 Welcome to digital asset news to get top stories and cryptocurrency digital assets and break them down to bite-sized pieces Today, we're going to talk about how what seems to be bad news Actually, that'd be pretty good news and the first up Indian banks halting services to crypto industry post RBI clarification post banning. So we're going to take a look at how India The actual banks are Side-stepping the reserve Bank of India and kind of doing their own thing and trying to do their own due diligence and hinder Crypto adoption. So we'll take a look at that on top of the fact that's uk regulator Bans Binance from regulated activities in the country and I want you to make notice of what they say here is Regulated activities not entirety as far as Binance So over those two pieces and lastly We're going to take a look at what is going on with this new project called meld and I'm going to go over this really quickly and we'll do a deep dive over at dan eclipse and then before we go over the Market itself. I just want to make mention of this is one of our new layouts So we did one yesterday where we had some bigger fonts and some bigger graphics and countdown timer people said things were just too big so we Condensed them and put everything off the left side Also, we're going to do like a little bit of timer right here for four minutes for each section Just to keep things going and we made it very small so you can know exactly how long each segment is But this is kind of like a recommendation And we may go a little bit shorter may go a little bit longer just depending But it's about that that time frame for what we're doing So first of all what we'll do is we'll go over the headlines and the market recap Which we just did now we'll take a look at what's going on as far as like the market cap 1.3 trillion There you go. That's the big thing and just so you know, there's a little bits of of a of a pump going on Which is odd because usually on a sunday which we're looking at june 27th about 2 p.m. I'll pass with texas time Bitcoin's up almost 4% pretty good. I thought it was 28,000 and i'm glad I was wrong Ethereum is up Ted didn't know what he cares finance coin is that wow 0.0 stagnant 3% everything's up a little bit I think the only big one is yeah internet icp internet computer protocol program whatever And that one was I mean that one used to be up by like over like 150 bucks. It's really taking a big hit So sure 7% of crypto.com anything really big 2% 1% and now so Today's a pretty good day for a sunday It used to be sunday dumps now looks like sometimes it was like a monday or tuesday But you never know what the crypto market and that's why I always preach about dollar cost averaging and just buying and holding And then uh doing your your due diligence for different projects to get in at the right time So that's what's going on in the market and uh, that is a big thing So real quick just want you to notice that uh for this new format Just let us know what you think about that if you like it over there on the left hand side as as we go through Put in the comments below and let's uh, let's jump in shall we so First up we've got a nice little piece here about india india banks and uh Kind of to hinder crypto adoption. So what's happening? Several indian banks have reportedly halted services the customers Dilling and crypto despite the central bank or the reserve bank of india In front of me that the banning circular is no longer valid. This has been going on for for years now uh the um central government and the rbi and the um Supreme court of india said no, we're not going to ban crypto and it is it is illegal And we're just going to let that go now now the banks are coming in and saying no, no, no We want to still hinder this and do our due diligence So we'll see how that works out and this was a quote idfc first bank which from the banks are in india over the past week Temporarily stopped all services as is doing enhanced due diligence regarding banking support to crypto exchanges Now this is actually going on in america in certain banks I've seen Different things on twitter and reddit where different customers said hey, they won't let me use it And this is just small banks or even sometimes even big banks just going You know what we want to you know hinder the the progression, but they really can't stop it and uh, we'll take a look at What places like ny dig partnerships have done to advance things So the central bank out of that banks may continue to carry out customer due diligence processes In compliance with existing regulations Bitcoin and other cryptos are not banned in india both the government and the rbi have confirmed so just Make mention of that is when people ask you about are they talking a lot? Well, I heard china banned bitcoin and in mining operations. Yes, they did But all those miners are all coming over to north america europe and and kazakhstan So that's actually good and then people say, ah, what about india banning crypto currency? They didn't ban cryptocurrency just some banks They want to be uh, do their due diligence and it was kind of you know Shuffling their feet as a lot of different people in india are actually demanding high demand for crypto And then to finish up, uh CEO and co-founder of crypto exchange unicorn said this While the rbi reserve bank of india has clarified its stance that the banks can provide services After their due due diligence, it is abruptly insane For these banks to take their foot back these kind of reactions also alarm the investors of cryptocurrencies for the wrong reason And that's why we have this channel this channel and cryptos are us and guy of our coin bureau and uh Diddy from the bitcoin family and i show she and alex masculine all the different channels. I love to watch Uh, this is why we do what we do because there's so much foot out there If you just rely on the mainstream media, you'll never get the whole story and I think that's why uh youtube is is crushing traditional news out there because people really want to hear exactly what's going on And just get different opinions than what is spoon fed to them. Just my opinion. That's all I can tell you so Again, we take a look at this like oh, that's bad news. That's not really bad. It's just one little piece of puzzle Now, let's take a look at what's happening with banks When they try to actually work it all out and move forward So we've got here n y dig partnership could bring bitcoin to your credit union. This is an old story Get a couple weeks old. Actually this is on june 24. I guess a week old Uh are three days old four days old This is When we talk about banks who just get it This is how banks are going to compete small mid Small to mid banks are going to be able to compete with the big banks by offering crypto services So when india tries to do these things and go, you know, no, we don't want to do it There's going to be small banks like if you don't want to do it There's customers out there that will and what does take those customers from you? That's the great thing about free market So institutional bitcoin shop n y dig partnered with texas fintech firm q2 To provide bitcoin access to q2 is 18 million users q2 is a behind-the-scenes player providing online banking software to order over 450 small and medium-sized banks credit unions including texas security bank mercantile bank in scotia the partnership with n y dig will allow q2's institutional partners provide customers With access to buy sell and hold bitcoin to their bank accounts and again If you got the well as far as of the world the chases the pick your bank They're crushing these smaller banks and these mid-sized banks because they really have a stranglehold Well, now the small banks are like, you know what we know how to compete with you We'll just embrace this new opportunity that comes to us and allow people to do Buy sell and hold bitcoin through the bank accounts I think this is a wonderful proposition and this is all based on client demand based on gene condo the vice president communication so When you see these type of things going on you're like, well, you can do those things But just remember that banks are closing down as well Once the last time you actually walked into a bank to do anything everything's online. Why do we need banks? I honestly don't understand if it wasn't for all these regular all these crazy regulations as far as like businesses I would just have everything through voyager quite honestly And when they do their debit card i'll be closing my accounts because i'll be keeping Uh my cash in usdc at nine percent or eight percent wherever else it is And then on top of that just so you remember All that all that fud about uh chinese bitcoin miners. Take a look at this picture These are the types of miners that are just being shipped out of china and going to places like Maryland like texas when we had our little interview with chat harris of windstone and also uh in in uh, uk england and europe with ebraham alcurd ceo of new mine So when we talk about like oh, this is there's bad news out there and there's fud it is just that fud Just take a look at the flip side of the coin and it really is good. So let me know what you think about These two types of stories. I think There's actually good things on the horizon So let's talk about some banning or what is going on in the uk. So next up We've got an interesting story about how Binance uk is actually banning Binance uk regular is a binancing is uh Is a banning binance so the fca which the fca is the financial conduct authority Announced out of the binance markets limited and the binance group do not hold any form of authorization to conduct Regulated activities in the uk But are offering but still offer citizen a range of service online So basically they can still do exchange type things But not things such as futures and options trading because those are regulated So the uk is like stop that you can't do that and binance is like no, yeah, we can like okay fine So binance has been asked to stop undertaking any regulated activity in the uk by june 3 It's like a three days the fca is also ordered binance to display a notice on its website and social media That is not permitted to undertake any regulated activity in the country And just so you know not that this is an awful story. It's just that they can't do Futures and options. So no big deal people can still get their crypto. I'm okay with that The fca is known to drill crypto firms before offering registration today If you watch daggers only approved five crypto companies and all this time to gemini archucks zigloo Digi vault and diginex Uh mode global holdings. That's it. They're kind of like as thin as stringent as uh, uh, new york They don't let anybody get their bit license for some reason Binance itself reportedly applied to become a crypto Registered crypto company with the fca but pulled that application last month following intensive agreement from the wash dog And to finish up the news comes at a time when binance is said to be under scrutiny by regulators in the us europe and warnings from japan over its unregistered operation so again options and futures I mean if you want to play that game and and do those things it's it's not my it's not my thing I think if we could just get to the point of allowing people to Buy and sell cryptocurrency just like what it is Then I think people will be a lot happier. So that question is why does binance go through all the hoops and everything else? It's because of money Because binance the largest crypto exchange in the world by trading volumes. They recorded over one and a half trillion worth of trading volumes last month And of course if they can do they do a little bit of leverage trading I think three to five x maybe and of course they can get options futures in there just even more money But in my opinion, it's not working out. Just let it go and the last thing I'll say is like this First of all, here's the actual official announcement from the fca When we take a look at these things and people are like, ah dang regulation and how come they do that? Look, it's like this in my personal opinion I would like to get a little regulation because China had regulation and just went off the rails They just had way too much and just forced Crypto just to leave and they really just shut it all down because they could do that They're a government country I feel bad for the Chinese people because look they had a great opportunity and now because the government That's it and now they're going to push through the digital you want and they don't like what you're doing They're probably just shut down your wallet. That's awful awful but Here hopefully in europe North of north america we can see some regulation come through and give us clarity To where we can actually do the things that we're supposed to or should be able to do and then all these different Institutions can get and go. Okay. Now. I know what they want now. We can push forward now We can do these things So when we see this the story about you know, uh, binance and and how it's getting it's first of all It's just it's just a small subset of their operation I for one thinks think a little regulation goes a wrong long way and we can do with it just to give some clarity So we can see where we can go and I think Hopefully when xrp beats the pants off the sec, uh, then we can get that that that's a clarity on crypto So let me know what you think in the comment section and let's move on to our last piece which is meld.com so meld James introduced this to me james over at crypto am and uh we talked to this the uh the ceo ken And really what this is and this is crazy. It's not crazy. It's just I think it's genius But I got to get ken on here to explain it a little bit better So first of all, just so you know, it's built on the cordano. So it's all these smart contracts. This is going to happen in august There is let me just show you when it goes down here. This is how it works Take out a loan kind of like Celsius, right? You use the meld app choose how much you do and you can It's as crypto as a collateral or 2x the amount you like to borrow you get cash And then you use cash whatever whatever you need But you earn yield in your crypto your crypto collateral is added to your meld's liquidity pools To generate yield and work for you for the entire lifespan alone So in other places when you get a loan that crypto comes out That crypto comes out and they loan that out to wherever they they whatever they do with it Whether that be for uh market makers or arbitrage or whatever else they do alex machinsky explains to me you can watch the video I'll link at the very end and um, but in this situation it's you actually First of all, you get to keep your private keys, which is pretty crazy Then it actually gains you yield as it just sits there Which is great and he also gets used the money So they're going to do a lot of different things They could be staking it could be yield operations liquidity provider And that will help to pay off the loan and the way that ken was talking about it is like you take this loan and the loan pays for itself and i'm like Just like what I'd say it was it was hard to understand because i'm not that smart So that's why i'm counting here to to explain it later actually On digital asset news we only do the news and dan clips we do for more for the advanced things in different products So that'll be over on dan clips. I just want to make mention of what's going to happen You pay back the loan and then you regardless of your borrowing lending stake and you're holding your always earning yield from the crypto in your meldap so Ah, that's all I really want to talk about the rest of it. I haven't done my due diligence I just wanted to make mention and say that we'll be doing this later and that's it. So Let me just think about that. That's pretty interesting how that all works out and that is it for today. So my final thoughts are just this There's a lot of things going on in the market and some are good some aren't so great but when we take a look at these stories just remember that's and inevitably Things usually work itself out and if you're worried about about the markets I can't tell you what to do I can just tell you what I do which is just a dollar cost average in And uh, I just kind of buy and hold and I think there's a lot of things coming on the pipe I think The rest of july is going to be kind of a wash is going to be like a build up But then in august a lot of things are going to happen. I mean, we see probably on a smart contracts london forky ip 15 59 We see a lot of different things with bitcoin, especially with Uh, the futures and options being expired with that So I think there's going to be a little bit more fireworks later on just this next month It's going to be kind of boring and we'll see how it all goes. But I still believe in the market. I still i'm pretty bullish So let me just think about that in the comment section. That is it for today. So look if you made it all this way to the end Thanks, I appreciate it. Give it a thumbs up. Give it a like consider subscribing I think we talked about here are very time sensitive and that's it for today. So thanks a lot. I appreciate it We'll see you on the next one