Investor sentiment turned bullish post September first week for the broader market though price actions remained restricted. Trade volumes across exchanges dipped in anticipation of a clear breakout on either side. News from the crypto world continued to lean towards optimism.
Government and Regulations
Cuba’s new cryptocurrency regulations came into effect this week that recognises crypto as a legal method of payment for commercial transactions in the country. This comes after El Salvador announced a plan to exempt investors from paying a capital gains tax and an income-tax on Bitcoin. In Korea, however, more than 60 cryptocurrency exchanges face suspension next week due to lack of registration with the Financial Intelligence Unit.