Latest news about ban/regulation, Coinbase enters politics, Crypto saves Ukraine, and situation with Mt. Gox!

What happened this week in the crypto space??

GM! This is Mateusz Kara.

And you've just found the best place in the crypto space to know more about the blockchain industry. I'm also giving you updates on my biz.

In Today's edition:

1/ Crypto: ban – no, regulations – yes

2/ Coinbase is building a cryptocurrency political community

3/ Will bitcoins after Mt. Gox flood the market and cause a crash?

4/ Cryptocurrencies saved Ukraine

Sounds interesting? I think so.?

Let's dive deeper into the crypto rabbit hole:

1/ Crypto: ban – no, regulations – yes

Many investors are still concerned that Crypto could be banned. Is there such a threat? Yes, but it is minimal, as confirmed by reports from the G20 summit.

US Treasury Secretary Janet Yellen admitted in an interview with Reuters that the United States does not want a "complete ban on activities related to cryptocurrencies." Washington plans to move towards regulating this market.

A similar tone was expressed by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF).

"We are definitely in favor of regulating the world of digital money, and this is our top priority," she said in an interview with Bloomberg.

She only pointed out that the IMF wants cryptocurrencies to be recognized as assets, not means of payment.

This is accompanied by the liberalization of China's policy. Recently, Hong Kong announced that it would allow cryptocurrency exchanges to register on its territory. This will make the city a hub for citizens throughout the country, enabling them to invest in bitcoins and altcoins. According to many experts, this will drive another bull market.

2/ Coinbase is building a cryptocurrency political community

The above fits into an interesting initiative by Coinbase, the leading cryptocurrency exchange in the United States.

The company is launching Crypto435. It's about engaging blockchain supporters in each of the 435 congressional districts in the United States.

The task of "cryptocurrency advocates" will be to put pressure on politicians from the bottom up to get them interested in regulating the industry and understanding the potential of new technology.

What do you think about organizing such an initiative in Poland?

3/ Will bitcoins after Mt. Gox flood the market and cause a crash?

Another concern of cryptocurrency investors is that the trustee in charge of Mt. Gox will soon pay out 142,000 bitcoins to creditors of the failed exchange. These can theoretically immediately "flood" the market and cause a crash. But is there anything to be afraid of?

Let's start by explaining that Mt. Gox was the largest cryptocurrency exchange until the end of 2013. It collapsed as a result of a hack attack. Unfortunately, along with the funds of its customers. The bankruptcy procedure lasted for many years, but it is coming to an end this year. In September, the trustee is to begin paying out the aforementioned funds, which is causing many investors to be nervous.

However, UBS investment bank experts have good news. According to their analysis, the chances of these masses of bitcoins going directly to exchanges are slim.

First of all, bitcoins will be sent to creditors in stages, not all at once in one day. In addition, former Mt. Gox customers have a choice: either receive the funds in fiat currency or bitcoins. Theoretically, the first option is a threat because it forces the trustee to sell cryptocurrencies. However, it is doubtful that all creditors will choose this option.

In other words, UBS experts point out that the funds will be paid out to creditors in installments, and some of them will not sell their bitcoins but will continue to hodl them, which will effectively protect us from a crash.

This is another issue that you can breathe a sigh of relief over!

4/ Cryptocurrencies saved Ukraine

Finally, some great news that shows cryptocurrencies can save lives!

Ukraine has been fighting the Russian invader for over a year now. Since the beginning of this defensive war, the digital currency community has sent 28.9 million USD in ether, 22.8 million USD in bitcoins, and 11.6 million USD in tether to blockchain addresses. Additionally, transfers of other tokens were made. In total, they collected 70 million USD, which was then spent on weapons and first aid supplies for conflict victims.

"We were able to secure the purchase of necessary items in a short time with the help of cryptocurrencies, and, amazingly, about 60% of the suppliers were able to accept cryptocurrencies, I didn't expect that," said Alex Bornyakov, the Deputy Minister of Digital Transformation, to Yahoo Finance.

He also pointed out that if Ukraine had used the "traditional financial system" at that time, raising money "would have taken several days."

This is the best example of how revolutionary and necessary blockchain technology is.

ARI10 COMPANY UPDATE ??

Ari10 Gateway integration with Metamask wallet address completed!?

When you enter the Gateway purchase panel, you will notice the Metamask logo in the address space, then just click on it, and your wallet's address will automatically add, without worrying about rechecking and verifying.

The world's largest cryptocurrency has just arrived at Ari10 Gateway!?

Bitcoin, along with its native network, is now available for purchase in our core product for all Bitcoiners and Crypto enthusiasts.

At Ari10 Gateway, buying BTC is simple, fast, and secure. Plus, there's no need to go through KYC procedures for purchases up to $500.?

We're confident that our product provides an exceptional experience that Satoshi Nakamoto himself would use – if he hasn't already!

So, check and convince yourself why our Gateway is the perfect place to buy and sell Cryptocurrencies.

And that’s all for today. Thanks for your time, investors & Crypto Geckos! ?? ????

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Thanks for your feedback and see you next week!?

Mateusz Kara