Hey everyone! In today's newsletter: - The U.K.'s FCA reminds crypto companies to register with it by June 30.
- Former senior official: Backend development of PBoC's CBDC is complete.
- Crypto Masterclass, featuring Max Keiser, Bitcoin investor and host of the Keiser Report, who said that Vitalik Buterin, co-founder of Ethereum, doesn't understand Bitcoin.
A reminder: If you subscribe to our premium content, you'll receive Inside Cryptocurrency ad-free five days a week, along with features like our daily Masterclass, interviews with crypto experts, and the latest studies and reports on crypto. Sign up now for a 14-day free trial! Best, | |  Rebecca |  | | |
Market Watch Monday trading sees coin prices mostly in the green with very little movement from last week's values. | Bitcoin | $9,466 | +1.11% | | Ethereum | $238 | +3.23% | | Tether | $1.00 | -0.11% | | XRP | $0.188 | +0.43% | | Top 100 Winner: DigiByte | $0.023 | +33.18% | | Top 100 Loser: Compound | $257 | -27.39% | Prices are as of 3:00 p.m. ET.
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The U.K.'s Financial Conduct Authority (FCA) has reminded crypto companies to register with it by the end of June. The financial regulator, who oversees authority on crypto in the U.K., said that any businesses that don't have registration by the Jan. 10, 2021 deadline will have to cease operations. According to the FCA, the June 30 deadline enables them to raise any possible questions with companies with enough for processing for it to be completed before Jan. 10. The move by the FCA comes as it clamps down on crypto companies by forcing them to comply to the new Fifth Anti-Money Laundering Directive, also known as AMLD5, which came into effect Jan. 10. More: - Last July, the FCA published its Final Guidance, which was aimed at providing clarity on current crypto regulation. Its guidance was in response to a consultation that the FCA published earlier in the year.
- At the beginning of 2020, the FCA became the anti-money laundering (AML) and counter-terrorist financing (CTF) supervisor of U.K. crypto asset activities.
FINANCIAL CONDUCT AUTHORITY 
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A former senior official for the People's Bank of China (PBoC) has said that the backend development of its digital yuan is complete. Wang Zhongmin, the former vice-chair of the central bank's National Council for Social Security Fund, said that the PBoC's central bank digital currency (CBDC) is in the testing phase. Wang added that the coronavirus pandemic had increased competition among technology companies and governments interested in creating a CBDC, citing Facebook's Libra as an example. More: - In April, Ling Zhang, executive director of M&A, Global Fiat, at cryptocurrency exchange Binance, shared images on Twitter that stated the pilot version of a wallet app for China’s digital yuan is available for download in four cities: Shenzhen, Chengdu, Suzhou and Xiongan.
- In March, it was reported that the PBoC was one step closer to issuing its CBDC after reports said that the Bank of China had completed development of the basic functions of the digital currency and was drafting laws to enable its circulation.
COINTELEGRAPH
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Our Crypto Masterclass features a well-known thought leader or expert in the crypto space. Today, I focus on Max Keiser, Bitcoin investor and host of the Keiser Report. In a recent interview, Keiser said that Vitalik Buterin, co-founder of Ethereum, doesn't understand Bitcoin. "[Buterin] doesn't get how absolute scarcity drives the BTC market." To get more of Keiser's views and receive our Masterclass every day, sign up for Inside Crypto Premium. GET YOUR 14-DAY FREE TRIAL  | | | |
 PayPal and Venmo are, reportedly, set to let users buy and sell crypto, according to people familiar with the matter. According to an industry source, the service could be available "in the next three months, maybe sooner." A second source said that the two companies are going to have a built-in wallet functionality that enables users to store assets there. While it's not known what crypto assets would be available, the source indicated that PayPal would be working with several exchanges to "source liquidity." PayPal declined to comment. COINDESK
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 A platform called E-NewHealthLife is now live and will store COVID-19 testing results. The blockchain-based medical data platform was jointly developed by VeChain, a blockchain tracking company, and digital healthcare solution organization I-Dante. The platform has been deployed at the Mediterranean Hospital in Cyprus. Patients who undergo antibody testing at the hospital will have medical and test results stored on the blockchain. They will be encrypted and uploaded on to the VeChainThor Blockchain. According to VeChain, the use of the blockchain will allow patients to prove their health status in order to return to work or travel abroad. @VECHAININSIDER/TWITTER
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QUICK HITS - A study by Scamwatch, a branch of the Australian Competition and Consumer Commission, shows that Australians lost nearly $15 million to crypto scams in 2019. Those between 25 and 34 were found to be most affected by the crypto investment scams.
- Pavel Durov, Telegram's CEO, has said that Russia's decision to terminate its ban on the messaging app in the country last week doesn't end there. In Durov's view, the digital resistance movement is "just getting started" and that they have plans to support Telegram in countries such as China and Iran.
- John McAfee's Ghost distributed exchange, which promises anonymity, is now live. Announcing the news on Twitter over the weekend, McAfee said that Ghost would replace the McAfeeDEX distributed exchange. The Ghost exchange has received criticism in the past because it "copy-pasted" some of its whitepaper from open-source privacy coin PIVX, which McAfee admitted to in May.
- Cryptocurrency exchange CrossTower has raised $6 million in a seed round. The company has said that the money will go toward supporting the company's new multi-asset trading platform, which aims to take advantage of institutional money entering the crypto market.
- Chief architect at Drift cut nearly $2M from their annual AWS bill while serving 1.3 billion chats. Learn how he did it.*
*This is sponsored content.
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 |  | This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. | | | | Editor | Jonathan Harris is a writer for Inside.com. Previously, he wrote for The Huffington Post, TakePart.com, and the YouTube channel What’s Trending. | |
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