This week in Crypto News Recap, Latin America continues to lead the crypto adoption as Paraguay is eyeing accepting bitcoin as a legal tender. Following the legal crackdown on the crypto exchange Binance, Santander UK, and Barclays have blocked customers' payments to the exchange. Even TikTok has blocked crypto ads.
Checking price charts? You know the drill... we got you covered! Here is a brief recap of all big cryptocurrency news of the past week.
Crypto Ads Banned on TikTok
The Chinese video-centered app, TikTok, rolled out new ads guidelines on Friday that prohibits promoting any financial services and products including cryptocurrencies, lending and management of money assets, loans and credit cards, buy now pay later (BNPL) services, trading platforms, cryptocurrency, foreign exchange, debit and pre-payment cards, forex trading.
This comes after TikTok received legal backlash for unregulated financial advice as United Kingdom’s Financial Conduct Authority (FCA) issued a report that reads: “The findings reveal there is a new, younger, more diverse group of consumers getting involved in higher-risk investments, potentially prompted in part by the accessibility offered by new investment apps.” The report goes on to state that around 60% of young investors claim that a loss of their investment would have a “fundamental impact on their future lifestyle.”
Paraguay to Issue Bitcoin bill on July 14
Following El Salvador adding bitcoin as a legal tender. Paraguay has started to develop its very own cryptocurrency strategy.
I am here to unite Paraguay 🇵🇾, that is why we decided with Senator @FSilvaFacetti to present together the bill #bitcoin on Wednesday, July 14!— Carlitos Rejala 🙏🇵🇾🙌 (@carlitosrejala) July 9, 2021
Stay tuned since there will be a mega surprise for Paraguay and the world. Something GIANT is coming 🌍#Bitcoin #btc
What we know so far is that the Latin country is introducing a bill to Congress on Wednesday, July 14 but there were no details on what this bill would entail.
Santander UK Bank to Block Payments to Crypto Exchange Binance
After the regulator crackdown, Spanish multinational financial services company, Santander UK, has joined other major rival banks like Barclays in blocking customers' payments to crypto exchange Binance.
Hi @santanderukhelp are you & @Barclays banning transfers to #Binance to stop people buying #bitcoin & therefore bolster the price of central banks digital currencies on roll out..seems like a little pre #MarketManipulation aren't you regulated to stop this..asking for a friend🤷— Jonathan (@JonLongGame) July 11, 2021
Nevertheless, customers will still be able to receive funds from Binance.
- Wall Street banking giant, Bank of America, wants to explore cryptocurrencies use cases with a new dedicated crypto research unit!
- The Israeli parliament to grant President Isaac Herzog an NFT of the original draft of the presidential oath.
Chinese crypto miners are selling GPUs on used trading sites due to their government clampdown.
Not just ASICs, Chinese miners been dumping stacks of GPUs too on Xianyu, one of the largest marketplace apps for secondhand goods. Looks like gamers were also sending their regards under those sales ads.https://t.co/Sv1tL7NneC pic.twitter.com/69VpWlcyFj— Wolfie Zhao (@WolfieZhao) July 7, 2021
- The ₿ Word July 21, 2021
- DeFi Conference 2021 Augest 4, 2021
- Blockchain Expo Global 06 Sep 2021 - 07 Sep 2021
- Become an Official CoinMarketCap Influencer! The price-tracking platform is inviting crypto Bloggers, YouTubers, Chat Moderators, and any creator who loves crypto and wants to join the CoinMarketCap family.
- Coinbase will list the stablecoin tether (USDT)
- Take a quiz! Earn $FIO Tokens
- Binance: Register an account at Crypto exchange Binance via gift link to receive a share of $100,000 in TRX, BTT, WIN, JST and SUN.
- Coinmarketcap: Take this quiz to earn $CKB Tokens.
- Drive Fiat 500 and earn crypto while you drive
Podcasts Worth Listening to
- What is Hedging? Ahamd Sharkatly, Kalam Mushafar
- Is the Bitcoin Bull Market Over? Nathaniel Whittemore, The Breakdown.
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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