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Coinbase screws up, Florida bans CBDCs, and Ordinals face controversy: Hodler’s Digest, May 7-13

Calls for a boycott of Coinbase over memecoin controversy, Florida’s ban on CBDCs, and the effects of Bitcoin Ordinals on the BTC network.

Bakkt delists majority of tokens from recently acquired Apex Crypto platform

The delisting included major tokens used in DeFi; the company said it was following “up-to-date regulatory guidance.”

US lawmakers target perceived risks of crypto adoption in El Salvador with reintroduced bill

The legislation appeared to be another attempt at the Accountability for Cryptocurrency in El Salvador Act, originally introduced after the country's Bitcoin Law was enacted.

Binance calls it quits in Canada, blames new rules

Binance is the latest in a string of departures from CEO Changpeng Zhao’s home country; it promises to keep working with regulators.

Coinbase establishes advisory council with former US lawmakers

Former Senator Patrick Toomey, former Representative Tim Ryan, former Representative Sean Patrick Maloney, and others will advise Coinbase on crypto policies.

The US should promote USDC — before it's too late

USDC brings stability to cryptocurrency. It would behoove the financial system if policymakers took measures to foster its adoption.

President Biden announces nominations for key positions at Federal Reserve

Leadership at the Fed will likely have an impact on how the U.S. government handles the potential issuance of a central bank digital currency.

Florida governor signs CBDC bill into law, restricting some uses of US and foreign CBDCs

The new law, signed by Governor Ron DeSantis, also urges other states to take action against the potential introduction of CBDCs through their commercial codes.

UAE infrastructure for crypto is more ‘business-friendly’ than the US, says exec

Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse also expressed their sentiments over US regulation at the Dubai Fintech Summit.

Forget Cambridge Analytica — Here’s how AI could threaten elections

While disinformation is an ongoing issue that social media has only contributed to, AI could make it much easier for bad actors to spread disinformation.

Terra Luna founder Do Kwon's bail terms officially accepted by Montenegro court

The Montenegro court accepted the offered bail in the amount of $436,000 per person for Do Kwon and his former aide Han Chang-joon.

SEC beyond crypto: HSBC and Scotia hit with fines over WhatsApp use

Both HSBC and Scotiabank have not been very supportive of the cryptocurrency industry's adoption in recent years.

Romania harnesses AI for data-driven policy recommendations

Officials in Romania have created and employed an AI-powered robot to source community concerns and turn the collected data into policy recommendations.

Texas votes to add crypto into state’s bill of rights

Texas lawmakers vote to add digital currency to the state's Bill of Rights, granting individuals the right to use digital currencies like Bitcoin for trading.

‘It’s going to get worse for banks’ — JPMorgan CEO on overregulation

JPMorgan CEO says the Fed should be less focused on adding more rules and regulations for banks and more on fixing the banking crisis.

Binance.US seeking to cut Changpeng Zhao's majority stake: Report

Changpeng Zhao is the crypto exchange's founder, majority owner and chair. He is also the CEO and co-founder of the global crypto exchange, Binance.

US Chamber of Commerce slams SEC's ‘haphazard’ regulation efforts

The largest business organization in the world has thrown its weight behind Coinbase in its fight against the SEC.

Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express

IRS wants $38B in unpaid taxes from Alameda, Milady token surges 3,000%, restraining order for Arthur Hayes over 3AC “threatening” words.

US House financial committee tells SEC they don’t like custody proposal

The letter criticizes the proposed rule for its impact on the banking industry, particularly in ways that would be disadvantageous to the digital asset industry.

Federal Reserve's FedNow will integrate with Metal Blockchain

The integration will allow users to instantly convert cash to stablecoin for use in DeFi protocols.

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