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Welcome to State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. I’m your host, Nikhilesh De. Are governments worrying more about the growth of crypto? Two countries already announced crypto-related bans, though this could be an extension of previous efforts at controlling the space – and their own economies –
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The Central Bank of Nigeria (CBN) issued a five-page statement Sunday clarifying its position on cryptocurrencies after a regulatory warning to local banking institutions on Friday sent shockwaves through social media.  In Sunday’s statement, the CBN said Friday’s letter was only a reminder that cryptocurrencies were not legal tender in Nigeria, and was reiterating a
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Wyoming’s Cynthia Lummis – the first U.S. senator to publicly hold bitcoin – has been appointed to the key financial regulatory committee. This episode is sponsored by Nexo.io. On this edition of The Breakdown’s weekly recap, NLW discusses: The state of WallStreetBets The Bitcoin for Corporations event ETH all-time highs in advance of CME ETH
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Binance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. The CBN letter told local banking institutions that dealing in cryptocurrencies or facilitating payments
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Indian cryptocurrency exchanges have started a joint initiative to convince parliament to regulate cryptocurrencies rather than impose an outright ban.  Under the #IndiaWantsBitcoin campaign, the exchanges have launched websites – indiawantscrypto.net and indiawantsbitcoin.org – to help Indian citizens email their representatives at the Loksabha (the lower house of parliament) asking for positive and progressive regulation
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The creators of the Tendermint-based Terra suite of stablecoins are opening a fund to foster its tokens’ usage anywhere people are doing decentralized finance (DeFi) – and that primarily means Ethereum. Announced Thursday, Terraform Labs has launched a $10 million fund, Terraform Capital, to drive integrations of either its dollar-pegged stablecoin, TerraUSD (UST), or its
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The new military government in Myanmar has reportedly ordered telecommunications companies to temporarily block access to Facebook citing the platform is a threat to the restoration of stability in the country, as part of a broader effort to restrict internet access following a coup last month.  The nonprofit internet shutdown tracker NetBlocks confirmed that access
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Could GameStop-style short-selling speculation show up in China’s stock market?  Last week’s market frenzy in the U.S. may have inspired China’s crypto community to make more bets ondogecoin (DOGE) and bitcoin (BTC), but even the boldest traders are unlikely to try stirring up that kind of short-selling speculation in Chinese stocks. “The Chinese financial regulators
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The U.S. Securities and Exchange Commission (SEC) on Monday charged three associates of defunct crypto firm Bitcoiin2Gen with defrauding investors of $11.4 million through the 2018 B2G token offering infamously peddled by actor Steven Seagal. Bitcoiin2Gen and Start Options founder Kristijan Krstic and company promoter John DeMarr allegedly violated federal securities laws during the 2018
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Bitcoin is taking a break, staying in a tight trading range with lower than average volume compared to the past month. Meanwhile, alternative cryptocurrencies and decentralized finance are stealing the spotlight. Bitcoin (BTC) trading around $33,782 as of 21:00 UTC (4 p.m. ET). Gaining 2.5% over the previous 24 hours. Bitcoin’s 24-hour range: $32,341-$34,715 (CoinDesk
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Mark Cuban the billionaire owner of the National Basketball Association’s Dallas Mavericks, informed old-school investors that Reddit WallStreetBets (WSB) traders, who he dubbed “the store of value generation,” are “kicking your ass.” In a blog post published Sunday, Cuban said that watching the situation with the WSB traders unfold he believes they are applying the
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