Hey Folks, This week was quite frustrating for me. It seems a | Coin Bureau Insider

Hey Folks,

This week was quite frustrating for me. It seems as if Barclay's here in the UK started a bit of a trend with their moves against Binance deposits.

There was no rationale for them stopping the deposits. They claimed that it was as a result of the FCA notice. But, as the FCA itself clarified post their nortice, this did not apply to the Binance Global entity - the entity that was still permitted to operate:

https://decrypt.co/74608/binance-not-permitted-to-operate-in-the-uk-british-financial-watchdog

So, there was no real legal requirement for Barclays to do what they did. My feeling is that they felt uneasy about the funds being sent there and were on the lookout for an excuse to stop the payments. This provided it to them.

Other banks were then in a similar position and saw this as the ideal moment to stop the flow.

I was hopeful that other banks would not follow suit. But alas, they did. This included my own bank (Santander) who made similarly patronising claims about protecting our funds.

This is just Binance though as it is still working for my other fiat on/ off-ramps including Swissborg.

I will, however, be looking at other account options to diversify my risk away from one bank. I am actually also considering doing a video on the most pro & anti crypto banks out there. Feel free to comment on this tweet of mine if you would like to opine:

https://twitter.com/coinbureau/status/1413862504661389313

In the end though, the best way to vote is with your funds. While it is a pain to open new bank accounts, they have to understand that we in the crypto community have options...

Now, while regulations seem to be getting a bit tighter in the US & Europe, South America seems to still be bucking that trend. If you watched my recent video on adoption on the continent you will know why.

Two other positive news stories that stuck out for me this week on the continent were those emanating from Argentina and Paraguay.

Firstly, in Argentina, a lawmaker has proposed a bill that would allow employees and service exporters to receive their full or partial salary in crypto.

https://www.coindesk.com/argentine-lawmaker-proposes-bill-for-businesses-to-pay-employees-in-crypto

While it is still just a proposal, if it does come to pass, it could greatly benefit citizens that are used to some of the most volatile monetary conditions in the world.

https://twitter.com/michael_saylor/status/1342103494698926080

Then, over in Paraguay, it seems as if another Bitcoin bill will be presented to parliament this Wednesday.

https://twitter.com/carlitosrejala/status/1413584882060734473

This according to the pro-Bitcoin Senator who has been pushing legislation since El Salvador made its moves over a month ago.

Now I am under no illusion that these are still far from being adopted as law and I am not trying to blow hopium smoke. But what it does show is the green shoots of adoption in the Emerging world - at a time when things are getting more restrictive for us here.

I will be covering this and much more in my newsletter tomorrow!