Crypto Daily Roundup 16 Dec: Crypto Weekend Roller Coaster Journey

Cryptocurrencies experiencing the highest losses in the last 24 hours

TOP 5 Loser Coins

Crypto News Key Highlights:

• China Mobile introduces LinkNFT, an NFT marketplace, aiming to propel Hong Kong into the Web3.0 era. LinkNFT offers digital asset NFT casting services, including over 30 NFTs in collaboration with diverse sectors. The initiative seeks to establish a unified digital identity, affirm personal data value, and foster a Web3.0 digital life for Hong Kong residents.

• Grayscale addresses inaccurate reports on tax consequences for its spot Bitcoin ETF, clarifying that retail investors in the Grayscale Bitcoin Trust won't face tax implications during cash redemptions. Grayscale is actively seeking regulatory approvals for its ETF uplisting. SEC meetings indicate ongoing discussions regarding Grayscale's spot Bitcoin ETF application.

• Taiwanese residents are cautioned against using cryptocurrency betting platforms for the upcoming presidential election on January 13, 2024. Some individuals have been summoned for investigation as participating in election-related gambling violates local laws, potentially leading to imprisonment or fines. Polymarket, previously facing regulatory challenges in the U.S., is involved.

• Traditional financial firms, like Deutsche Bank's DWS and Saudi Aramco, are entering the digital asset space. M&G invests $20 million in the UK's first regulated Bitcoin derivatives exchange. Iota Foundation integrates with Fireblocks for real-world asset tokenization. S&P Global rates stablecoins, with GUSD, USDP, and USDC receiving the highest scores. Worldcoin collaborates with Shopify, Mercado Libre, Reddit, and Telegram for identity verification. Crypto sees increased interest from institutional investors in 2024.

• SEC discusses spot Bitcoin ETF with BlackRock. Meetings address concerns on market manipulation and investor protections. Decision expected in January. Approval opens Bitcoin to wider investors; denial may lead to appeals. Spot ETF holds actual Bitcoin, reflecting real-time market price.

• WorldCoin CEO Sam Altman emphasizes the importance of human identity data in the realm of AI, citing the need to distinguish humans in an increasingly AI-dominated world. WorldCoin's project involves iris scanning via 'Orb' devices to create a global identity network, aiming to raise $50 million. Altman highlights the growing significance of identifying unique humans as AI becomes more integral to daily life. The WorldCoin (WLD) price experienced volatility amid Altman's recent leadership changes at OpenAI.

• IMF Managing Director Kristalina Georgieva advocates for global crypto regulations and infrastructure to prevent potential risks to macro-financial stability. Emphasizing the need for rules without stifling innovation, she addresses concerns like weakened monetary policy and fiscal disruption due to widespread cryptocurrency adoption.

Also read - 24 Crypto, 15 Dec: Prices Soar and Plummet in Weekend Market Madness