Crypto News Recap: Ethereum Turns 6, Binance Regulatory Troubles Continue

Published August 2nd, 2021 - 06:30 GMT
Crypto News Recap: Ethereum Turns 6, Binance Regulatory Troubles Continue
The crypto exchange Binance is taking hits across the globe as Malaysia has announced the ban of the crypto exchange Binance from offering what the authorities called ‘illegal’ services in the country. (Shutterstock)
Highlights
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It seems that COVID measures are not the only thing governments are loosening this summer, because it's very clear that things have been heating up for the CBDCs. 

You might think I'm hallucinating given all the anti-crypto and mining policies' wrath, but trust me I'm not! This year, 83 major economies are pushing forward CBDC plans compared to only 35 countries in 2020! Unfortunately, This nationwide shift towards digital cash systems adoption and the ongoing global regulatory scrutiny led to the Binance drama deepening. This time Malaysia is the latest theater to ask the troubled crypto exchange to exit stage left from the country in 14 days!

On a happier note, the crypto community has been wild for NFTs, and it looks like the hype will continue as Ronaldinho and Coca-Cola are the newest to get their arms around these tokens.

Before we get into it let's check out the charts!

Bitcoin Chart

Source: coinmarketcap.com

 Crypto Charts

Crypto Chart

Source: coinmarketcap.com

83 Nations Are Exploring CBDCs

As of today, 83 major governments compared to only 35 countries in May 2020, were considering a CBDC. These 83 nations, representing over 90 percent of global GDP, are stepping up their CBDC research and exploratory use cases; however, only five of them have actually launched these CBDCs, according to Atlantic Council CBDC tracker info.

Sources: Atlantic Council Research, Bank of International Settlements, International Monetary Fund, John Kiff Database

China, of course, is leading the race towards CBDCs adoption as they are allowing the usage of Digital Yuan by foreign visitors during the upcoming Winter Olympics.

Happy Birthday Ethereum from Bitcoin.com Wallet

In celebration of the launch of the second-largest cryptocurrency by market cap and the most actively used blockchain, Ethereum, on  July 30th six years ago, The Bitcoin.com Wallet decided to give away $6000 in Ether (ETH) to users! All you need to do is buy any amount of ETH through the Bitcoin.com Wallet or via their official website between July 30th and August 6th! 

Ethereum was created by the crypto genius Vitalik Buterin. And if all these terms are giving you a headache, check out 👉 📖 15 Crypto Terms You Must Know Before Trading!

Malaysia Gives Binance 14 Days Notice to Shut Down Operations

The crypto exchange Binance is taking hits across the globe as Malaysia has announced the ban of the crypto exchange Binance from offering what the authorities called ‘illegal’ services in the country.

In a statement, The Securities Commission Malaysia (SC) has issued a public reprimand against the exchange, giving it two week’s notice to ‘disable the Binance website (www.binance.com) and mobile applications in Malaysia, immediately cease all media and marketing activities, including circulating, publishing or sending any advertisements and/or other marketing material, whether via emails or otherwise, to Malaysian investors; immediately restrict Malaysian investors from accessing Binance’s Telegram group’.

It looks like regulatory authorities in Asia will leave no stone unturned, as Bitcoin.com said that the Indian authorities are reportedly running down Binance’s activities that are linked to the ongoing money laundering case in China and Japan.

Moving to the other half of the globe, the troubled exchange was ordered to halt derivatives trading operations across Europe, starting with Germany, Italy and the Netherlands. Users from these countries will have 90 days to close their open positions, the announcement reads. Binance’s CEO, Changpeng Zhao, tweeted:

Jordan: Pay for This Music Concert in Bitcoin or USDT!

For the first time ever, Jordan-based FESCA Productions has announced that they’ll accept BTC and USDT as payment options to purchase concerts for the upcoming El Far3i music band concert at Al Shams Theater in Jordan.

Source: FESCA Productions/FB

El Far3i is a Jordanian-Palestinian songwriter, rapper, drummer, and producer. Known for his dichotomous solo act El Far3i/ Far3 El Madakhil, he enmeshes Arab acoustic folk and hip-hop and continues to experiment sonically, evolving into the more recent forked axis, El Far3i Flux.

News Bites

  •  PayPal expands crypto trading to the UK
  • Amazon reportedly mulls to accept Bitcoin payments this year, claims insider
  • Brazilian Football mega icon Ronaldinho is rolling out a new NFT collection in collaboration with creative studio INFLUXO
  • Coca-Cola plans to launch a collection of NFTs to raise funds for Special Olympics International!

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Disclaimer: The Cryptocurrency market is considered highly speculative, risky, and largely unregulated. Anyone mulling investing in it, should be aware there's a risk of losing their entire investment.


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