- The crypto market seems to have recovered, what events happened to drive the market higher?
During the week we have witnessed the breaking of the lateralization of the price of Bitcoin (BTC), but unlike other occasions this was with an upward trend.
In order to understand the market oscillations it is necessary to know what is happening around the crypto ecosystem, however there is a tsunami of different news in the world of cryptocurrencies, it is extremely difficult to keep up with all the news.
But, like every Friday, the Crypto Weekly Summary of Mexico Bitcoin has arrived here so you do not miss a single Satoshi of Information.
New Ethereum update
During this week the Ethereum blockchain network carried out a major update to its code that changed by 180 degrees the way the fees work throughout the ETH network and therefore its own crypto demand and supply curves.
Here are the 4 things you should know about this update.
- The goal of EIP-1559: Make transaction fees more predictable and the network easier to use.
- ETH token burning: Like Binance BNB the burning feature comes to Ethereum
- Predictable transactions: Make transaction fees more predictable, but not lower.
- Upcoming changes to the Ethereum network: If you want to know more about this point, we recommend you read our full content. However, here is a summary, the changes in this update are a small thing compared to ETH 2.0
PayPal will further grow its crypto solutions
From the mouth of its own CEO, Dan Schulman, the new plans to followexpand within the cryptocurrency ecosystem. In which it was announced that the availability for the construction of Defi and even the arrival of the CBDCs would arrive in case the countries of the world continue to successfully travel that route.
“We are working on transfers to third party wallets right now, and we really want to make sure we create a very smooth process for taxes and tax reporting. And so we are really looking at how to integrate that both in trading and buying with cryptocurrencies on our platform.“, communicated the company.
But nevertheless, All these plans are medium-term, except for one, PayPal’s own “super crypto wallet”, which will be available in the coming months and will be available to all customers in the United States.
Which makes us wonder, will PayPal remember Mexico and its customers in Spain and Latin America? Which are the ones that particularly move more cryptocurrencies in the world.
Spain wants to boost crypto and blockchain with its new law
Under “The Digital Transformation Law” Spain plans to include measures to give even more legitimacy to the different technologies that make life within the crypto world, such as blockchain and even Artificial Intelligence.
Arisen from the bosom of the Popular Party (PP), under the idea of “ modernize banking infrastructure and encourage companies to adopt transformative technologies in their day-to-day operations. “”
The Digital Transformation Law would also require banks to use blockchain to manage the mortgage system. In turn, the use of smart contracts for the insurance sector would be added. In addition to tax reductions for companies in the sector.
Israel Joins Wave of Regulatory Pressure Against Cryptocurrencies
Israel was one of the first countries to start its mass vaccination plan, eliminate masks and so on. In addition, it is known for having the highest number of doctors and engineers per capita in the world, however, regarding its vision of cryptocurrencies it seems that it is not very modern.
The Israeli government has launched a bill that seeks investors with more than $ 61,000 in cryptocurrencies to declare their possessions.
Therefore, the anger of Israeli civil society was immediately aroused, since for the Israeli Bitcoin Association (IBA) and other organizations that see the future in digital assets, this measure is an abuse against individual freedoms of free trade. .
Stay informed with the most important news of the crypto and blockchain ecosystem in Bitcoin Mexico.