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This week the Ethereum network implemented a major change, which some believe sent the price of ether soaring. 

It changes the way the protocol manages transaction fees, and it could begin to reduce the overall circulating supply of ether—which is why so many people think it’s a big deal. 

 

Ethereum’s “London” hard fork is here

A major change to the Ethereum network has been implemented, changing the way transaction fees are handled, Decrypt reported. The network change, called a hard fork, was named “London.” it could potentially reduce transaction fees and the circulating supply of ether on the network. 

Germany lets some funds hold crypto

A new law allows certain institutional funds in Germany to invest up to 20% of their assets into bitcoin and other cryptocurrencies, Bloomberg reported. The class of funds looks after $2.1 trillion in assets. 

U.S. stocks regulator offers crypto hints 

The chairman of the U.S. securities regulator, Gary Gensler, gave a speech outlining his thoughts on crypto regulation, coming out largely in favor of the emerging asset class, Bloomberg reported. A U.S. exchange-traded fund for a crypto asset like bitcoin remains an elusive and much anticipated product. 

Bitcoin could dodge new tax rules 

Lawmakers in the U.S. are proposing to exempt Bitcoin miners from potential new rules that would increase their tax liability, Decrypt reported. The rules are part of a major infrastructure bill that has wide-ranging implications for the crypto world. 

ATM leader plans crypto roll-out 

One of the world’s largest ATM manufacturers, NCR, has acquired the crypto ATM firm LibertyX, CoinDesk reported. The $73 million acquisition is intended to help NCR integrate crypto features throughout its network. 

European ETF with bitcoin exposure launched

The French investment manager Melanion Capital received approval to launch a fund that will invest in stocks that are highly correlated to the price of bitcoin, Bloomberg reported

NFT markets are surging again

A series of big-ticket buys in the NFT market indicate the market is back, Decrypt reported. Multi-million dollar buys of CryptoPunks, Stoner Cats and other projects, and over $100 million in volume on the OpenSea marketplace within days suggests the market is hot again. 

Ether posts record winning streak

Ether traded higher for 12 days straight, a new record for the cryptocurrency, CoinDesk reported. The price gains are thought to be caused by interest in the “London” hard fork, which activated this week. 

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