Here’s what happened this week in Bitcoin in 99 seconds.
Belorussian leader, Alexander Lukashenko, last week called for a large Bitcoin mining center to be constructed near the country’s new nuclear power plant which is expected to be fully operational by 2020. Belarus has already developed a special economic zone, the High-Tech Park, with significant tax breaks for IT and crypto companies.
Sweden’s largest political party, the Social Democratic Party, tweeted that the Swedish Krona was abolished in favor of Bitcoin and renamed its account to “Bitcoin Democrats”. Swedes were further surprised by tweets about rising taxes and crime stats. It was revealed later that the account had been hacked by a group of hackers who wanted to raise the attention to security gaps.
Cryptocurrency exchange Coinbase is expanding crypto-to-crypto conversions and trading services to 11 more countries. The San Francisco-based firm announced that customers in several countries in South-America and Asia can now access crypto-to-crypto exchanging services. The company said that it is offering the services via both Coinbase.com as well as Coinbase Pro, its professional trading platform.
And finally, Andrew Yang, a Democratic candidate in America’s 2020 election, issued a statement arguing the need for uniform regulations for cryptocurrency. Yang said that different rules for crypto among various states and agencies create unnecessary confusion. Yang also referred to New York’s BitLicense as “onerous” and detrimental to the growth of crypto in the US.
That’s what happened this week in Bitcoin. See you next week.