OTC’s Weekly Retrospect 13/12–16/12/2021

Every week we take a look back over the week’s biggest Bitcoin and Digital Asset stories making waves in the cryptosphere.

Major news stories this week;

1. Ukrainians Offered New Crypto Services, Bitcoin Cards
2. Binance to tie up with Dubai on crypto activities.
3. Norwegian Block Exchange to Set Stage for Landmark Cryptocurrency Listing on Euronext Stock Exchange
4. Binance Withdraws Singapore Bourse Application, Closing Local Trading Platform by Feb
5. Jay-Z and Jack Dorsey to Fund Bitcoin Development in Africa and India with $24.5M
6. UK Bans Crypto Ads by Papa John’s Pizza, Coinbase, Etoro, Luno, Kraken

Story Summaries;

1. Along with the growing popularity of cryptocurrencies, Ukrainians are enjoying an expanding range of related services and products. Besides new options to buy and trade coins, crypto users in the country will be offered two cards that will allow them to spend their digital currencies in stores and online.
2. Binance will soon sign a memorandum of understanding with Dubai’s government for crypto-related activities, the Business Times reported, citing unidentified individuals with knowledge of the matter. Dubai is regarded as a candidate for the company’s global headquarters, and the company has been strengthening ties with the United Arab Emirates, according to the report.
3. Norwegian Block Exchange is trying to avoid the traditional IPO process and instead aims to list its stock directly, thus allowing investors to trade its shares immediately at a market-based price. The exchange has eight cryptocurrencies trading on its platform and about 20 trading pairs available. The Financial Supervisory Authority of Norway approved and is supervising NBX.
4. The unexpected move by the Singapore affiliate of the world’s largest cryptocurrency exchange ended an effort that started last year to win approval from Singapore’s authorities. The company will shut down its trading platform in the city-state by February 13, 2022, Binance Asia said in an emailed statement to Bloomberg.
5. To enhance the penetration rate and adoption of Bitcoin on African and Indian soils, American rapper Shawn Corey Carter, popularly known as Jay-Z, and Jack Dorsey, the co-founder of Block Inc. and former Twitter CEO, are to give away $24.5 million in BTC for this objective.
6. The U.K. advertising watchdog has banned several cryptocurrency ads, including those by Papa John’s Pizza, Coinbase, Kraken, Etoro, and Luno. The authority says the ads are “misleading” and “irresponsibly taking advantage of consumers’ inexperience.”

Wishing you a happy and relaxed weekend ahead from all of us here at OTC Supply… Happy Thursday!