FT News Briefing Laos welcomes cryptocurrency miners
Sep 17, 2021
Laos is boldly stepping into the crypto world by authorizing cryptocurrency mining and trading, thanks to its abundant hydropower resources. Meanwhile, the European Central Bank anticipates reaching its inflation target by 2025. The podcast also sheds light on the ongoing struggles of Myanmar's shadow government against military forces. Plus, it examines the challenges regulators face in monitoring cryptocurrency activities amidst rising criminal concerns and the impact on traditional banking.
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Laos Embraces Crypto
- Laos has authorized cryptocurrency mining and trading, despite previous warnings against crypto.
- This move leverages Laos's hydropower surplus, offering a greener approach to crypto mining.
Crypto Hedge Funds Outperform
- Crypto hedge funds are significantly outperforming other assets, with returns of 145% this year.
- Their success comes from exploiting crypto's volatility and price inefficiencies.
Regulators Target Crypto On/Off Ramps
- Regulators aim to control crypto's intersection with traditional finance (on/off ramps) to combat illicit activities.
- This approach targets money laundering by monitoring the flow of traditional currencies in and out of crypto exchanges.