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Regulation? Acceptance? Bullish Market!

Regulation? Acceptance? Bullish Market!

The cryptocurrency market keeps going up as the United States government delayed the vote on the infraestructure bill. Meanwhile, cryptocurrency acceptance in corporate world continues.

Talking about regulations, the U.S. government is still debating about bill HR 3684, which is looking forward to controlling every single company using or implementing cryptocurrency in many different ways. Also, they want to implement more regulations for every single financial institution or company that offers digital assets looking for more transparency between each institution, their users and the government. Nevertheless, the main promoters for that bill are expecting to receive $28 billion dollars to strengthen tax regulations that could be applied to cryptocurrency transactions. Cryptocurrency in the corporate world has had many great improvements in the past few weeks, and this one was not the exception. Coinbase has announced that all of their users who possess a Coinbase Card will now be able to buy cryptocurrency using Apple Pay. This shows that many links between companies, in this case Apple and Coinbase, have been created in order to make it easier for retailers to have access to cryptocurrency markets. On the other hand, many articles about Mi Store Portugal, a consumer electronics store in Portugal, started accepting cryptocurrency for buying specifically Xiaomi products. This generated a lot of speculation about the acceptance of cryptocurrency transactions from the chinese brand Xiaomi, which is important to mention, it has been the second company with more sales in 2021. However, the chinese company later denied any information related to an acceptance of cryptocurrency payments for their products, stating that Mi Store Portugal was just an authorized distributor that had nothing to do directly with Xiaomi. As you all may know, last weekend it was announced that Lionel Messi, Argentinian footballer and legend of F.C. Barcelona, was leaving the club this season. Even though we are not a sports blog it’s important to talk about this event, because the digital marketplace Ethernity with launch an auction with an NFT collection in tribute to the footballer’s career in F.C. Barcelona, looking forward to simulating what OpenSea did with NFL player Rob Gronkowski, who created a collection that was sold for 1.6 million dollars.

Bitcoin price keeps going up, breaking the $46,000 barrier pushing up a bullish trend that had a small pullback just yesterday. On the other hand, Ethereum had an 8% rally, reaching a price above $3,100 after its latest update. BTC/USD price (1 Day Candlestick Chart)ETH/USD price (1 Day Candlestick Chart) It is very important to be aware of every single information related to regulations and the government response to cryptocurrency related bills. Also, corporate world will have a great short term impact in Crypto markets, so lets be aware analizing upcoming events that could bring great volatility and growth to cryptocurrency.

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