Mt.Gox moves 47k Bitcoin to new wallet address

Defunct crypto exchange Mt. Gox has transferred over 47,000 Bitcoin (BTC) to two new addresses. According to Arkham Intelligence, two significant transactions occurred on July 23: one for approximately 42,587.49 BTC worth $2.82 billion, and another for 5,110.16 BTC directed to its cold storage.

These moves are part of Mt. Gox's plan to reimburse creditors for $9 billion in Bitcoin. Prior to this, Mt. Gox conducted smaller transfers on July 22 as tests. Bitstamp, acting as a trustee, received 2,238.87 BTC worth $150 million on July 23, indicating preparations for fund distribution alongside other platforms like Kraken, Bitbank, and SBI VC Trade. Japanese platforms had previously distributed funds upon receipt, with BitBank users confirming payouts on July 4.

Central Bank of Bahamas CBDC Integrations

To promote the adoption of its central bank digital currency (CBDC), the "Sand Dollar," the Bahamas has set a two-year timeline to integrate it into commercial bank operations. John Rolle, the Governor of the Central Bank of The Bahamas, announced plans to establish the necessary regulations and ensure that all commercial banks provide access to the CBDC for their clients. 

This initiative aims to enhance the usability and accessibility of the Sand Dollar, encouraging broader use among the Bahamian population.

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Malaysia Digital Bank License

With Hong Kong and Singapore having accelerated the issuance of their digital banks licenses, is Malaysia’s foray into the space a bit slow?

Based on this week’s announcement by Bank Negara, digital bank licenses will be issued only by the first quarter of 2022. The concern is would the Malaysian digital bank landscape have lost ground by then? Globally, digital banks are already in advance stages of operations.

To be sure, setting the rules right on the onset for digital banking is of utmost importance. It involves the main artery of the economy, namely the banking system. Perhaps this is why Malaysia’s central bank is not rushing the matter.

On Thursday, Bank Negara issued a policy document on licensing framework for digital banks following a six-month public consultation.

Bank Negara said the licensing framework for digital banks aims to enable the innovative application of technology to uplift the financial well-being of individuals and businesses and foster sustainable growth.

This includes expanding meaningful access to and promoting responsible usage of suitable financial solutions to the unserved and underserved segments.

The framework adopts a balanced approach to enable admission of digital banks with strong value propositions while safeguarding the integrity and stability of the financial system, as well as depositors’ interests.

To achieve these outcomes, a simplified regulatory framework will be applied to digital banks during the initial stage of operations, commensurate with an asset threshold of not more than RM3bil for three to five years.

Submission of applications to conduct digital banking business or Islamic digital banking business shall be made to the Bank no later than June 30,2021.

Up to five licenses may be issued to qualified applicants. Notification on the grant of license will be made by the first quarter of 2022, Bank Negara said.

It does seem that the central bank is on the right track with ensuring only the most qualified applicants get to run digital banks.

That said, one wonders how the digital banking space will grow globally and whether Malaysian licenses could have lost any ground by 2022.

Google’s YouTube Goes To War With Bitcoin And Crypto

Google's relationship with bitcoin and cryptocurrency has long been fraught but it has apparently just taken a turn for the worse.

The search giant has previously banned bitcoin and cryptocurrency ads, deciding to allow them again in September last year after three-month block.

Now, Google has decided to remove hundreds of bitcoin and cryptocurrency videos from its video-sharing site YouTube in what's being called a "crypto-purge"—leaving many who make bitcoin and cryptocurrency-related videos feeling unfairly targeted by the search giant.

Google's YouTube video-sharing platform is the world's biggest video website, with 300 hours of ... [+] content on everything, including bitcoin and cryptocurrency, uploaded every minute.

The YouTube crypto-purge appears to only be targeting smaller channels and publishers, with crypto-related videos from the likes of bitcoin and crypto news outlet CoinTelegraph and U.S. business news publisher CNBC escaping the cull.

One YouTuber Chris Dunn, who has some 210,000 subscribers on the platform, asked YouTube for an explanation via Twitter.

"YouTube just removed most of my crypto videos citing 'harmful or dangerous content' and 'sale of regulated goods,'" Dunn wrote, adding he's been making videos on the platform for 10 years and built up 200,000 subs and 7 million views.

The number of videos targeted by Google's YouTube is well into the hundreds and "growing fast."

Some in the bitcoin and cryptocurrency industry have vowed to challenge the decision.

"YouTube deleting all Crypto content is a massive blow to the industry," Ran NeuNer, host of the CryptoTrader show on CNBC Africa, said via Twitter.

"YouTube is the go to place for educational video and the first port of call for new people entering the ecosystem to learn the basics. As a community we should challenge this formally."

Meanwhile, others have been searching for a reason for the purge, finding YouTube's citing of "harmful and dangerous content" unsatisfactory.

"So far Alphabet [Google's parent company] has made no attempt to explain the reasons for the culling," Mati Greenspan, the founder of research group Quantum Economics, wrote in a note.

"The first instinct that many had was that perhaps they're trying to protect the consumer from scams. However, this wouldn't make much sense given that Google and Facebook have already had a crypto advertising ban last year that has long since been reversed, likely due to regulatory clarity in the U.S. where it was found that bitcoin and ethereum are neither securities nor scams."

Greenspan added he is now "officially boycotting YouTube" due to the crypto-purge.

Google, along with the likes of social media giant Facebook, has been increasingly looking to financial services to bolster advertisement revenue in recent years, with public opinion moving against ad-funded business models.

Last month, Google, in partnership with U.S. banking giant Citigroup, said it's planning to launch its own fully-fledged "smart checking" bank accounts via Google Pay–piling pressure on bitcoin developers to improve user experience and adoption or face redundancy.

Meanwhile, the bitcoin price has climbed this year, largely due to interest in bitcoin and crypto from the world's biggest technology companies–with others, including the likes of iPhone-maker Apple and online retailer Amazon, branching out into traditional financial services.

The bitcoin price has stagnated recently after surging higher earlier in the year though it remains ... [+] around double where it began 2019.

What Happen To Bitcoin Price Today?

The price of Bitcoin were sharply going down today as more trader taken a quick look into the future of Bitcoin.

Some technical pundits has predicted that the price will be lower than expected as more miner will suffer on Bitcoin Halving. 

Only the big player will surely survive but for how long? No one knows.

Towards Second Bitcoin Halving

The price is rising and gearing to momentum. Could Bitcoin go beyond USD$1000 no one knows. But everyone are targetting that price.