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Cryptocurrency, Blockchain, and Fintech News Headlines Update on February 23, 2021

Coinbase Invest $1.5 Billion in Bitcoins for Tesla on the First Week of February, according to sources from The Block.

“We hope these kinds of deals will be a watershed moment for the crypto economy, and look forward to helping more companies diversify their cryptocurrency capital allocation strategies,” said Brett Tejpole, head of institutional sales at Coinbase last December.

Office of Foreign Assets Control (OFAC) Settles Sanctions Case Against BitPay. BitPay will pay $507,375 on allegations that enabled individuals in sanctioned jurisdictions like Ukraine’s Crimea region, Cuba, North Korea, Sudan, Iran, and Syria to transact with people in the U.S. engage over 2,100 transactions approximately $129,000 worth of cryptocurrencies between 2013 and 2018. Read more in:

China Banking and Insurance Regulatory Commission (CBIRC) Imposes Further Restrictions on Online Lending by Commercial Banks via Third-Party Online Platform. In response to problems encountered in the implementation of rules for commercial banks engaging in online lending activities issued in July 2020, new rules require banks to contribute no more than 70% of the capital when providing loans through an online lending platform, take effect on 17 July 2022. Read more in CBIRC > 中国银保监会办公厅关于进一步规范商业银行互联网贷款业务的通知

Shopee had acquired Bank Kesejahteraan Ekonomi (Bank BKE) with the aim to transform it into a digital bank. Indonesia’s Financial Services Authority (OJK) is currently preparing new regulations for digital banks. Read more in Reuters > UPDATE 1-Indonesian banking regulator says Sea Group’s Shopee acquires Bank BKE

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