Market Watch | Bitcoin | $17,529 | 7 day: +14% | | Ethereum | $479 | 7 day: +5.9% | | All crypto | $495b | 7 day: +11.7% | | Bitcoin dominance | 65.7% | 7 day: +1.7% | Prices as of 5 p.m. EST
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Bitcoin $17,500. Wow! What particularly makes me proud about this rally is that it coincides with an increase in bitcoin dominance. From bitcoin's collapse to just 33% of the industry in January 2018 amid the ICO hysteria, bitcoin's dominance has doubled to 66% of the industry today. I'm glad to watch the rotation out of scamcoins and into the best! Let's see what the world's sovereigns have in store for us over the next 12 months. Thanks for reading. | |  Aaron |  | | |
The Bank of England's deputy governor says it is not the central bank's job to protect other banks against digital fiat. Will a central bank digital currency (CBDC) issued by the Bank of England reduce the willingness of consumers to hold money in traditional bank accounts? That's not the concern of this central banker. - Jon Cunliffe, deputy governor of the Bank of England, shared his opinion regarding digital currencies during an online seminar, Reuters reported.
- Cunliffe said that it is not his responsibility to protect banks from the adverse effects of upcoming digital currencies, including digital fiat tokens.
- According to the deputy governor, a digital pound could reduce public interest in conventional bank accounts, but central bankers are not responsible for protecting banks' business models.
- The Bank of England published an interim CBDC report in collaboration with the Bank of International Settlements on Oct. 9, 2020.
Reuters 
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 Christine Lagarde The president of the European Central Bank (ECB) says a digital euro "will come." - Christine Lagarde, president of the ECB, discussed digital euro development and its implications on the European financial sector during a panel discussion held by the ECB on Nov. 12, 2020.
- Lagarde commented that digital fiat will become cost-efficient, allow quick transactions, and protect users.
- The ECB will aim to create a digital currency within four years, according to a Bloomberg report.
- U.S. Federal Reserve Chair Jerome Powell and Bank of England Governor Andrew Bailey joined Lagarde during the conference. Powell reaffirmed that the U.S. Fed continues reviewing CBDCs carefully.
- The ECB published a detailed introductory report on a possible digital euro last month and opened a period for public comment, available until January 2021.
- As EU policymakers deliberate, China progresses with its digital yuan pilot.
- Lagarde said that ECB "is not racing to be the first" to issue a CBDC, yet she is advancing carefully.
Bloomberg
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 Binance's Changpeng Zhao Binance.com ended support for its BGBP stablecoin shortly after Binance Jersey (binance.je) closed. We covered the context of Binance.je in this prior edition of Inside Cryptocurrency. - Binance exchange announced the delisting of its pound sterling-pegged stablecoin on Nov. 16, 2020.
- A spokesperson from the exchange said that the stablecoin delisting occurred due to user problems with issuance and retrieval "processes."
- The news comes nearly a month after Binance.com's intention to shutter its Jersey-based branch and just one year after its launch.
- Binance.je offered users a fiat-to-crypto onramp for Euros and British Pounds.
- Monday's announcement cites diminishing demand as the cause for BGBP's delisting.
Binance did not mention the U.K. Financial Conduct Authority (FCA), an important omission. - The FCA has outlawed all forms of retail cryptocurrency derivatives, which is a substantial portion of Binance's business. The FCA has not approved Binance to serve U.K. customers.
- Jersey island is a British crown dependency. The tax haven is just 85 miles south of mainland U.K.
- Note regarding BUSD for U.S. readers: Binance is not the issuer of the USD-pegged stablecoin, Binance USD (BUSD) is. Paxos performs issuance and technical functions, merely using Binance's brand name.
AMB Crypto
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Reginald Fowler's attorneys asked a New York federal judge to let them drop the case over a fee-related dispute with their client. Fowler was allegedly a controlling member of Crypto Capital, a bank at the heart of the largest lawsuit in cryptocurrency history: $1.4T. - Both of Fowler's defense firms, Rosenblum Schwartz & Fry PC and Hogan Lovells, are requesting permission to leave the case. We covered Fowler's lawsuit in this prior edition.
- On a Nov. 13, 2020 teleconference with Judge Andrew L. Carter Jr., Fowler's counsel refrained from sharing more details regarding the situation due to attorney-client privilege.
- Fowler's trial was postponed in October as attorneys said that Fowler was exploring another plea deal after turning down prosecutors' previous demand of a $371M forfeiture.
Law360
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Fidelity Digital Assets' Director of Research responds to common bitcoin criticisms. What happened: - A Nov. 13, 2020 blog by Ria Bhutoria, Director of Research at Fidelity Digital Assets, wrote a widely-shared rebuttal to common bitcoin criticisms such as bitcoin's volatility, high fees, payment struggles, low velocity, lack of hard backing, usage for illegal pursuits, and replaceability.
- Bhutoria does not address quantum computing, China, Wladimir van der Laan, the valve overflow incident, government prohibitions, and myriad other concerns.
- Bhutoria commercially benefits from continued confidence in bitcoin, penning consistently positive articles and praising bitcoin as an "aspirational store of value."
Coindesk
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QUICK HITS: - Cynthia Lummis, a Republican Senator-elect of Wyoming, endorsed bitcoin during an ABC News interview, calling it "a store of value."
- Coinbase cryptocurrency experienced another service outage yesterday. Coinbase's status page shows that the team resolved the incident, which affected the website, mobile app, and API, at 10:27 p.m. UTC.
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- Maker's (MKR) governance community explores ways to avert attacks after a researcher discovered that attackers can exploit MakerDAO's liquidation systems to create under-collateralized debt.
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 |  | Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. | | | | Editor | Alexander Huls is a Toronto-based journalist. He has contributed articles about true crime and pop culture to The New York Times, Men's Health, Popular Mechanics, and other fine publications. Follow him on Twitter @alxhuls. | |
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