Iran pumps Bitcoin, former Bakkt CEO is to regulate trading on a governmental level, Asian countries keep standing at the forefront of the blockchain adoption. The week of January 6-12 on the radar by BTCMEX.

BTC rallies in response to the military actions in the Middle East

Bitcoin price reached $8,500 this week as the mainstream media stated Iran has bombed the US military base in Iraq. Bitcoin is selling at $24,000 on a local exchange in Iran after the airstrike at Baghdad’s airport ordered by United States President Donald Trump killed the head of the Iranian Revolutionary Guards’ elite Quds Force, General Qasem Soleimani.

The Bitcoin priced-in at $8,000 after Donald Trump announced the US would not seek further military action against Iran after the airbases bombing in Iraq.

It’s official: Senator Loeffler to set regulations

Kelly Loeffler, the former Bakkt CEO and wife of Jeffrey Sprecher, founder, and CEO of Intercontinental Exchange, has become Georgia’s new Senator and will help oversee the major financial regulator, the Commodity Futures Trading Commission.

In a January 6 tweet, Loeffler announced that she was sworn into the US Senate by Mike Pence, the Senate’s chief officer, to become Georgia’s newest Senator.

China is launching National Blockchain

Blockchain-based Service Network that has been tested for 6 months in China is reported to be launched in April 2020.

The project aims to reduce technical and economic costs for wide blockchain adoption in China and is an important milestone in the development of smart cities and the digital economy. China has earlier announced the launch of its national digital currency in 2020.

South Korea: Crypto Derivatives are the Fourth Industrial Revolution

The South Korean Presidential Committee on technological development sees cryptocurrency OTC and derivatives trading as a powerful force to drive the country’s economic growth.

The Committee stated: “As of May 2019, daily crypto-asset trade hit more than 80 trillion won (over $68 billion) in the world, so it is no longer possible to stop crypto-asset trade. […] The Korean government has to gradually allow institutional investors to deal in crypto assets and promote over the counter (OTC) desks dedicated to institutional investors’ trade.”