A leading figure in cryptocurrency trading says the industry can create more opportunities for women.

Speaking to Bloomberg, the chief executive officer of Melbourne-based BTC Markets, Caroline Bowler, said blockchain needs more female involvement and opportunities will emerge as the industry matures and crypto gains wider acceptance.

She said: ‘There are lots of entry points into cryptocurrency and into blockchain businesses and you don’t have to be a developer or specializing in blockchain in order to find your place within this ecosystem.’

Cryptocurrency is largely male-dominated, with men also more likely to be involved in crypto trading and investing.

Bowler, who sits on the board of Blockchain Australia, told Bloomberg: ‘It’s not perfect, there is that whole “crypto bros” subsection that still exists and I have no doubt will continue to exist. But as crypto becomes increasingly mainstream and more women come in, the impact of that crypto bro is diluted and the normal mainstream acceptance comes through.’

There remains a long way to go to achieve representative female involvement in finance, and especially fintech. While the numbers are increasing, it is a slow process. A 2021 report by Citywire confirmed the percentage of women who manage money worldwide had risen, but only from 10.3 per cent to 11.8 per cent.

Cryptocurrency Needs More Women, Says Exchange Boss

China’s umpteenth cryptocurrency ban was followed by a customary dip in the price of Bitcoin and altcoins as Bitcoin fell by over $2,000 (£1,460) following the announcement made by China’s central bank on 24th September 2021. The People’s Bank of China deemed “virtual currency-related business activities” as “illegal financial activities”.

China has been trying to completely ban crypto-related activities since 2013 but to no avail. That said, the Chinese government has ramped up its crackdown in 2021, making a series of announcements in May, June and September. That said, what does the latest ban really mean?

## The future of crypto in China

While crypto trading has been banned in China since 2019, foreign exchanges have continued to offer their services to citizens. By deeming crypto services as illegal, the government has all but sealed China’s withdrawal from the market – Huobi and Binance have commenced market withdrawal measures already.

The government believes crypto-related activities are a threat to “the safety of people’s assets”. While the market has already recovered from the ban, with whales buying the dip and adding 80,000 BTC to their wallets, the reality behind China’s latest ban is to eradicate the use of uncontrollable crypto assets and promote the use of their CBDC, the Digital Yuan.

China is not against crypto – the government seeks complete control over the use of crypto in the country. The government is in the advanced stages of CBDC implementation and will be a global leader once fully integrated into the financial system. While other countries (like the Bahamas) have launched CBDCs already, China will be seen as a giant in the sphere.

The United States is far behind in implementing CBDC technology and in the long run, China may have an upper hand in global financial infrastructure – 81 countries are considering the possibility of implementing their centralised cryptocurrency.

What Does China’s Ban on Crypto Really Mean?

[Bank of England](https://www.bankofengland.co.uk/) have warned of considering tough new rules to prevent British banks from building up exposure to crypto assets. The Deputy Governor for the Bank of England, Sam Woods, said that rules set out by the Basel Committee, that would require banks to hold capital in reserve equal to their bitcoin exposure, are "quite sensible".

## Crypto Warning Issued

The Basel Committee recently issued a warning to the financial industry about cryptocurrencies. The committee, which is made up of representatives from 27 countries, stated that they are currently investigating rules to prevent British banks from having exposure to cryptos.

## Bank of England Prepared

Woods said that the Bank of England was prepared to introduce rules on capital treatment that "front run" worldwide regulation and tighten regulation on new assets. He said that cryptocurrencies are currently unregulated and do not meet the requirements of a "serious financial asset."

Bank of England Considering Tighter Crypto Rules

The CEO of [Airbnb](https://www.airbnb.co.uk/), Brian Chesky, has spoken on receiving requests about the possibility of the company introducing crypto payments.

## Crypto Payments Requests

During an interview with Liz Claman on the Claman Countdown show, Chesky said "We get alot of requests at Airbnb, I've been getting it for years, I have nothing to annouce on it today".

Claman had asked about the possibility of accepting digital currency for payment, to which Chesky replied that "you can imagine if hotels had their own currency". In a more recent post on Twitter, Chesky said "Our philosophy at Airbnb regarding cryptocurrencies is this: We want to be appropriate with how we implement it and make sure were taking those momentous steps, and we're doing it thoughtfully".

He continued his interview with Claman by saying "We don't want to try and kill bitcoin nor do we want to participate in the hype of cryptocurrency, but we believe there will be a global currency that has a volatility that's similar to its peers like gasoline or gold."

Airbnb CEO Speaks on Crypto Payments

US President, Joe Biden, will nominate the anti-crypto, Saule Omarova, for the top position of OCC. The official White House [website](https://www.whitehouse.gov/) continues its series of nominations since yesterday evening.

There is no text about Omarova's nomination on the president's website, but it does mention that she has worked "in various capacities at the Board of Governors of the Federal Reserve System".

The nomination was announced in a press release that thanks for all past work rather than just announcing a new name.

## Omarova Sceptical of Crypto

It is unknown whether this will have any effect on the current plans to recognize virtual currencies as commodities , but it certainly seems strange timing for Omarova to take office. This may be seen as negative news within the crypto industry as Omarova is known to have previously been sceptical of cryptocurrencies and even argued for their banning.

She had previously spoke at a hearing on virtual currencies where she said that cryptocurrencies should be considered as any other type of financial instrument and therefore require maximum transparency, describing them as "trustless".



Saule Omarova to be Nominated as Head of OCC

Financial app, Robinhood, has announced that the company is planning to launch a new cryptocurrency wallet in 2022. Robinhood is a popular app that allows users to buy and sell stocks with zero fees.

In early 2019, the company announced its plans to create an integrated cryptocurrency wallet for buying, selling and storing cryptocurrencies in addition to trading traditional assets on their platform which comes as standard for any financial services firm.

## Plans For Roll Outs

The company has said that they will be rolling out the new wallet to users on the waiting list early next year to an initial group of customers. This will enable the company to identify any changes that will need to be made to the wallet in order to ensure it’s fully secure and ready for full roll out.

Robinhood has also said that the company will be rolling out crypto trading categories, allowing users to view all their crypto assets together rather than having them segregated which is currently how they are displayed on the platform.

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Crypto Business News | Page 27

Read the latest crypto business and market news from around the world.

Cryptocurrency Needs More Women, Says Exchange Boss

What Does China’s Ban on Crypto Really Mean?

Bank of England Considering Tighter Crypto Rules

Airbnb CEO Speaks on Crypto Payments

Saule Omarova to be Nominated as Head of OCC

Robinhood to Launch New Crypto Wallet Next Year

Axie Infinity Coin: Origin a Gamechanger?

BTT Crypto: BitTorrent Token Price

Singapore Regulator’s Clampdown on Crypto