Crypto Weekly: How Liz Truss boosted bitcoin
STORY: From how turmoil in the UK gave bitcoin a boost, to why South Africa is getting tougher on crypto traders, these are the week’s big stories in the world of virtual money.
Liz Truss may have given bitcoin an accidental boost.
As the UK leader’s government unravelled in London, sterling plunged.
Now figures show that some investors were hedging with bitcoin.
Source: CryptoCompare
Trading between the pound and the e-token jumped 233% in September.
Experts say it’s an unprecedented surge for a developed-market currency.
South Africa is tightening up crypto regulation to avoid international censure.
All companies operating in the sector will now need to apply for a license.
Other regulatory changes are meant to help tackle scams and protect consumers.
The moves could also help South Africa avoid being put on a so-called “grey list” by global financial watchdogs, who worry about lax controls over crypto.
And more banks are getting the crypto bug.
Brazil’s Nubank says it will release its own cryptocurrency as part of a customer rewards program.
Meanwhile, German online bank N26 is beginning to allow some customers to trade crypto.
The new service will debut in Austria before expanding to other places, and will eventually cover almost 200 tokens.
