Headlines
Beijing Launches First ATM Digital Yuan Cash Exchange Function
Industrial and Commercial Bank of China (ICBC) and Agricultural Bank of China (ABC) have pioneered ATM-enabled digital yuan cash exchange services in Beijing. ICBC’s 3,000+ ATMs now support this feature, while ABC has deployed over 10 machines in the Wangfujing area.
Market Trends (Latest Data)
- BTC: $35,837 (-1.42%)
- ETH: $2,231 (+0.69%)
- BCH: $563 (+0.01%)
- DOT: $21.54 (+3.34%)
Policy Updates
Denmark’s Largest Bank Bans Crypto Trading
Danske Bank cited transparency issues and volatility risks, aligning with anti-money laundering efforts.
Wyoming Senator Backs Bitcoin
Senator Cynthia Lummis advocates Bitcoin as an inflation hedge, urging regulatory clarity in the U.S.
Spain’s BBVA Expands Bitcoin Services
BBVA now offers Bitcoin trading to Swiss private banking clients.
UK Accelerates Crypto Firm Assessments
The FCA has increased resources to evaluate crypto registrations, with average approval times at 248 days.
IRS Clarifies Crypto Tax Rules
BTC/ETH/LTC swaps pre-2018 don’t qualify for like-kind exchanges under U.S. tax law.
Portugal’s Landmark Crypto License
Criptoloja and Mind The Coin are the first exchanges approved under new regulations.
Blockchain Developments
- China’s Fifth Blockchain Filing Batch: 223 services registered.
- Bank of England on CBDCs: Tom Mutton highlights their security advantages.
- U.S. Crypto Funding Surge: $5.88B H1 2021, up from $2.19B in 2020.
Crypto Ecosystem
U.S. Senator to Discuss Bitcoin with Biden Administration
Cynthia Lummis plans talks on integrating digital assets into financial systems.
Miami’s Bid for Bitcoin Miners
Mayor Francis Suarez promotes low-cost nuclear energy to attract Chinese miners post-crackdown.
Uniswap Hits $300B Trading Volume
First DEX to achieve this milestone.
NBA Top Shot Sales Drop 80%
From $200M in March to $41M in May.
China’s Bitcoin Nodes Dip to 1.71%
Global shift sees U.S. (18.74%) and Germany (17.76%) leading.
👉 Explore Crypto Regulations Globally
FAQ
Q: What’s Portugal’s stance on crypto exchanges?
A: Portugal granted its first operational licenses to Criptoloja and Mind The Coin under new 2021 laws.
Q: Why did Danske Bank ban crypto?
A: Concerns over transparency, volatility, and compliance with anti-money laundering laws.
Q: How does Bitcoin help against inflation?
A: Limited supply and decentralized nature make it a hedge akin to digital gold, per Senator Lummis.
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Disclaimer: This content is for informational purposes only and not financial advice.
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