Kiffmeister’s #Fintech Daily Digest (06/15/2021)*

Tanzanian president urges central bank to prepare for crypto

In the wake of El Salvador’s move to make Bitcoin legal tender, Tanzanian president Samia Suluhu Hassan urged the country’s central bank to begin exploring crypto assets. A number of lawmakers in Latin American countries have also expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender, including Paraguay, Argentina, Panama, Brazil, and Mexico.  

Bitcoin price back above $40,000 after Elon Musk comments

The price of bitcoin hit a three-week high on Monday, climbing back above $40,000 after Elon Musk said that Tesla would resume allowing transactions made in the digital currency once crypto mining becomes greener. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing bitcoin transactions,” Musk said in a tweet on Sunday, June 13. Traders also reacted to hedge fund manager Paul Tudor Jones’ assertion he could “go all in on the inflation trades,” during an interview with CNBC on Monday. Jones said he “likes bitcoin” and wants a 5% allocation of it with the same percentage in gold, cash and commodities.   

Thailand tightens rules for crypto exchanges and bans meme, fan, NFT tokens

Thailand’s Securities and Exchange Commission announced new rules that restrict crypto exchanges from providing services related to meme tokens such as Dogecoin, fan tokens or tokens issued by influencers, non-fungible tokens and exchange tokens (proprietary coins issued by crypto exchanges that can be used to trade and pay fees). After publication in the Government Gazette, the Notification has become effective from 11 June 2021 onwards without retrospective effect.

Polkadot (DOT) is launching on Coinbase Pro

Coinbase Pro has begun accepting inbound transfers of DOT, and trading will begin on or after 9am Pacific Time (PT) Wednesday June 16, if liquidity conditions are met.

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