The biggest crypto news and ideas of the day Oct. 6, 2021 If you were forwarded this newsletter and would like to receive it, sign up here. Sponsored by Welcome to The Node.
Questions? Feedback? We'd love to hear from you! Simply reply to this email.
–Daniel Kuhn
Today's must-reads Top Shelf GENSLER'S SURE: U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler told Congress on Tuesday that the agency has no plans to ban crypto. Asked if the SEC had any plans to follow China's lead in banning crypto in favor of a prospective central bank digital currency (CBDC), Gensler said, "No, that would be up to Congress." He also reiterated a call for crypto exchanges to register with the SEC and concerns over stablecoins. Meanwhile, venture capital firm a16z has weighed in with its own crypto policy proposals – including oversight for DAOs! GLOBAL POLICY: Ukraine President Volodymyr Zelensky has sent back the country's first bill regulating digital assets to parliament for changes after a yearlong effort. The version proposed by the president leaves central bank digital currency (CBDC) supervision to the National Bank, but leaves all other digital assets under supervision of the nation's top securities regulator. Meanwhile, Brazil's congress will discuss a bill that regulates companies operating in the cryptocurrency sector and increases penalties for crypto pyramid schemes. SECURE THE NFT: Republic has announced the launch of "Republic Music," a loosely defined investment product that claims to offer "an entirely new way to create, produce and share royalties from music" – using a form of securitized NFTs. The result of a partnership with a crypto company called Opulous, Republic Music gives listeners the chance to "invest in the music they love for as little as $100 and share in the rights to royalties." Rapper Lil Pump is involved. EXCHANGING PLACES: Huobi, a popular exchange among Chinese traders, has lost market share to competitors Binance and OKEx since it suspended trading in China following the country's crypto crackdown. Huobi's share of spot-market trading volumes has dropped to 16% from 24%, according to Kaiko. Meanwhile, Binance, the world's largest crypto exchange, has registered three of its firms in Ireland following global regulatory pressure. Its office is above a sports store, reportedly!
A message from Nexo When it comes to buying, borrowing or earning on your crypto, you won't find an easier, safer way to do it than Nexo.
And right now, with its Referral Program you can earn $10 worth of bitcoin for each friend you refer. And the best part – your referral gets $10 in BTC, too.
You can invite up to 100 friends – so you can get as much as $1,000 in bitcoin by copy-pasting a few links. And you can further bump that amount by earning up to 8% interest p.a. on your bitcoin, paid out daily.
Now is the time to unlock the full power of your crypto.
As heard on CoinDesk TV... Sound Bites "Culture right now is advancing where you have younger people adapting Web 3 not only as a technology but as an ethos."
–Impact Theory co-founder and CEO Tom Bilyeu, on CoinDesk TV's "First Mover."
As crypto adoption accelerates, so too does demand for academic research and teaching. Rigorously researched, here are the Top Universities for Blockchain by CoinDesk results. This year's ranking rates 220 schools internationally, expanding the sample from just U.S. schools last year. View the top institutions.
What others are writing... Off-Chain Signals
A message from Apollo Fintech Gold Secured Currency (GSX) is trust backed by assets, gold and land mineral rights that provide a minimum asset value AND grow your investment. The assets will generate income to maintain GSX and increase its value.
Putting the news in perspective The Takeaway How to Talk to Your Senator About Crypto Safe Harbor
You probably won't get to talk to a human being (much less a senator), but the offices do track the volume of inbound comments they get on bills. Voicing support for the McHenry/Pierce crypto safe harbor proposal is one way to (maybe) help stave off what seems poised to become a much more aggressive regulatory regime under SEC Chairman Gary Gensler.
–David Z. Morris
Sponsored Content
Coinbase: Why Digital Asset Adoption in Commerce Is Gaining Momentum
A number of large companies have been adding significant amounts of bitcoin to their balance sheets, signaling corporate America's growing confidence in BTC and other digital assets as a potential hedge against the possibility of rising inflation.
At the same time, some of the more forward-looking organizations also see digital adoption as a way of gaining a competitive advantage, whether it's through utilizing crypto to make secure international transactions or integrating it into their business operations.
The Chaser...
The Node A newsletter from CoinDesk Copyright © 2021 CoinDesk, All rights reserved. 250 Park Avenue South New York, NY 10003, USA Manage your newsletter subscriptions | Unsubscribe from all CoinDesk email |