OTC’s Weekly Retrospect 20/09–24/09/2021

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

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Major news stories this week;

1. El Salvador Buys More Bitcoin — Country Now Holds 700 BTC
2. US Sanctions Russian Crypto Broker Suex for Laundering Millions in Illicit Funds
3. Iranian Lawmakers Oppose Crypto Restrictions, Call for Supportive Regulations
4. Ukraine legalizes virtual assets — here’s what the new law says
5. Hebei province joins block reward mining clampdown in China
6. BitOasis to be registered in GoAML.

Short Summaries;

1. El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has purchased more bitcoin. The Salvadoran government now holds 700 coins, according to President Nayib Bukel. According to cryptocurrency ATM tracking website Coinatmradar.com, El Salvador now has 205 crypto ATM locations, making it the country with the third-highest number of crypto ATMs, behind only the U.S. and Canada.
2. The U.S. Treasury Department has blacklisted Suex, a cryptocurrency broker based in Russia, for its money laundering activities. The platform is suspected of processing hundreds of millions of dollars in crypto transactions related to scams, ransomware attacks, darknet markets, and the infamous BTC-e exchange.
3. Members of the Iranian parliament, the Majlis, have voiced concerns over Tehran’s restrictive policies towards innovations such as cryptocurrencies. Following the release of a study recommending a new approach towards the crypto industry, lawmakers have called for the adoption of friendlier regulations.
4. All across the globe, we’re seeing crackdowns by governments who have had enough of the schemes and scams in the space. We’re also seeing forward-thinking governments embrace the legal, useful aspects of the industry and the legit blockchain technology that started it all. This month, Ukraine became the latest nation to legalize and regulate virtual assets.
5. Hebei province has become the latest region in China to crack down on digital currency block reward mining. The cyberspace administration in the northern Chinese province has started a special campaign targeting the miners, stating they go against China’s goal of becoming carbon neutral.
6. The Executive Office of Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) has welcomed the confirmation that BitOasis will be registered with the UAE Financial Intelligence Unit’s (UAE FIU’s) reporting platform, GoAML, helping to add yet another layer of security for both fintech start-ups and the national economy.

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