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Cryptocurrency resolution 215 of 2021, issued by the Central Bank of Cuba, went into effect on Wednesday, according to Cuba’s official News agency ELsa. Cryptocurrencies have become a legitimate way of conducting business in Cuba. The resolution also provides for the licensing of cryptocurrency service providers to conduct finance-related business within and outside Cuba. In addition, the resolution notes that the management of cryptocurrencies involves risks to monetary policy and financial stability, as well as risks of being used to finance criminal activities.
The number of USDT withdrawals on exchanges hit a 19-month low. It suggests that investors’ interest in crypto assets remains undiminished. Bitcoin price came under significant pressure around $48,500. If BTC does not break through this resistance level, it will enter a weak shock down pattern. Even the $3.4 billion clearing of long futures contracts on September 7 was not enough to dispel bullish sentiment, according to options market data. If Bitcoin doesn’t break below $46,000 and consolidate around $46,900, the bullish advantage will continue to expand. Please note there is still room for volatility ahead of next Friday.