By Shikha Singh
Bitcoin Records Best September in a Decade.
September, known as ‘Slumptember’ for its historically dismal Bitcoin (BTC) performance, had a surprising reversal, with BTC gaining 7.75%, exceeding its 2016 record of 6%.
Bitcoin rose 10% to $63,830 from $57,750 at the start of September, according to CoinGecko.
Nine of the previous 11 Octobers have been bullish for BTC, while the last five years have seen considerable increases even during down markets.
Analysts expect BTC to breach barriers and surpass $70,000 in October despite a 1.4% drop on September 30. Despite recent market swings, most indicators indicate optimistic market sentiment.
Crypto exchange Gemini to Close All Customer Accounts in Canada.
Gemini, the Winklevoss twins’ crypto exchange, will shut all Canadian accounts by December 31, 2024.
The site gave Canadian consumers 90 days to withdraw their assets via email.
Crypto exchanges must sign pre-registration agreements to operate in Canada under new banking legislation.
In April, Gemini pre-registered under these new restrictions, identifying Canada as a key market for its worldwide development.
Japan’s Next Prime Minister Announces Pro-Blockchain and NFT Policy Plans.
Japan’s next Prime Minister and LDP leader, Shigeru Ishiba, has proposed pro-blockchain and NFT legislation to strengthen regional economies.
He will nominate Masaaki Taira, chairman of the LDP’s web3 team, as Minister of Digital Affairs.
Ishiba thinks blockchain and NFTs can put local food and tourist costs on par with global norms.
Crypto industry companies support using NFTs and decentralized organizations to regenerate rural regions.
Ripple Receives Approval For Further Expansion in the Middle East.
The Dubai Financial Services Authority (DFSA) has granted Ripple in-principle clearance to become the first blockchain-enabled payment services provider in the DIFC.
Ripple’s UAE expansion boosts its worldwide position as a regulated organization and enables frictionless cross-border payment solutions.
The UAE will see Ripple’s digital asset infrastructure expand to provide quicker, cheaper payments while complying with regulations.
New Ohio Bill Would Allow Citizens To Pay State Taxes With Crypto.
Ohio Senator Niraj Antani sponsored a measure to let people pay state and municipal taxes using Bitcoin.
Antani promotes innovation, while some worry about wallet address privacy.
The law must pass the legislature after committee scrutiny before reaching the governor. It expires in December if not passed.
Colorado, Florida, and others are exploring similar steps.
Ripple Unlocks 1 bn XRP From Escrow in October as Price Slumps 4.26%.
In three transactions, Ripple released 1 billion XRP coins valued $621.78 million from escrow. The corporation usually re-locks 800 million XRP following such releases, like last month. Retained 200 million XRP may be used to pay $125 million SEC penalties.
XRP is trading at $0.6203, down 4.26% in 24 hours but up over the previous week and month. The latest unlocks likely didn’t affect XRP’s performance since the crypto market corrected.
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