Quote of the week:
“After a quiet July, we’re seeing a return of retail investors. Market wisdom draws a line between the retreat of Chinese bitcoin miners and the recentering of trading activity in the U.S. and Europe.” – Caroline Bowler, CEO of Australian crypto exchange BTC Markets.
Crypto Adoption Continues: AMC Entertainment chairman-CEO Adam Aron announced that the company will be technologically equipped to accept Bitcoin for U.S. tickets and concessions by year-end. Source: https://finance.yahoo.com/news/amc-entertainment-accept-bitcoin-u-215746999.html
Venmo and Crypto: Venmo has increased its crypto support and adoption by enabling credit cardholders to convert their cash back rewards into four digital assets listed on the platform. Venmo users can now buy crypto with cashback rewards. Source: https://cointelegraph.com/news/venmo-enables-users-to-automatically-buy-crypto-with-cash-back-rewards
United States Legislation: Lawmakers are fighting to clear up the language in a bill that defines brokers in the crypto industry. The infrastructure bill has passed the United States Senate, with limited crypto clarification. Senator Toomey comments, “This legislation imposes a badly flawed, and in some cases unworkable, cryptocurrency tax reporting mandate that threatens future technological innovation.” Source: https://cointelegraph.com/news/infrastructure-bill-passes-us-senate-without-clarification-on-crypto
International Regulation: A new cryptocurrency-related bill in Ukraine will now allow payments in cryptocurrencies, although Ukraine does not recognize cryptocurrency as a legal tender. Source: https://cointelegraph.com/news/new-bill-in-ukraine-to-allow-payments-in-cryptocurrency-says-official
Bitcoin Update: Bitcoin reached a three-month high this week and rose to a price of $46,735 on August 11. Bitcoin then fell to $45,000 on August 12, still up more than 50% since crashing in the second half of July. Source:
And, that’s a wrap!