A report from Bloomberg states that UBS AG,
"is in the early stages of planning to offer wealthy customers digital currency investments."
Ethereum balances on exchanges dropped to their lowest levels since June 2019.
Nebraska may allow banks to offer crypto services to clients from now on, after a bill introduced in January by Mike Flood passed the first of three voting rounds in the legislature.
Elon Musk tweeted a poll asking whether or not Tesla should accept Doge for cars.
A survey conducted by NYDIG revealed that 46 million American citizens own Bitcoin, roughly 22% of the country's population.
Payments Service MoneyGram announced it will soon allow US-based customers to purchase Bitcoin through their services.
JP Morgan Chase, Bank ABC, and the government of Bahrain will be working on a digital currency settlement pilot. The Central Bank of Bahrain's governor Rasheed Al-Maraj stated:
“Through this pilot with JPMorgan and Bank ABC, we aspire to address the inefficiencies and pain-points which exist today in the traditional cross-border payments arena."
The SEC launched an investigation into global crypto exchange Binance.
Digivault, Diginex's crypto custody division and EQUOS's sister company and preferred asset custodian, became the first stand-alone custodian to receive approval from the UK's FCA. CEO Robert Cooper said:
"The FCA AML approval is huge news not only for Digivault but also the sector as a whole because it means businesses are now moving from the temporary register to the full approval. This sets a precedent that the regulators support for this new asset class is indeed there, and is an enabler to drive more institutional flow."
For more information on these stories, visit: Tom Brady: https://twitter.com/TomBrady/status/1391746521381617667 UBS: https://www.bnnbloomberg.ca/ubs-exploring-ways-to-offer-crypto-investments-to-rich-clients-1.1601595 Ether: https://twitter.com/glassnodealerts/status/1391885567143649284?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1391885567143649284%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fether-balances-on-centralized-exchanges-fall-to-lowest-level-since-june-2019 Nebraska: https://legiscan.com/NE/bill/LB649/2021 Elon: https://twitter.com/elonmusk/status/1392030108274159619?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1392030108274159619%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Felon-musk-asks-twitter-whether-tesla-should-accept-dogecoin-for-cars NYDIG: https://cointelegraph.com/news/do-46-million-americans-really-own-crypto MoneyGram: https://www.prnewswire.com/news-releases/moneygram-and-coinme-partner-to-expand-access-to-bitcoin-301289312.html Bahrain: https://www.cbb.gov.bh/media-center/central-bank-of-bahrain-bank-abc-and-j-p-morgan-announce-digital-currency-settlement-collaboration/ Binance: https://www.bloomberg.com/news/articles/2021-05-13/binance-probed-by-u-s-as-money-laundering-tax-sleuths-bore-in Digivault: https://cointelegraph.com/news/diginex-s-crypto-custody-arm-receives-green-light-from-uk-financial-watchdog
Traditional markets have risen amid fears that inflation is back and interest rates will have to rise. Bitcoin (BTC) is also down. Is there a connection?