Hey Guys,
I hope your first working day of 2022 is going as well as mine is.
To those of you still on vacation, know that you have no excuse not to watch today's weekly crypto review!
There weren't too many headlines that caught my eye last week, but the ones that did weren't entirely positive to say the least.
This might have something to do with the fact releasing negative news when nobody is looking is standard practice in traditional media. Too bad I'm always on the lookout 😉
The worst of these headlines was probably Estonia's upcoming crackdown on crypto wallets and DeFi protocols.
If the legislation currently being proposed there is passed, it will basically be illegal to hold crypto anywhere but with a third party, which defeats the whole purpose of cryptocurrency.
What makes this news so concerning is that Estonia will probably the first of many countries to implement these kinds of regulations in 2022.
The entity pushing for these regulations is of course the Financial Action Task Force or FATF which doesn't believe NFTs count as digital assets.
This is certainly good news because one of the most positive headlines last week was the continued rally among NFT collections, especially the Bored Ape Yacht club.
On that note, I think it's possible we could see decoupling between NFTs and cryptocurrencies in 2022, maybe even just because they're immune from the same kinds of crackdowns (for now, anyways).
It's also nice to see that whales have been buying the dip on BTC and other cryptocurrencies. This suggests the bull market is far from over.
You can get my take on what comes next with a few altcoins during my weekly crypto market forecast at the end.
Be sure to stick around until then!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Microstrategy Buys More BTC: https://cointelegraph.com/news/micros…
► Eminem Buys Bored Ape: https://decrypt.co/89571/eminem-buys-…
► Opensea Freezes NFTs: https://cointelegraph.com/news/opense…
► OpenDAO Airdrop Claim: https://www.theopendao.com/
► GasDAO Airdrop Explained: https://decrypt.co/89470/gas-fees-eth…
► Aave Real World Assets: https://decrypt.co/89418/yield-on-rea…
► Estonia To Ban Crypto Wallets And DeFi: https://cointelegraph.com/news/estoni…
► South Korean Exchanges To Require Wallet KYC: https://cointelegraph.com/news/south-…
► Mexico Retail CBDC Plans: https://www.aljazeera.com/economy/202…
► Switzerland Wholesale CBDC Plans: https://www.coindesk.com/policy/2021/…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
