In today’s edition of Crypto Daily News, we cover why Vitalik Buterin slammed centralized cryptocurrency exchanges, the Philippines making moves in cryptocurrency, and HBUS’s opening in the United States.
Crypto Daily News: Vitalik Buterin Hates Centralized Exchanges
On July 6th, Vitalik Buterin spoke in a ‘fireside[1]‘ chat with Jon Evans at the TechCrunch Session focused on the blockchain. Most of the session was about Buterin’s hate for centralized cryptocurrency exchanges.
“I definitely hope centralized exchanges go burn in hell as much as possible,” Buterin told Evans heatedly.
His ideal situation would be to have crypto-to-crypto exchanges, but those are a long way from making their way to the market. There would be no ‘login’ or ‘sign up,’ and the money would be sent to a wallet or an output address. The exchange would only act as an input/output tunnel.
Buterin’s biggest frustration with centralized exchanges has to do with the fees associated with them. Some exchanges charge $10 – $15 million to let people trade their tokens on the exchange.
Ultimately, the Ethereum co-founder feels it would be difficult to live in a world where everything is either centralized or decentralized because everyone has different needs.
Crypto Daily News: The Philippines Makes Progress in Crypto
The Bangko Sentral ng Pilipinas (BSP) has just approved[2] two new cryptocurrency exchanges. Now, there are five total approved exchanges within the country, but it seems there are far more still pending approval.
29 crypto exchanges are waiting for approval in the Philippines. Its central bank approved 5 crypto exchanges.
Philippines also created a tax-reduced area for crypto startups.
Meanwhile, India is unfairly punishing its exchanges with a “ban,” which will only lead
