If you were forwarded this newsletter and would like to receive it, sign up here.
Send feedback to daniel.kuhn@coindesk.com – we'd love to hear from you!
Top Shelf Today's must-reads
TIGHTER RULES: The Financial Action Task Force (FAFT) released an updated draft of guidance Friday that could expand its purview over an even larger swath of the cryptocurrency industry. Notably, decentralized finance (DeFi) and non-fungible tokens (NFT) are in the anti-money laundering authority’s sight. Technical considerations make regulating these pseudonymous-by-design tools difficult, though new rules could see founders, investors and VC firms responsible for these open platforms. DELAYED OFFERING: Coinbase’s highly anticipated public offering has been shifted to April after its plan for a March listing “slipped.” No reason was given for the delay, Bloomberg first reported. The U.S. Securities and Exchange Commission (SEC) has been reviewing the San Francisco-based exchange's plan for a direct listing. On Friday, Coinbase settled with the Commodity Futures Trading Commission (CFTC) over allegations it self-traded cryptocurrencies between 2015 and 2018. It will pay a $6.5 million fine. PRIVACY PREVARICATION: A People’s Bank of China official said a fully anonymous digital yuan is “not feasible" because of technical limitations and the need to balance user rights with "international consensus" on risk control. The central bank digital currency will be tied to mobile phone numbers, limiting privacy, though would offer more pseudonymity than commercial payments products like bank cards, WeChat or Alipay, the official claimed. ATTEMPTED BAN? After public pushback, the central bank of Nigeria (CBN) has clarified a statement that seemed to order financial institutions to shut down all accounts associated with cryptocurrency trading, saying the order is not an outright ban. Meanwhile, peer-to-peer bitcoin trading volumes in Morocco have increased during the last three years despite a long-standing ban. – Daniel Kuhn
Sound Bite Overheard on CoinDesk TV
"The people that are betting long-term on bitcoin really are betting that bitcoin takes a place within the network and structure of global reserve currencies. It becomes money."
SPONSORED BY NEXO Your digital assets deserve a savings account in their BEST INTEREST. Leading crypto lender Nexo treats you, your crypto and your fiat to industry-best Crypto & Fiat services, featuring:
* Up to 12% interest on digital assets, paid out daily! * Yields available on BTC, ETH, LTC, BCH, XRP, XLM, EOS, TRX, LINK, BNB, PAXG, USDT, USDC, TUSD, PAX, DAI, HUSD, GBP and EUR. * No minimum or maximum limits on funds deposited, offering infinite opportunities to earn. * #ZeroFees on all transactions. * Military-grade wallet security and top-tier insurance on all custodial assets with SOC 2 Type 2 certified crypto custodian BitGo.
Get started at nexo.io
Introducing 'Coin Toss,' debating the future of money on CoinDesk TV
From the world leader in crypto news and events, the all-new CoinDesk TV covers the rapidly evolving world of digital finance and its role in the global economy.
Hosted by CoinDesk Podcasts Managing Editor Adam B. Levine, "Coin Toss" sets the stage for debate between guests with opposing views on policy and regulation, privacy and data integrity, fraud and crime and more.
Watch "Coin Toss" Wednesdays at 10:30 a.m. ET on YouTube or CoinDesk.com.
Off-Chain Signals What others are writing....
A look at BitClout, the “crypto celebrity network” that monetizes everyone’s Twitter profile with or without their consent. (Decrypt) Nic Carter takes a crypto-philosophical approach to NFTs, which are “a process, rather than a product.” Everything you ever wanted to know about Coinbase. (Mirror) The Guardian’s bi-weekly puzzle is based on zero-knowledge proofs!
– D.K.
SPONSORED BY NEM GROUP Symbol from NEM, the next-generation public blockchain, launched March 15th, marking a milestone in NEM’s vision for a new economic and digital system. Boasting enterprise-grade security and programmability, Symbol smooths business friction and increases the flow of data to supercharge the creation, exchange and protection of assets. NEM Group - comprising NEM Software, NEM Trading, and NEM Ventures - nurtures a strong and healthy ecosystem to shape the development and future of blockchain technology for generations to come.
The Takeaway Putting the news in perspective
The In-Group and the NFT Group My all-time favorite movie review came out in 2012 when The New Yorker tasked Anthony Lane with covering “The Amazing Spider-Man” and “Take This Waltz.” Really, I just like the end of the first paragraph, which makes a distinctly New Yorkerly objection to the first film. Lane wrote:
"Hey, Anthony, can you pick up this new thing with Seth Rogen and Sarah Silverman? ‘The Lousy Waltz’ or something?" "Yeah sure." "Sure thing, Chief."
– Brady Dale CoinDesk’s Research Hub brings together a wide range of insight from the crypto asset industry’s top analysts, who look at market developments, asset fundamentals, infrastructure progress, ecosystem trends, company analysis and more.
It hosts the richest compilation in the industry of insight from our own research team as well as Fidelity, Bitwise, Grayscale, Kaiko, Coin Metrics, Ark Invest, Dapp Radar, Token Insights and many others. Access this library of information in CoinDesk's Research Hub.
The Chaser...
ATTENTION: Scammers have been sending fraudulent emails with links to sites disguised to look like coindesk.com. If you are in doubt about a link, type https://www.coindesk.com directly into your browser; do not copy and paste. Remember, if something seems too good to be true, it probably is.
Copyright © 2021 CoinDesk, All rights reserved.
250 Park Avenue South New York, NY 10003, USA You can manage your preferences here or unsubscribe from all CoinDesk email. |