Weekly summary of the cryptocurrency messages 28.01.2022

• The Sec refused another crypto ETF proposal and relied on two more
• Reddit follows Twitter when introducing the NFT-AVATAR support
• The Thai supervisory authorities try to limit the use of crypto when processing payments
• The US financial market supervision examines top cryptoplatt forms for profitable crypto products

The cryptocurrency sector suffers from a wide range of sales to the middle of the week, which was triggered by statements by Fed chairman Jerome Powell on US money policy. Bitcoin used to lose control of the $ 37,000 mark and is currently traded at $ 36,250. Ethereum has lost 3.15 % in the last 24 hours and moves by $ 2,370

The native tokens by Cardano, Solana and Terra are also in the minus that day, with double -digit losses in the last seven days. Terras Luna has the greatest break -in and has fallen by almost 35 % since last Friday.

Here is a look at other top headlines that you may have missed in the last week of January:

authorities say that crypto payments in Thailand should be regulated

On Tuesday, the Thai securities and stock Exchange Commission (SEC), the Bank of Thailand (Bot) and the Ministry of Finance (MOF) have given a joint statement press release revealed that the government would soon regulate the use of crypto as a means of payment for goods and services.

The authorities found that companies and dealers have expanded their mandate to use crypto and are now accepting payments via digital assets. Therefore, the financial stability of the country is endangered, hence the need for " power" to contain the increasing acceptance of the tokens and to avoid possible effects.

The regulatory authorities plan to publish a number of new guidelines for certain digital assets to ensure that financial innovations are supported, but this does not mean systemic risks. The guidelines will take into account the public's contributions and relevant interest groups.

The announcement comes when the Thai SEC is looking for to a consultation papier, in which dealer is suggested prevent the use of digital assets for processing payments. The proposal would also set limits for the transfer of crypto-assets.

The SEC checks the lenders Celsius, Gemini and Voyager Digital for profitable crypto products

The SEC is following the Celsius, Gemini and Voyager loan platforms for the products with a high return that companies offer users for their token deposits.

according to a rel = "nofollow noopener" target = "_ blank" href = "https://www.bloomberg.com/news/articles/2022-01-26/Crypto-firms-network-gemini-face-sec-skrutiny published by Bloomberg On Wednesday, the SEC deals with finding out whether these products are suitable as securities for registration. Referring to initiated, Bloomberg notes that these companies were not accused of offense; Rather, the second only examines.

Traditional financial organizations offer significantly lower interest rates than these products. With interest rates of mostly over 5 %, the offers of return products cannot be compared to the interest rates below 0.1 % that offer banks.

However, there is a catch. In contrast to the return products, the Federal Deposit Insurance Corporation is insured with banks, which explains that investor protection is concerned.

SOCHONDATIONATIONS The SEC could mean possible legal steps or interventions. Last year, Coinbase was forced to stop his lend product after the SEC intervention. The Commission warned the stock exchange that a legal dispute would follow if the product should not be dispensed with.

NFT profile pictures come to Reddit

The Reddit Social Media Plattform is on the way to providing an NFT profile image function. The message came according to Twitter restricted support for a similar function last Thursday.

Reddit spokesman Tim Rathschmidt, who confirmed that the social media company actively examines this initiative, told techcrunch that the function " a small, internal test " and still had to be made accessible to the public. No decision has yet been made about how the NFT support would work or whether it can be introduced.

Nima Owji, an app developer, was the first to discover the NFT test and published it on Twitter last Friday. The Post had a banner with the inscription: " You can now use digital collectibles as your Reddit-Avatar ."

This will not be the first time that Reddit immerses in the world of NFTs. Last year it launched a limited series from NFTS, Cryptosnoos avatare, which are based on Reddits Alien-Maskottchen Snoos. However, the company left it and explained that it had no plans to expand the collection because it was only a first test.

The SEC rejects the Bitcoin Spot ETF from Fidelity Investments from

It looks more likely from day to day that the US Securities and Exchange Commission is still not interested in approving IPO-traded Bitcoin funds. The regulatory authority has retained its argument that it protects traders from risky investments, hence the reluctance to allow direct engagement in crypto.

Yesterday the US regulatory authority rejected an application to allow the Chicago Board Options Exchange (CBOE) to allow the BZX list and trade with shares of the Wise Origin Bitcoin Trust from Fidelity Investments.

according to the newly published Submission is concerned about the risk of fraud and manipulation and refers to its responsibility, to ensure investor protection. The CBOE BZX exchange had failed to set up an " agreement on common monitoring " with the trust in order to set up mechanisms for recognition, examination and prevent fraud and manipulation.

The Fidelity proposal was rejected after two previous extensions based on a decision by the regulatory authority. The investment company has accepted yesterday's decision and confirmed that it will continue the discussions with the SEC via an ETP.

In addition, the financial supervisory authority explained to two separate submissions at the beginning of this week that it would delay a judgment beyond Bitcoin ETF applications arkactien21 and agricultural fund provider Teucrium to trade on the CBOE BZX Exchange or Nyse.

This is not the first six -day extension that the two applications have received since their submission on July 20 and 23. However, since it is the last extension period for the SEC, the two will probably experience their fate before the end of April.

So far, the SEC was only friendly to Bitcoin futures ETFs. When the ETF of Proshares was approved for the first time last November, analysts and industry experts were confident that a spot ETF would soon follow. From today's perspective, investors and crypto enthusiasts have to wait a little longer.