OTC’s Weekly Retrospect 08/08–12/08/2022

Each week we bring you a round-up of the most important Bitcoin and virtual asset-related stories making waves in the cryptosphere.­­­­

Major news stories this week;

1. Circle freezes USDC funds in Tornado Cash’s US Treasury-sanctioned wallets
2. BlackRock launches a private trust to give clients exposure to spot bitcoin
3. The Number of Cryptocurrency ATMs Installed Worldwide Surpasses 39,000
4. Iran makes $10M import with crypto, plans ‘widespread’ use by end of Sep
5. Dozen Crypto Companies Await Portugal License Despite Bank Account Closures

Story Summaries;

1. Centre, the consortium behind the USD Coin (USDC) stablecoin, has blacklisted wallet addresses controlled by Tornado Cash following the US Treasury sanctions against the crypto mixer.
2. BlackRock has launched a private trust offering institutional clients in the U.S. direct exposure to bitcoin. The largest asset manager in the world revealed the new product in a blog post Thursday, though it was light on detail.
3. This week the number of cryptocurrency automated teller machines (ATMs) operating worldwide has surpassed the 39,000 mark. Since January 2017 when the count was approaching 1K machines, the number of crypto ATMs has grown by 3,925% since then. Crypto ATM numbers saw exponential growth during the last 23 months since September 1, 2020, when there were less than 10K machines worldwide.
4. Prolonged economic sanctions against the Islamic state have forced Iran to start using crypto as a medium of exchange for international trade deals. Struggling through decades of economic sanctions, Iran has placed its first international import order using $10 million worth of cryptocurrency, according to a senior government trade official.
5. The central bank of Portugal is now reviewing 12 requests from businesses that want to provide crypto-related services in the country. The applications are pending decision amid recent reports that some commercial banks are closing accounts of already approved operators.

And that’s all for this weeks news! Wishing you a great weekend and as always, Happy Friday!