• 703:Coinbase, Hamas, and the Fed’s CBDC Doubts

  • Oct 19 2023
  • Length: 17 mins
  • Podcast
703:Coinbase, Hamas, and the Fed’s CBDC Doubts  By  cover art

703:Coinbase, Hamas, and the Fed’s CBDC Doubts

  • Summary

  • (00:00.0-03:18.5) - Coinbase, Hamas and Crypto Dilemma - This segment delves into how reports of Hamas using cryptocurrencies have rattled the crypto world. The situation has complicated lobbying efforts by Coinbase for crypto-friendly U.S. regulations. The segment examines the balance between crypto's features of anonymity and the need for security measures against terrorism financing.

    (03:18.5-06:06.0) - Binance.US: No More USD - Binance.US has revised its terms, eliminating direct USD withdrawals and pushing users towards stablecoins. This move not only distances the platform from traditional banking but also signals a larger shift in the crypto community towards financial sovereignty amidst increasing regulatory pressure.

    (06:06.0-08:20.5) - CBDC Alert (US) - Federal Reserve Board Governor Michelle Bowman expressed skepticism over the U.S. adopting a Central Bank Digital Currency (CBDC). She suggests that existing solutions like FedNow could offer similar benefits without the associated risks. The segment examines the ongoing federal hesitance to move towards CBDCs.

    (08:20.5-10:32.0) - EU Crypto Tax Rule Overhaul - The European Union has implemented the DAC8 directive, tightening crypto tax rules and requiring stringent reporting of transactions. This regulatory shift, which received overwhelming parliamentary support, adds complexity for individual investors and crypto firms alike.

    (10:32.0-12:16.0) - Reddit's Token Shutdown - Reddit is discontinuing its Community Points rewards program, citing scalability issues and evolving regulatory conditions. The move highlights the challenges social platforms face in integrating crypto-based incentives and signals caution for similar initiatives.

    (12:16.0-14:17.0) - BlackRock's Crypto Inclination - BlackRock CEO Larry Fink’s recent comments indicate a growing institutional interest in cryptocurrencies. The firm has even applied for a spot Bitcoin ETF. This segment discusses the cautiously optimistic endorsement of crypto’s potential by major financial institutions, despite regulatory uncertainties.

    Crypto Overnighter Podcast (10/18/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

    Email: nick@cryptoovernighter.com

    Salem Friends of Felines: https://sfof.org/

    Twitter: https://twitter.com/CryptoCorvus1

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