It has been a slow and steady strat for BTC this year as it keeps within the US$40,000 region; however, as prices are stabilising, some traders remain cautious. With more countries looking at the prospects of accepting BTC as legal tender, Estonia has denied claims that it intends on banning crypto and has “reassured crypto investors the government will not ban digital assets as it moves to tighten money laundering rules.” The UK parliament has launched the All Party Parliamentary Group (APPG) signalling that crypto has finally made it to the UK parliament alongside other alternative finance and fitech projects. The key focus it seems of the group is to “ensure that we have an appropriate regulatory framework in the UK which supports innovation and guarantees that the UK remains an attractive destination for innovative firms to set up and grow.”

Chainalysis has released an interesting report revealing the all-time low of illicit crypto currency transactions due to the overall growth of legitimate cryptocurrency usage. Despite an increasing number of traditional investors moving towards the crypto space due to its transparency and high transaction speed, India’s central bank, the Reserve Bank of India (RBI) has issued another warning against the instability of decentralized finance and the risks it poses against the country’s financial stability. Amongst others the RBI has stressed that: “[t]he proliferation of private cryptocurrencies across the globe has sensitized regulators and governments to the associated risks” and “[n]ew illicit financing typologies continue to emerge, including the increasing use of virtual-to-virtual layering schemes that attempt to further muddy transactions in a comparatively easy, cheap and anonymous manner.” These warnings that add to regulatory uncertainty, come after the Indian government has again delayed the finalizing of its crypto Bill.