The Ledger: Jake Paul shills dodgy projects, Ukraine legalizes crypto

There have been many shifts in blockchain and crypto space these past few days with Ukraine making a definitive stride towards the legalization of its crypto industry.

Crypto has become an important part of Ukraine’s financial network as it continues to face attacks by Russia. Many donations have come from abroad in the form of bitcoin, ethereum and other currencies.

As Ukraine is opening up to crypto, China is once again working to clamp down on attempts to operate the industry in any form that reaches beyond state control. Authorities in China seized 190 EV charging stations which were used as part of an illegal cryptocurrency mining ring.

Meanwhile, private enterprise has been thriving. Coinbase reaffirmed its commitment to purchasing another $500m worth of crypto as part of its balance sheet. Visa is also looking to explore further opportunities in crypto space.

A new Crypto Development Program will look to hire college graduates and onboard them on the 18-month initiative to boot the company’s expertise in the sector.

Meanwhile, Binance and FTX have gained a license in the Middle East. This comes at the same time that Dubai has introduced its own crypto regulations which will dictate the future of the sector in the region.

Elsewhere, countries have also been examining how to best address their ties to cryptocurrencies. El Salvador, the first nation to openly embrace bitcoin as a legal tender, has confirmed it will be delaying BTC bonds.

Currencies have remained mostly intact the past few days, but a tweet by Elon Musk did spur dogecoin, BTC and ETH upwards. Japan has in the meantime issued a formal warning to crypto exchanges in the country that may inadvertently or purposefully collaborated with Russian sanctioned parties.

Essentially, Japan is falling in line with a global coalition against crypto and fiat wealth that is currently under international sanctions.

The US announced the KleptoCapture task force which will be chasing sanctioned wealth across the world in a bid to uncover both FIAT and digital assets hidden away by targeted parties.

Speaking of illicit ways to make wealth, we touched on research that argued that Jake Paul, the famous streamer-turned-fighter, may have made as much as $2m backing various crypto projects, most of which turned out to be duds.

If you want to avoid such projects yourself, we strongly recommend you stick to fair and safe gaming websites such as 1xBit, FortuneJack and Bitcasino.io.

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Updated: 03/18/2022 — 11:00