Two regulated banks in Argentina are set to allow their customers to buy and sell cryptoassets on their platforms. Argentina is among the world’s top 10 countries with the highest cryptocurrency adoption rates, according to Chainalysis’ Crypto Adoption Index.

Over 50 of bitcoin’s biggest advocates have signed a letter addressed to the Environmental Protection Agency (EPA) defending BTC mining and pushing back recent claims made by a group of U.S. House Democrats.

Blockchain network Algorand (ALGO) has inked a partnership with FIFA to become a regional supporter in North America and Europe for the 2022 FIFA World Cup and of the FIFA Women’s World Cup in 2023, while assisting the organization in developing its “digital assets strategy.”

Sponsored: In 2017, Invictus set out to fundamentally change the asset management industry. Invictus' officially regulated funds are now institutional grade products with industry leading fees and very accessible minimum requirements.

Top stories in the Crypto Roundup today:

• Two Argentine Banks Start Allowing Customers to Trade Crypto
• Bitcoin Mining Council Defends Activity in Letter to EPA
• Algorand to Assist FIFA in Developing ‘Digital Assets strategy’
• Chart of the Week: Exchange Mapped coins vs. YTD Volumes
• Sponsored: Invictus Capital spearheads the world's first regulated and tokenised mutual fund

Two Argentine Banks Start Allowing Customers to Trade Crypto

Two regulated banks in Argentina are set to allow their customers to buy and sell cryptoassets on their platforms. Argentina is among the world’s top 10 countries with the highest cryptocurrency adoption rates, according to Chainalysis’ Crypto Adoption Index.

Banco Galicia, one of the largest private banks in Argentina, confirmed on social media that it has added cryptocurrency trading to its website, allowing customers to buy and sell Bitcoin, Ether, USDC, and XRP.

The move to add cryptocurrency trading to the bank came amid high customer demand, with 60% of respondents in a survey asking for easy access to crypto through their banks.

Crypto adoption has grown in Argentina as the country deals with recurring currency crises and inflation topping 50% annually. Most Argentines have said in studies they invest in crypto to protect their savings from diminishing purchasing power.

Shortly after Banco Galicia’s crypto trading feature was revealed, Brubank revealed it would also let its users buy and sell crypto, with the functionality being “progressively enabled” for its users. Brubank offers BTC and ETH trading, as well as stablecoins USDC and DAI.

Bitcoin Mining Council Defends Activity in Letter to EPA

Over 50 of bitcoin’s biggest advocates have signed a letter addressed to the Environmental Protection Agency (EPA) defending BTC mining and pushing back recent claims made by a group of U.S. House Democrats.

Last week, 20 House representatives co-signed a letter to EPA administrator Michael Regan calling for an investigation into the potential negative consequences of BTC mining, referencing electronic waste from hardware replacement, greenhouse gas emissions, and the reopening of former gas and coal plants.

MicroStrategy CEO Michael Saylor revealed the response to the letter on social media after organizing it with the help of the Bitcoin Mining Council, a coalition of mining and mining-adjacent firms.

The group’s letter said the Representatives’ letter is “premised on several misperceptions about Bitcoin and digital assets mining,” and adds that its backers agree that “by embracing the Bitcoin Network and bitcoin mining, the United States of America will be more innovative, economically resilient, and ultimately stronger into the future.”

Signatories include Block CEO Jack Dorsey, Galaxy Digital’s Michael Novogratz, SkyBridge’s Anthony Scaramucci, Fidelity’s Tom Jessop, Benchmark Capital’s Peter Fenton, and more.

Algorand to Assist FIFA in Developing ‘Digital Assets strategy’

Blockchain network Algorand (ALGO) has inked a partnership with FIFA to become a regional supporter in North America and Europe for the 2022 FIFA World Cup and of the FIFA Women’s World Cup in 2023, while assisting the organization in developing its “digital assets strategy.”

In an announcement, blockchain technology was explained in the context of non-fungible tokens (NFTs), implying Algorand will assist FIFA with the development of its own NFT collection.

The blockchain network will also provide an “official blockchain-supported wallet solution” as part of the partnership. Algorand joins cryptocurrency exchange Crypto.com in sponsoring the 2022 FIFA World Cup.

Chart of the Week: Exchange Mapped coins vs. YTD Volumes

This week’s Chart of the Week goes into the number of mapped coins on various cryptocurrency exchanges compared to the total volumes on these exchanges so far this year.

Typically, exchanges with a larger number of listed coins have larger volumes, although most volumes come from a small subset of cryptocurrencies. Binance has nearly half as many listed coins as HitBTC, but has recorded over three times more volume year-to-date.

Invictus Capital spearheads the world's first regulated and tokenised mutual fund

Invictus Capital has become the world’s first fully regulated, tokenised, and administered mutual fund in the world.

In 2017, Invictus set out to fundamentally change the asset management industry. Invictus' officially regulated funds are now institutional grade products with industry leading fees and very accessible minimum requirements.

Invictus fund tokens now represent legal ownership of the underlying fund shares and a wide range of benefits are now available:

• In the new fund structure, tokens represent shares of the mutual funds, providing investors with security and peace of mind.

• An independent board of directors has been appointed, ensuring a strong corporate governance system.

• Fund assets and the financial health of the funds are verified regularly by independent external auditors.

• Fully compliant with global AML and KYC regulations.

Disclaimer:

Cryptocurrency trading involves high risk, and is not suitable for all investors. Before deciding to trade cryptocurrencies, tokens or any other digital asset you should carefully consider your investment objectives, level of experience, and risk appetite.

Its content does not constitute financial advice. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice.

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State of the Crypto by Top Tier Exchange Volume

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