30,000‘ but stated that ‘we’re still far from that and too obvious technical patterns tend to not complete as expected.'”

See Also: Bitcoin Investors Protect Against Even Lower Prices Ahead of New Year

“On Wednesday, two Bored Ape Yacht Club (BAYC) parody projects gained momentum on crypto Twitter, igniting plagiarism accusations, several trading bans and a robust supply of ape-themed memes. The two collections – both named PHAYC, a play on “fake” and “BAYC” – appear to be identical copies of the original BAYC collection, but with each ape’s profile mirrored to the opposite side, or “left-facing”.

Both PHAYC projects sold out in several hours, but were subsequently banned on OpenSea for allegedly violating the platform’s intellectual-property policies. @phunkyApeYC is currently live on Mintable, while @phaycbot is available on Rarible.

I think the project is a satirical take on the current state of NFTs and members of the NFT community who might be taking the NFT market a little too seriously.

It is not uncommon for successful NFT projects to be imitated through what are essentially copy-and-paste jobs, but whether those projects have violated an unspoken “code of ethics” is still a point of contention in the NFT community.”

See Also: Gamers Rally Behind ‘More Than Gamers’ NFT Project and Its Metaverse Roadmap

“On Wednesday, Coinone announced that it would reject deposits from unverified private wallets starting Jan. 24, 2022, to reduce the risk of money laundering. All Korean exchanges, including Upbit, Bithumb, Korbit and 20 others, are expected to have implemented similar or identical measures as Coinone by or before March 25.

Globally, South Korea’s exchanges are the outliers in complying with the rule. As of now, there are no other major crypto spot exchanges that require users to verify their private wallets.”

“The Mexican government tweeted that it considers these new technologies and payment infrastructure of “utmost importance” to advance financial inclusion.

We don’t want to be absent from these technological advances.

Mexico joins Brazil and Peru as Latin American countries working on the development of CBDCs.”