The third richest man in Mexico, Ricardo Salinas Pliego, has doubled down on his support for Bitcoin, revealing plans to open the first BTC accepting bank in the country.
On June 27, the Mexican billionaire tweeted his support for the widespread adoption of BTC, noting that his bank is “working” to become the first in Mexico to accept the world’s leading digital asset.
The comments follow a massive endorsement for Bitcoin by Salinas, who stated that it was “absolutely right” to think of Bitcoin as the new gold.
BTCChina, the operator of China’s oldest Bitcoin (BTC) exchange, is no longer in the crypto business, according to some reports. The company sold its stake in the Singapore-registered Bitcoin exchange ZG.com to an unidentified foundation in Dubai, Chinese news agency The 21st Century Business Herald recently reported.
According to the report, ZG.com is a completely independent crypto exchange business with registrations in the United States, Singapore, Estonia, Seychelles and other countries. BTCChina reportedly invested in ZG.com in January 2019.
According to a report by the South China Morning Post, BTCChina said that it was exiting the Bitcoin business “in response to the Chinese government’s policy,” alluding to the major crackdown on crypto mining activity and related activities in the country.
Founded back in 2011 by Huang Xiaoyu and Yang Linke, BTCChina was forced to stop trading cryptocurrencies in October 2017 following the Chinese government’s ban on crypto trading. The company then sold its exchange operations to a Hong Kong-based blockchain investment fund. The exchange continued to operate under the name BTCC, except for customers with a Chinese IP address.
Despite India’s uncertain regulatory climate regarding crypto assets, nationwide investments in digital assets have increased by roughly 19,900% over the past year.
According to data from blockchain analytics firm Chanalysis that was reported by Bloomberg on June 28, crypto investments increased during mid-2020 before going parabolic as the markets surged into new all-time highs towards the end of the fourth quarter.
Chainalysis estimates the total invested in crypto across India grew from $200 million to $40 billion over roughly the past year, with the firm estimating 15 million Indians are exposed to cryptocurrency.
The data illustrates the positive impact of the Indian Supreme Court’s March 2020 decision to overturn the Reserve Bank of India’s ban on financial institutions providing banking services to firms operating with digital assets.
This Daily Dose was brought to you by Cointelegraph.