​​ Stay up to date with Nimbus digest! Some things never ch | NIМВUS | Official News Channel

​​ Stay up to date with Nimbus digest!

Some things never change and the FUD about the crypto ban in China is one of them. This week a series of media outlets spread the news that the world's second-largest economy declared all transactions involving cryptocurrencies such as bitcoin illegal and stepped up a crackdown on illegal mining of them in the country. What they forgot to mention is that similar crackdowns have been announced already years ago, the only difference is that this time regulator has blocked access to major cryptocurrency-related websites, including CoinGecko, CoinMarketCap, and TradingView via its internet firewall. Someone is scared of losing control over its monetary system… but let’s be honest, eventually decentralization will win.

Despite growing regulatory pressure, Coinbase released a new function that allows users to get paid in bitcoin and other cryptocurrencies by enabling direct deposit of paychecks into Coinbase accounts. By the way, PayPal, SoFi, Chime, and Robinhood already offer crypto-related services to go along with their core products. Revolut, on the other hand, is looking to launch its token. Do you think we will see Facebook, Amazon, Google, or maybe JPMorgan coins too?

Last but not least, where do you think is the center of the crypto economy now? According to Chainanalysis in Central, Northern, & Western Europe (CNWE). Curiously, an influx of institutional investment, signaled by large transactions, drove most of the growth, though retail activity also increased.