4.8 • 689 Ratings
🗓️ 10 January 2020
⏱️ 17 minutes
🧾️ Download transcript
China’s digital currency project continues to move ahead aggressively, with a new paper from the People’s Bank of China suggesting that a core design is complete. Whatever stage of development the currency actually is, it’s clear that China wants the world to see it as ahead of the curve in the digital currency race.
In other parts of the world, crypto companies face a never-ending game of regulatory arbitrage. Derebit has moved from the Netherlands to Panama, citing a new burden from AMLD5 compliance. In the U.S., New York wants to give its crypto regulators (even) more teeth while Illinois recognizes the legality of blockchain-based contracts.
Topics Discussed:
PBoC paper claims “top-level” design of crypto currency complete. https://www.theblockcrypto.com/linked/52616/chinas-central-bank-says-it-has-completed-top-level-design-of-digital-currency
Zuck leaves out Libra in Faceboook 2030 vision
Derebit leaves the Netherlands for Panama due to AMLD5 compliance concerns
https://www.coindesk.com/dutch-derivatives-exchange-deribit-to-move-to-crypto-friendly-panama
Gov Cuomo wants to give NYFDS more teeth
https://www.coindesk.com/new-york-governor-proposes-giving-financial-watchdog-more-teeth
Illinois recognizes legality of blockchain-based contracts
https://www.coindesk.com/illinois-legalizes-blockchain-contracts
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1:03.7 | Welcome back to the breakdowndown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
1:07.1 | The Breakdown is distributed by CoinDesk. |
1:16.4 | Welcome back to the Breakdown. What's going on, guys? It is Friday, January 10th. And today we're going to be talking about what I think is probably the most significant shaping factor in our entire |
1:23.3 | industry, which is the role of governments in the crypto industry, and in particular, China and the |
1:29.6 | rest of the world responding to China getting into the digital currency game. So we're going to |
1:34.4 | talk a little bit about the latest news from China around its digital currency project. |
1:39.4 | Then we're going to look at some new regulations going into effect in Europe and what they |
1:43.5 | might mean and what they're |
1:44.5 | actually doing vis-a-vis crypto companies. And then third and finally, we're going to look at a |
1:48.9 | couple different examples of U.S. regulatory arbitrage within different states and how |
1:54.4 | state-level regulation is impacting crypto companies as well. But first, let's start with China. |
2:04.5 | In my estimation, the most significant narrative or story of last year of 2019 was the combination of Libra and China's response to Libra. |
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