News Recap Synopsis and additional links found on the unchainedpodcast.com website:
Why MassMutual’s BTC Buy Is So Significant
Plus, what potential regulations mean for your crypto
Regulators are knocking on crypto’s door, with international, foreign and domestic regulators all weighing or instituting stricter controls on all kinds of digital currencies.
The Treasury Department released a joint statement on Monday, after a virtual meeting of G7 Officials, signaling a renewed urgency for regulating digital currencies. And, in France, the Ministry of Finance has enacted harsher KYC regulations for crypto exchanges.
The storm around proposed regulation has led many in the U.S. to speak out against a rush to pass legislation, with Circle’s Jeremy Allaire releasing a statement criticizing any hasty move by the Treasury. Likewise, several U.S. Congress members have released a letter voicing their objection to any legislation rammed through by Mnuchin in the final days of his tenure as Treasury Secretary.
In other news, MassMutual Life Insurance bought $100 million of Bitcoin, a notable move, given that it is not known to be ideological about Bitcoin, the way previous corporations that bought bitcoin have. MicroStrategy may be just getting started with its Bitcoin buying spree, announcing the issuance of $550 million in convertible notes to purchase more of the digital currency. More crypto companies are applying for bank charters, and the first crypto index fund is now trading publicly in the U.S. Also, Square has announced a considerable investment initiative to drive the adoption of clean energy in the use of Bitcoin. And we have further exploration of the complex economy that will be Ethereum 2.0.
On the podcasts, Gavin Wood makes the case for Polkadot on Unchained, describing how his parachain world will look and how it will coexist with Ethereum, as well as addressing concerns about its security. And on Unconfirmed, Rohan Grey, the advisor to the STABLE Act, which would require stablecoin issuers to obtain a bank charter, explains why he believes this legislation is necessary.
This week’s top stories:
U.S. Lawmakers Put Pressure on Mnuchin to Rethink Crypto Wallet Regulations
G7 Regulators Come for Cryptocurrencies
MassMutual Invests $100 Million in Bitcoin
MicroStrategy to Sell $550 Million Convertible Note Offering to Buy Bitcoin
More Crypto Companies Apply for Bank Charters
BitPay
Paxos
Square to Invest $10 Million for Bitcoin Clean Energy
Bitwise Launches First Crypto Index Fund Publicly Traded in the U.S.
The Economics of Ethereum’s Internet Bond
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Messari’s Crypto Theses for 2021
Coindesk’s Most Influential People in Crypto 2020
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