As a part of its reform of crypto regulation, Indonesia will create a crypto exchange in 2023, according to reports. The platform is planned to be launched prior to a shift of regulatory power from commodities to securities authority. On Jan. 4, the head of the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti), Didid Noordiatmoko, stated that a crypto exchange should be set up this year. The move comes as a part of broader financial reform launched in December 2022. In accordance with the reform, in the next two years, the crypto oversight will be taken from Bappebti, a …

A former head of risk at Credit Suisse believes the next crypto bull market will stem from “regulatory clarity” in the United States — which he expects to happen in early 2023. Speaking to Cointelegraph, the former head of valuation risk at Credit Suisse, CK Cheng said some of the regulatory efforts underway in the United States will soon “open the doors” of traditional finance to crypto. Cheng is a former executive at investment bank Credit Suisse who left his role in July 2021 to co-found ZX Squared Capital, a crypto hedge fund targeting family offices and high-net-worth individual clients. …

The Vienna-based fintech unicorn Bitpanda is harkening back to the ways of traditional finance (TradFi) through new offerings on its exchange platform. By adding commodities to its list of available investment options, Bitpanda aims to provide its users to benefit from short-term price fluctuations in more traditional instruments, such as oil, natural gas and wheat. Bitpanda CEO Eric Demuth told Cointelegraph that due to investor demand, the line between TradFi and decentralized finance (DeFi) is becoming more blurred every year. “People want to be able to trade multiple asset classes simply, safely and conveniently, and TradFi is catching up to …

On Aug. 30, global investment bank UBS increased its view on the risk of the United States entering a recession within one year to 60%, up from 40% in June. According to economist Pierre Lafourcade, the latest data showed a 94% chance of the economy contracting, but added that it "does not morph into a full-blown recession." Partially explaining the difference is the "extremely low levels" of non-performing loans, or defaults exceeding 90 days from credit borrowers. According to Citigroup Chief Executive Jane Fraser, the institution "feels very good about" liquidity and credit quality. Furthermore, Reuters states that the financial …

Despite some touting crypto as a hedge against traditional markets, digital assets today share a similar risk profile to commodities such as oil and gas, and tech and pharmaceutical stocks, according to an analysis from Coinbase’s chief economist. The observation comes from a blog post from Coinbase chief economist Cesare Fracassi on Wednesday, noting that the “correlation between the stock and crypto-asset prices has risen significantly” since the 2020 pandemic. “While for the first decade of its existence, Bitcoin returns were on average uncorrelated with the performance of the stock market, the relationship increased quickly since the COVID pandemic started,” …

United States Senators Kirsten Gillibrand and Cynthia Lummis believe that most altcoins would likely be considered securities under their proposed new legislation, but they confirmed that Bitcoin (BTC) and Ether (ETH) will be classified as commodities. Lummis and Gillibrand both agreed with U.S. Securities and Exchange Commission Chair Gary Gensler’s assessment that most cryptocurrencies are securities under the Howey Test, with Gillibrand stating: “Most cryptocurrencies go to the SEC [...] Bitcoin and Ether would be certainly commodities, and that's agreed upon. That’s agreed with Chairman Gensler as well as the chairman of the CFTC.” Gillibrand pushed back on reports characterizing …

Over the past two months, Bitcoin (BTC) has respected an ascending triangle formation, bouncing multiple times from its support and resistance lines. While this might sound like a positive, the price is still down 11% year-to-date. As a comparison, the Bloomberg Commodity Index (BCOM) gained 29% in the same period. The broader commodity index benefited from price increases in crude oil, natural gas, corn, wheat and lean hogs. Meanwhile, the total cryptocurrency market capitalization was unable to break the $2 trillion resistance level and currently stands at $1.98 trillion. In addition to 40-year record high inflation in the United States, …

The world is becoming increasingly volatile and uncertain. The assertion that “inflation is the silent thief” is becoming less relevant. In 2021, inflation has turned into a rather loud and brazen robber. Now, inflation is at its highest in the last forty years, already exceeding 5% in Europe and reaching 7.5% in the United States. The conflict between Russia and Ukraine affects futures for gold, wheat, oil, palladium and other commodities. High inflation in the U.S. and Europe has already become a real threat to the capital of tens of thousands of private investors around the world. Last week at …

Dan Berkovitz, one of three commissioners currently serving at the U.S. Commodity Futures Trading Commission, or CFTC, said while the agency is suited to futures contracts, swaps, and options trading, it would need additional resources to handle the cash market for crypto assets. Speaking at the Managed Funds Association Digital Assets Conference on Tuesday, Berkovitz said the Commodity Futures Trading Commission enforcement actions in the crypto space have been “aggressive,” citing a $100 million civil monetary penalty against derivatives exchange BitMEX. Though he said the agency had the “capability and the expertise” to further regulate crypto assets, it was currently …

Anish Saxena, a New Delhi-based automobile dealer, made “incredible” profits by investing in cryptocurrencies in 2020, just as his business took a hit from the coronavirus pandemic-induced lockdown. “I had known about Bitcoin and Ethereum and dozens of other assets for years,” the 33-year old businessman said. “But I only got to invest in them after the lockdown pushed me and my family members out of work. And it helped us survive — big time.” Saxena revealed that he had allocated about 80% of his investment portfolio to Bitcoin (BTC) and Ether (ETH), with the rest of his capital distributed …

Gold is set to outperform Bitcoin (BTC) in the second quarter of 2021. An ounce of gold has surged from $1,707.45 on April 1 to over $1,750 in the still-running June 30 session. That marked a roughly 3.9% jump over the quarter. Meanwhile, Bitcoin has plunged by more than 40% to below $35,000 after topping out near $65,000 in mid-April, all in the same period. The inverse correlation between Bitcoin and gold markets surged specifically in April and May 2021. Analysts at JPMorgan noted in May that large institutional investors rotated their money out of the overvalued crypto markets to …