I think that we're hitting an inflection point where governments are recognizing the simple fact

that crypto is here to stay. Despite all the economists and journalists who have cried bubble for so

many years, it simply isn't going away on its own. Because of that, governments are now

drawing their lines about what they will and what they won't tolerate. Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexo.io and circle and produced and distributed by CoinDes.

What's going on, guys? It is Monday, June 29th, and today we are talking about the UK

Binance Ban. First up, however, let's do the brief. First on the brief today, Indian investments

in crypto are absolutely popping off. Chainalysis released a report saying that Indians have invested $40 billion

in crypto markets this year. That's up from 200 million last year. Daily trading values are up

about 900% in the last 12 months. The headline Bloomberg went with was even gold-obsessed

Indians are pouring billions into crypto. One younger investor was quoted as saying,

I'd rather put my money in crypto than gold. Crypto is more transparent than gold or property,

and returns are more in a short period of time. In total, there are now more than 15 million

Indian crypto investors. India, meanwhile, still doesn't have legal clarity about crypto, but it does

seem like the worst-case scenarios of outright bans are increasingly unlikely.

Next up on the brief, the first Mexican bank to accept Bitcoin.

Ricardo Salinas Pliego is the 166th richest person in the world and one of the richest men in

Mexico. He tweeted this weekend to

Michael Saylor saying, me and my bank, Bank Oesteka, are working to be the first bank in Mexico to

accept Bitcoin. Sailor had commented on a video shared by Pomp where Salinas was seen discussing

how he had witnessed hyperinflation firsthand and why he thinks all fiat currencies are fraud.

...