#25 NEWSLETTER Mr.Advice

#25 NEWSLETTER Mr.Advice

WILL THE EUROPEAN UNION BAN BITCOIN?


Welcome to a new week!

In today’s newsletter, you’ll learn about the bitcoin situation, whether bitcoin will be banned in the EU, how the Russians are circumventing sanctions and how Asia is making sure sanctions are followed.

Enjoy reading!



BTC update

Despite holding support at $37.5K over the weekend, Bitcoin remains in a narrow trading range. Strong resistance in the $45.5-46K range that could limit additional upside in the short term. 

The declining 100-day moving average keeps the four-month downtrend unchanged. However, the current sideways trading (accumulation, meaning the price neither significantly rises nor falls) could lead to volatile price swings over the next few weeks.


Crypto around the world


European Union


During today’s meeting of the European Parliament’s economic and monetary affairs committee, a vote was held on a provision that could effectively ban Bitcoin across the European Union. The provision was added last week to the EU’s comprehensive regulatory package for digital assets (MiCA) and aimed to restrict the use of cryptocurrencies powered by energy-intensive computing, known as proof-of-work, in the 27 EU member states. The vote result was 30-23 in favour of removing this provision from the draft, which is great news for cryptocurrency advocates.

Source: https://www.coindesk.com


United Arab Emirates


According to company executives and financial sources, cryptocurrency companies in the Emirates are being inundated with requests to liquidate billions of dollars worth of cryptocurrencies as Russians seek a safe place for their assets. Some customers want to use Emirati companies to turn crypto into hard currency, while others use cryptocurrencies to invest in Emirati real estate. The Emirates has not complied with sanctions imposed on Russia by Western countries, and its central bank has not issued any guidelines on these activities. 

Source: https://www.moneycontrol.com


Japan


Japan calls on cryptocurrency companies to comply with sanctions against Russia and demands that they do not process cryptocurrency transactions involving individuals or other entities in Russia and Belarus. Japan’s Financial Services Agency warns that any cryptocurrency activity is subject to prison sentences of up to three years or fines of up to 1 million yen ($8500).

Source: https://cointelegraph.com 


Singapore


Singapore is also complying with sanctions imposed on Russia by banning transactions with Russian banks at all local financial institutions and prohibiting fundraising for the Russian government and related entities. The sanctions cover cryptocurrency transactions, NFT and other digital assets. 

Source: https://cointelegraph.com 


Thailand


Thailand, on the other hand, proposes to allow Russians stuck in the country due to sanctions to pay with cryptocurrencies, as other payment methods are blocked for them. The methods in question are Visa and Mastercard.

Phuket Tourist Association president Bhummikitti Ruktaengam said that “cryptocurrencies would serve as a reserve for times when transactions could not be processed”.

Source: https://cointelegraph.com 


Ukraine


  • Ukraine confirms that it has already spent more than $100 million it received in crypto in response to the Russian invasion to purchase 5,500 bulletproof vests, 500 ballistic plates for the waistcoats, 500 helmets, 410,000 dry provisions, 3125 thermal imaging and optical devices, 3427 medicines and 60 walkie-talkies. 
  • Ukraine’s Deputy Minister for Digital Transformation – Alex Bornyakov – confirmed that the government will create a collection of non-transferable tokens (NFTs) as a historical immortalisation of the war. Bornyakov said the NFT collection would be “like a museum of the Russian-Ukrainian war. We want to tell the world about it in the form of NFTs”. Each token will carry a work of art, representing the story from a trusted source.

Source: https://cryptonews.com


What’s up in Mr.Advice?

  • If you want to understand what cryptocurrencies are, how the market works, what to look for in the charts then GOLDEN COURSE by CryptoAaron is for you. You can buy GOLDEN COURSE HERE.
  • Live analysis and regular updates on Bitcoin and other cryptocurrencies are available in the Golden Keys product HERE. Daily several updates on the situation, with conditions given for each scenario!
  • Zoom calendar for the new week:

Tuesday             19:00         Market analysis

Wednesday        19:00         Strategy elements

Thursday           11:30         Market analysis + update

Have a good week!

Mr.Advice TEAM


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