News for the week of 14 June

Big one: El Salvador makes Bitcoin an official currency (along with its current one, the US dollar). Interestingly, the president said it would make remittances to the country from its expatriates easier – most other countries see cryptocurrency as a way for money to leave the country. Here is Bloomberg on the news.

Moneycontrol, the Indian business website, has a profile of the Indian founder of Polygon, a project to ‘scale’ decentralised applications written on the Ethereum blockchain. In the Indian press, Polygon is an example of an Indian crypto success story.

Indian authorities launched an investigation into WazirX, a prominent Indian crypto exchange, over allegations of money laundering. Specifically, that Chinese nationals had converted the proceeds from online betting apps into cryptocurrency and then moved them out of WazirX into a foreign crypto exchange.

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