Coinbase slammed with $3.6M fine in Netherlands; Bitstop founders acquire Genesis coin; understanding token standards; Bank of America says “digital currencies appear inevitable”

Countries are learning that it’s not simply a case of “if you build it, they will come.”

The latest Bank of International Settlements bulletin looks at ways to mitigate the risks of crypto assets and suggests TradFi could get its house in better order too.

Indonesia has plans to launch a national crypto exchange this year before it hands over regulatory oversight of the industry to its Financial Services Authority.

We have extracted some key comments from the Liaison Council members, with regards to cost, pilot participation, technology and the financial intermediary function, and added our comments.

The limiting or “asymptotic” result of such an evolutionary trend would be in effect “ideal money”

The UK government has announced the amendment of its financial services regulatory framework, which seeks to drive growth in the sector and accommodate stablecoins and other crypto assets.

As a response to the financial freedom it delivered to the masses, Central Banks deployed their new weapons of economic destruction: CBDCs. A modern authoritarian financial tool to further diminish economic freedom.

What really makes the CBDC future a potential hellscape is the fact that governments never stop at the most innocuous use case for a technology when pushing that technology to its limits might benefit them.

Nigeria has taken an unconventional approach to encourage the use of its CBDC, the eNaira, by limiting ATM withdrawals to $45 per day.