People’s Bank of China Targets Crypto Companies in Shenzhen Crackdown

The Shenzhen office of the People’s Bank of China (PBOC) has reportedly set out to correct the business activities of about a dozen companies allegedly engaged in cryptocurrency transactions. According to Chinese media, the entities have been targeted in a crackdown on crypto trading in the city. People’s Bank of China Cracks Down on Coin Trading in Shenzhen The branch of China’s central bank in Shenzhen is cracking down on illegal cryptocurrency trading, the Chinese business news outlet Cnstock.com revealed Tuesday. As part of the new campaign, the PBOC has…

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Introducing Cardana ($CARD)

What is Cardana? Cardana is a decentralized lending platform. It is built on a peer-to-peer (P2P) model in which borrowers and lenders interact directly without the need of a bank, broker, or financial intermediary. Cardana allows lenders to provide liquidity and receive interest in return, and allows borrowers to borrow any amount they want for however long by providing collateral, eliminating the need for any registration or Know Your Customer (KYC) processes. It’s de-fi at its finest — a crowdfunding lending platform for everyone, everywhere, at any time. Why start…

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How to Survive Unstoppable Regulations Coming to the Crypto Market

The Securities and Exchange Commission (SEC) Chairman Gary Gensler proclaimed the crypto space to be the “Wild West” while calling for regulations to protect crypto investors. In fact, he is not the only one. Since the early days of Bitcoin, the crypto ecosystem was something close to the California Gold Rush days. Times that presented opportunities for making large amounts of wealth but many at times at the expense of a vulnerable few; no rules or regulations in place to protect the ones being exploited. Governments in both big and…

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Treasury Dept. wants to ‘capture DeFi’ with infrastructure bill: Jake Chervinsky

General counsel to Compound Labs, Jake Chervinsky, has warned that the Treasury Department wants to “capture” the DeFi sector through the crypto provisions added to the infrastructure bill. The last-minute cryptocurrency provisions added to the U.S. infrastructure bill sought to “capture DeFi,” argues Compound’s general counsel Jake Chervinsky. Appearing on the Bankless State of the Network podcast on August 17, Chervinsky — who is also DeFi Chair of the Blockchain Association — said the industry had been “blindsided” by the infrastructure bill’s crypto tax provisions which were announced just nine…

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