Hi Platinum Followers,

Today’s video explores multiple areas from Cashless society issues relating to privacy, surveillance and state controls to economies around the world imposing capital controls in a seemingly interesting move towards more digital currency.

Hows Bitcoin doing – we look at price holdings and possibly how peoples holdings are doing using research from Blockchain Intelligence firm IntoTheBlock.

The world is becoming increasingly digital.
Choosing between making a payment via a scan of a phone or credit card versus the need to carry around a wallet full of cash is obvious. It is not without consequences, however. The convenience of a cashless society comes with the cost of privacy.

China reading between the lines of the state and their plans. If third-party financial institutions must be part of all transactions, then they will be privy to the intimate details of everyone’s financial life. They can also choose to disallow certain transactions and potentially even certain persons from transacting.

Current trouble in the banking world

India – Cashless direction since 2016

Argentina – Argentina has been plagued with a period of high inflation as government elections have shocked the economy. In September of this year, Argentina’s Central Bank instituted capital controls with citizens only able to buy up to $10,000 in US Dollars.

Lebanon – A proposed tax on the messaging app, WhatsApp, sparked nationwide protests reported in Lebanon a month ago. Since the protests began, banks have been closed nearly continuously. Citizens have had to revert to digital forms of payment and limited cash from ATMs.

Malaysia – The Malaysian government is planning to impose cash withdrawal limit of about $6,000.

Malta , known for more lax regulations relative to the rest of Europe, has now put a 10,000 euro restriction on cash transactions.

Australia – Are contemplating increased restrictions on the use of cash by its citizens.

Negative interest rates have now hit the average saver – The first German bank will collect a “depositary charge” of -0.5 per cent on savings accounts with deposits of €1 and above.

India’s – state-run banks just reported over $14 BILLION in fraud from just the last six months alone. Meanwhile, they’re not allowed to deal with any cryptocurrency businesses due to the possibility of fraud.

NEW PRODUCTS entering the space

Bakkt in Discussions to Offer cash-settled Bitcoin Futures in Singapore – The ICE-backed bitcoin futures exchange intends to expand from its current physically-settled offerings to cash-settled futures before 2020.

CME sets date for options product tied to its bitcoin futures – Pending regulatory approval, the regulated derivatives exchange plans to launch the product on January 13, 2020.

CoinMarketCap rolls out new metric ‘Liquidity,’ – The metric looks at factors such as order-book depth changes and distance from mid-price, and will replace “volume” as the default ranking standard.

Swiss stock exchange SIX lists first income-generating crypto product– Trading under the symbol AXTZ, the fund will bake/stake tokens on investors’ behalf and return the income via a dividend.

Chainalysis’ ‘Kryptos’ Tool Is an Inside Look for Outside Investors – The crypto forensics platform will help institutions parse regulatory hazards and build risk assessment models.

Binance Exchange Is First Client for Paxos’ New Dollar Gateway – Regulated blockchain company Paxos has launched a product allowing crypto to exchange customers to more easily execute fiat/stable coin swaps.

References
https://messari.io/screener
https://www.theguardian.com/world/2019/mar/01/china-bans-23m-discredited-citizens-from-buying-travel-tickets-social-credit-system
https://coincenter.org/entry/the-case-for-electronic-cash
https://www.independent.co.uk/life-style/gadgets-and-tech/india-taking-a-step-on-the-road-to-cashless-economy-a7488136.html
https://cointelegraph.com/news/argentinas-central-bank-bans-bitcoin-purchases-with-credit-cards
https://www.dailymail.co.uk/news/article-7587691/Lebanon-sees-violent-protests-government-announces-Whatsapp-tax.html
https://cointelegraph.com/news/malaysia-to-impose-cash-transaction-limit-of-6k-in-2020-report
https://www.abc.net.au/news/2019-10-25/cash-ban-law-under-inqury-post-mp-concerns-on-freedom-breach/11640124
https://currencies.ru/bitcoin-can-rescue-german-savers-from-negative-interest-19112022435696.htm
https://www.coindesk.com/bakkt-in-discussions-to-offer-cash-settled-bitcoin-futures-in-singapore
https://finance.yahoo.com/news/cme-sets-date-options-product-142415262.html?guccounter=1
https://www.your-cryptocurrency-news.com/news/bitcoin-news/top-crypto-tracker-coinmarketcap-rolls-out-a-new-metric-liquidity/
https://coinpath.io/news/swiss-stock-exchange-six-lists-first-income-generating-crypto-product-tied-to-tezos-token/
https://www.coindesk.com/chainalysis-kryptos-tool-is-an-inside-look-for-outside-investors
https://www.coindesk.com/binance-exchange-is-first-client-for-paxos-new-dollar-gateway
https://www.americancryptoassociation.com/2019/11/19/fidelity-digital-asset-services-now-authorized-to-operate-crypto-custody-platform/

Hopefully, you have enjoyed today’s article. Thanks for reading!

Have a fantastic day!

Live from the Platinum Crypto Trading Floor.

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