πŸš€Who said you can't pay your rent with crypto?🏠

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    πŸš€Who said you can't pay your rent with crypto?🏠

    How's the midweek madness, Geckos?


    After months of consultation, the UK has proceeded to ban all forms of crypto derivatives which will take effect on January 6, 2020.


    The UK's Financial Conduct Authority estimates that Β£53m worth of loss could be prevented as inexperienced buyers would be restricted from entering the market.


    However, many commentators believe that the ban will be ineffective as it would just drive consumers onto unregulated exchanges outside of the UK.


    In today's news, DeFi hits a new milestone, Kyrgyz introduces new regulations, and paying for rent through Reddit gets real. 


    Read on!

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    Total Value Locked for DeFi hits $18 billion


    As we bask under the height of both Bitcoin (BTC) and Ethereum's (ETH) climb, the TVL for DeFi has set a new record of attaining $18 billion. 


    According to DappRadar, the sizable growth is led by an existing asset supply that dramatically increased in value as opposed to an increased net inflow of assets.


    Nevertheless, it should be noted that there appears to be a growing influx of assets into Sushiswap as the DEX has been attracting large volumes of liquidity. 


    CoinTelegraph

    The Kyrgyz Republic tightens their grip


    The National Bank of the Kyrgyz Republic (NBKR) is about to introduce two drafts that would increase both KYC obligations and anti-money laundering regulations.


    A growing interest in cryptocurrencies amongst the citizens has led to calls for more governmental regulation.


    The proposed regulations would require local crypto exchanges to report their activities in order to combat criminal activity.


    Bitcoin.com

    Mooning for Rent


    The pandemic has devastated global economies, leading many people to lose their livelihoods, including an anonymous reddit user by the name of satoshinakamoto7.


    However, the user realised that he/she had accumulated over 14,000 MOON tokens which are earned by posting on r/Cryptocurrency.


    Satoshinakamoto7 said "I am grateful to this sub, who have tolerated my posts,". "You all have put a roof over my head for a month! Grateful!"


    CoinTelegraph

    Mnemonics

    Mnemonics are memory aids with a system such as letters or associations that help in recall. *see Mnemonic Phrase.


    Decentralized Finance (DeFi) refers to the movement of building decentralized financial applications that have no central authority and is censorship free. DeFi applications cover many use cases and a few popular ones are stablecoins, lending/borrowing and trading (decentralized excanges). By removing the middleman in systems, DeFi applications are able to achieve a better rate of returns for its users, while lowering barrier of entry as the application does not discriminate or censor any particular party from joinLearn about other Crypto terms here

    Read more on CoinGecko

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