Happy Wednesday, Blockfolians
It’s the 5 year anniversary of the NY BitLicense. While the program was designed to be a model for smart crypto regulation, what it did in practice was drive companies like the Kraken exchange out of the state.
To celebrate the anniversary (well, more to use it as a teachable moment), CoinDesk did a series of articles on it, including:
The BitLicense is a fascinating case study in the global competition for business. New York may have thought that they were getting out ahead of the curve, but the reality is they pushed a huge amount of talent to other places. Every jurisdiction needs to make the decisions it thinks are right, but they also must remember that they’re competing with every other place doing the same thing.
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Highly Relevant Reading
The USDC stablecoin is moving to a multichain network architecture, starting with Algorand
Uh oh - Brazil has put a halt to WhatsApp’s recently launched payments service
DeFi tokens doing that 2017 thing as Balancer’s governance token surges 200% in its first day trading
$188m worth of ETH that is associated with the PlusToken Ponzi has moved for the first time since December
Like it or not, Venezuela’s Maduro government is stackin’ sats
Javier Bastardo🏴☠️🫓 @criptobastardo@pavlenex @BtcpayServer @pagos_saime @Cointelegraph Take a look, @pavlenex https://t.co/ewG65G9ZsZ
Is the real power of crypto in its permissionlessness not its decentralization?
A Really Big Number We Should Be Paying Attention To
That’s the value of the bitcoin options set to expire on Friday. As one commenter put it: “this is definitely the largest BTC option expiry by a country mile.”
Meme warfare is real.