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India Proposes Crypto Ban; Metaverse Race Heats Up
Korean government to review harsher penalties for crypto crime. India bill proposes ban on private cryptocurrencies. Race for the metaverse heating up. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”

El Salvador’s Ambassador to US on Central American Country’s Bitcoin Ambitions
Milena Mayorga, Ambassador of El Salvador to the U.S., discusses El Salvador’s bitcoin ambitions following President Nayib Bukele’s plans for the world’s first “Bitcoin City”– a low-tax, net-zero municipality financed primarily by a $1 billion bitcoin bond listed on Bitfinex.

El Salvador Wants to Build ‘Bitcoin City’ With Major Tax Incentives
El Salvador, the only country where bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency by market value. “Bitcoin City” will have no income, property, capital gains or payroll taxes.

Is There a Bullish Breakout Ahead for Bitcoin?
Needham & Co. Vice President John Todaro discusses his positive assessment of the crypto markets despite continuing to see red over the past week. “We’re still in a bullish macro set up here for bitcoin and cryptocurrencies more broadly,” Todaro said. “We do have around $100K bitcoin [price target] in Q1 2022.”

Bitcoin Still Trading in Bullish Channel Despite Price Support Break
New data reveals bitcoin’s broader outlook remains constructive despite the recent pullback. The largest cryptocurrency by market cap fell below its support level of $57,653, the Oct. 23 low, which has paved the way for a deeper pullback. “All About Bitcoin” host Christine Lee breaks down the Chart of the Day.

Biden to Release 50M Barrels of US Oil to Lower Gas Prices
As part of an effort to combat high gas and oil prices for Americans, U.S. President Joe Biden has ordered the release of 50 million barrels of oil held in the nation's Strategic Petroleum Reserve. "The Hash" panel discusses the potential repercussions for the crypto industry.

Binance Rebuilding DOGE Wallet to Deal With User Account Freeze
“The Hash” hosts react to crypto exchange Binance trying to rebuild its wallet to fix a technical issue resulting in numerous erroneous dogecoin transactions and frozen user accounts. The incident caught the attention of Tesla CEO Elon Musk, who started a Twitter war with Binance CEO Changpeng “CZ” Zhao.

NFT Music Platform Royal Closes $55M Funding Round Led by a16z
Just three months after a $16 million seed round, Royal, the music tokenization platform launched by crypto-friendly DJ and entrepreneur Justin "3LAU" Blau, closed a $55 million Series A raise led by Andreessen Horowitz (a16z). "The Hash" team discusses the implications for tokenized royalties and the wider role of blockchain in the traditional music industry.

Crypto on the Agenda for December House Financial Services Committee Hearing
Digital assets are on the schedule for a hearing of the House Financial Services Committee over the next month. CoinDesk's Global Policy & Regulation Managing Editor Nikhilesh De discusses what we know so far and what we can expect. Plus, his views on industry reactions to U.S. President Biden nominating Jerome Powell for a second term as Fed Chair.

Another E-CNY Scam Busted, SCMP to Tokenize History
Inner Mongolia e-CNY scam busted. Hong Kong’s South China Morning Post to release news archives as NFTs. DeFi emerges as an enabler for pricing assets. We’ll have more on those stories and other news shaping the cryptocurrency and blockchain world in this episode of "The Daily Forkast."
