Hello Everyone!

Here are some crypto updates for you to keep up with the times! Don't read the news, we'll read it for you.

---

1. California Bill Proposes Crypto Tax Payments for Cannabis Businesses

California Assembly Bill 953 (AB-953), if passed, will allow for payment of taxes in Stablecoins.

The bill defines Stablecoins as a digital asset that is pegged to the US dollar which serves as its collateral.

California joins a growing list of jurisdictions introducing cryptocurrencies as a medium for taxation.

DailyHodl

2. Binance Dangles $100K in Crypto to Get Users to Test Its DEX

Binance is hoping to boost the number of people testing its upcoming decentralized exchange (DEX) platform by giving away $100,000 in tokens.

The initiative, he said, would help the exchange launch the mainnet, or live version, of Binance DEX more quickly.

There would be 2 categories of prizes for the offering; one to see users issue and list the tokens, and the other to see how users trade and achieve returns on the DEX.

CoinDesk

3. Blockstream Releases Upgrade of Its Bitcoin Lightning Network Implementation

Blockstream has released a new version its of c-lightning implementation according to an official blog.

The main new feature is plugin supports, which allow developers to extend the capabilities of the software with plugins written in any programming language.

According to LN growth-tracker 1ML, LN experienced an increase of 19% in Nodes, 40% in Channel, and 18% in Network capacity (total Bitcoin locked) all within the past 30 days.

CoinTelegraph

---

And now, a special knowledge section from research done by reputable sources!

---

📄"Can JPM Coin disrupt the existing stablecoin market?"📝

Binance Research published a research paper to scrutinize the ramifications of the highly sensational JPM Coin launch.

Here are some takeaways from the paper:

• JPM Coin is a private (not available to the public) stablecoin backed 1:1 to their fiat reserves.

• JPM Coin marks the first experiment of a new type of stablecoin that would rely on private blockchains.

• JPM Coin and the Ripple ecosystem are currently focusing on improving different aspects of traditional finance, meaning direct competition is unlikely.

• While JPM Coin does have the potential to materially impact traditional financial services, it will not displace liquid, publicly traded stablecoins in the near-term.

---

Follow us on Steem!
Vote of @coingecko as Witness