Linear Finance(LINA)

[PRESS RELEASE – London, United Kingdom, January 25th, 2024] The Icons Collection will present NFTs and physical artworks, exclusively available for sale on LiveArt this January — benefiting the Trussell Trust LiveArt is pleased to announce a groundbreaking collaboration with pioneer multi-disciplinary artist Chris Levine to introduce his first NFT collection, Icons. Launching this January, […]

Thai users have demonstrated a strong inclination toward trading digital assets.

In this week's issue of The Protocol newsletter, we're highlight blockchain developers named in CoinDesk's Most Influential list just out, including Blockstream's Lisa Neigut, Polygon's Jordi Baylina, Base's Jesse Pollak and Optimism's Karl Floersch.

One of Ethereum's biggest scalability layers, Polygon, is at the forefront of a new tech trend with the launch of its zkEVM.

The public sector should continue to prepare for CBDC deployment, IMF Managing Director Kristalina Georgieva said.

International Monetary Fund Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies.

IMF Managing Director Kristalina Georgieva says digitalization is “the most important way” to scale up financial inclusion.

While some altcoins have seen meteoric rises, others have displayed a rather unassuming price performance. However, two tokens that have recently caught the attention of the crypto community are Linear ($LINA) and Decentraland ($MANA). What makes them noteworthy is the sudden surge in whale transactions (3 months high), which have begun to appear on @santimentfeed’s […]

Prominent decentralized exchange Uniswap has confirmed that it has fired a prominent developer over his involvement in a $25,000 memecoin rug pull. The developer in question, AzFlin, or Allen Lin, orchestrated a rug pull hours after initiating the deployment of the FrensTech meme coin. Uniswap Moves To Fire AzFlin Allen Lin, the Uniswap developer at the center of the storm surrounding the FrensTech meme coin rug pull, has lost his job at Uniswap. The sacking was confirmed in a post on X by Uniswap founder Hayden Adams, with Uniswap moving quickly to distance themselves from the actions of their former employee. “Wanted to let people know this person is no longer with the company. Not behavior we support or condone.” AzFlin lost his job at the decentralized exchange following the FrensTech meme coin rug pull that saw investors lose 14 ETH, valued at around $25,900. The meme coin was launched on the social platform of the Coinbase Layer-2 base program, friend.tech. How The Rug Pull Was Orchestrated A pseudo-anonymous user on X going by the name UniswapVillain initially made the Uniswap community aware of the fact that AzFlin had rug-pulled a meme coin project just hours after creating it. UniswapVillain noted that AzFlin initiated the rug pull by withdrawing support that was previously added to enable the trading of the FRENs token. Once the project had accumulated 14 ETH in fees, AzFlin removed liquidity and pocketed all the funds collected by the project. The rug pull was orchestrated via the Hop Protocol, a decentralized bridge that allows users to transfer tokens between different blockchains. Furthermore, UniswapVillain added that the developer did not just remove liquidity from the project and meme coin. He also sold all the coins from which he had withdrawn the liquidity. He also added that the situation was particularly concerning, given AzFlin’s association with Uniswap, one of the most prominent decentralized exchanges. “Frenstech (@FrensTech) $FRENS was deployed a few hours ago by the dev, @AzFlina Uniswap employee. One hour and four minutes ago, he effectively rugged the project, moving 14 ETH off of Base chain through HOP. Multiple people have confirmed he is the dev, and there were numerous early Uniswap employee followers on Twitter. He removed liquidity he added from fees and pocketed 14 ETH of fees. He sold the tokens he removed from liquidity even. This is wild to me that someone who is doxxed and works for Uniswap would do this.” AzFlin Calls Sacking Net Neutral An unremorseful AzFlin called his sacking “net neutral,” boasting that he had gained 600 new followers and the status of a crypto villain on X. While people have wondered why someone who is doxxed and works for Uniswap would do this, AzFlin has remained unrepentant. The bad actor simply gave an update about losing their job on Twitter. “Got fired from UniSwap but gained new followers and Crypto Twitter villain status.” He also changed his bio on X, adding the words AzFlin “Unemployment arc” and further commented on the issue: "To those who think I rugged 14E: that came from dev taxes. It belonged to me. I know whatever I say, the low IQ CT narrative has already been spun. I will not comment further on this anymore, everything is on chain.” The Growing Menace Of Rug Pulls Rug pulls have become increasingly common in the crypto space in recent times, primarily impacting newer tokens and decentralized exchanges. This comes against the backdrop of major cryptocurrencies such as Bitcoin and Ethereum making record price moments that are not actionable, leaving investors desperate for a hefty profit. This is why traders should not buy into the hype of new projects and tokens pushed by influencers. Instead, they must do their own research and invest in reputable projects. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prominent decentralized exchange Uniswap has confirmed that it has fired a prominent developer over his involvement in a $25,000 memecoin rug pull. The developer in question, AzFlin, or Allen Lin, orchestrated a rug pull hours after initiating the deployment of the FrensTech meme coin. Uniswap Moves To Fire AzFlin Allen Lin, the Uniswap developer at the center of the storm surrounding the FrensTech meme coin rug pull, has lost his job at Uniswap. The sacking was confirmed in a post on X by Uniswap founder Hayden Adams, with Uniswap moving quickly to distance themselves from the actions of their former employee. “Wanted to let people know this person is no longer with the company. Not behavior we support or condone.” AzFlin lost his job at the decentralized exchange following the FrensTech meme coin rug pull that saw investors lose 14 ETH, valued at around $25,900. The meme coin was launched on the social platform of the Coinbase Layer-2 base program, friend.tech. How The Rug Pull Was Orchestrated A pseudo-anonymous user on X going by the name UniswapVillain initially made the Uniswap community aware of the fact that AzFlin had rug-pulled a meme coin project just hours after creating it. UniswapVillain noted that AzFlin initiated the rug pull by withdrawing support that was previously added to enable the trading of the FRENs token. Once the project had accumulated 14 ETH in fees, AzFlin removed liquidity and pocketed all the funds collected by the project. The rug pull was orchestrated via the Hop Protocol, a decentralized bridge that allows users to transfer tokens between different blockchains. Furthermore, UniswapVillain added that the developer did not just remove liquidity from the project and meme coin. He also sold all the coins from which he had withdrawn the liquidity. He also added that the situation was particularly concerning, given AzFlin’s association with Uniswap, one of the most prominent decentralized exchanges. “Frenstech (@FrensTech) $FRENS was deployed a few hours ago by the dev, @AzFlina Uniswap employee. One hour and four minutes ago, he effectively rugged the project, moving 14 ETH off of Base chain through HOP. Multiple people have confirmed he is the dev, and there were numerous early Uniswap employee followers on Twitter. He removed liquidity he added from fees and pocketed 14 ETH of fees. He sold the tokens he removed from liquidity even. This is wild to me that someone who is doxxed and works for Uniswap would do this.” AzFlin Calls Sacking Net Neutral An unremorseful AzFlin called his sacking “net neutral,” boasting that he had gained 600 new followers and the status of a crypto villain on X. While people have wondered why someone who is doxxed and works for Uniswap would do this, AzFlin has remained unrepentant. The bad actor simply gave an update about losing their job on Twitter. “Got fired from UniSwap but gained new followers and Crypto Twitter villain status.” He also changed his bio on X, adding the words AzFlin “Unemployment arc” and further commented on the issue: "To those who think I rugged 14E: that came from dev taxes. It belonged to me. I know whatever I say, the low IQ CT narrative has already been spun. I will not comment further on this anymore, everything is on chain.” The Growing Menace Of Rug Pulls Rug pulls have become increasingly common in the crypto space in recent times, primarily impacting newer tokens and decentralized exchanges. This comes against the backdrop of major cryptocurrencies such as Bitcoin and Ethereum making record price moments that are not actionable, leaving investors desperate for a hefty profit. This is why traders should not buy into the hype of new projects and tokens pushed by influencers. Instead, they must do their own research and invest in reputable projects. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The IRS decreed US crypto investors deriving income from staking services must include the fair market value of those rewards in the gross income the moment they gain control of those assets. The US Internal Revenue Service (IRS) has declared US cryptocurrency investors must include staking rewards as part of their gross income. According to the IRS’s directive, taxpayers must include the fair market value of staking rewards as soon as they gain control of those assets. Staking Rewards Become Taxable The IRS’s directive states that staking rewards in crypto become subject to income tax within the US the moment they are in the taxpayer’s possession. It declares the instant an owner is awarded units of digital assets as incentives for validation, their fair market value must be included in the taxpayer’s income in the tax year in which the staking rewards were obtained. The IRS specifies: “The fair market value is determined as of the date and time the taxpayer gains dominion and control over the validation rewards.” According to the IRS, general tax principles apply to property transactions and crypto transactions. Thus, any reward obtained through staking must be included within an individual’s gross income as it applies to rent, royalties, and compensation for goods and services. Further, the IRS states taxpayers compensated for goods and services through cryptocurrencies, including crypto miners, must also include the market value of the assets as part of their taxable income. The agency explains: “If a cash-method taxpayer stakes cryptocurrency native to a proof-of-stake blockchain and receives additional units of cryptocurrency as rewards when validation occurs, the fair market value of the validation rewards received is included in the taxpayer’s gross income in the taxable year in which the taxpayer gains dominion and control over the validation rewards.” The Future of Staking in the US Remains Unclear Staking services have been the topic of controversy in the US over the past six months. Uncertainty over staking services started when the SEC sued crypto exchange Kraken over its staking business, and Kraken agreed to suspend the service and pay a $30 million fine. Coinbase has pressed the SES for regulatory clarity surrounding the industry, specifically concerning staking. The exchange petitioned the securities agency to exclude staking from its definition of securities. Still, the SEC maintain staking services through intermediaries, such as in the case of Kraken, which meets the requirements of the Howey Test and qualifies as securities. Despite ongoing requests to the SEC to clarify staking, the agency has not yet offered any guidance or regulation. In light of the regulatory uncertainty in the US, Coinbase announced it suspended its staking services in California, New Jersey, South Carolina, and Wisconsin following preliminary order by local state regulators. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The IRS decreed US crypto investors deriving income from staking services must include the fair market value of those rewards in the gross income the moment they gain control of those assets. The US Internal Revenue Service (IRS) has declared US cryptocurrency investors must include staking rewards as part of their gross income. According to the IRS’s directive, taxpayers must include the fair market value of staking rewards as soon as they gain control of those assets. Staking Rewards Become Taxable The IRS’s directive states that staking rewards in crypto become subject to income tax within the US the moment they are in the taxpayer’s possession. It declares the instant an owner is awarded units of digital assets as incentives for validation, their fair market value must be included in the taxpayer’s income in the tax year in which the staking rewards were obtained. The IRS specifies: “The fair market value is determined as of the date and time the taxpayer gains dominion and control over the validation rewards.” According to the IRS, general tax principles apply to property transactions and crypto transactions. Thus, any reward obtained through staking must be included within an individual’s gross income as it applies to rent, royalties, and compensation for goods and services. Further, the IRS states taxpayers compensated for goods and services through cryptocurrencies, including crypto miners, must also include the market value of the assets as part of their taxable income. The agency explains: “If a cash-method taxpayer stakes cryptocurrency native to a proof-of-stake blockchain and receives additional units of cryptocurrency as rewards when validation occurs, the fair market value of the validation rewards received is included in the taxpayer’s gross income in the taxable year in which the taxpayer gains dominion and control over the validation rewards.” The Future of Staking in the US Remains Unclear Staking services have been the topic of controversy in the US over the past six months. Uncertainty over staking services started when the SEC sued crypto exchange Kraken over its staking business, and Kraken agreed to suspend the service and pay a $30 million fine. Coinbase has pressed the SES for regulatory clarity surrounding the industry, specifically concerning staking. The exchange petitioned the securities agency to exclude staking from its definition of securities. Still, the SEC maintain staking services through intermediaries, such as in the case of Kraken, which meets the requirements of the Howey Test and qualifies as securities. Despite ongoing requests to the SEC to clarify staking, the agency has not yet offered any guidance or regulation. In light of the regulatory uncertainty in the US, Coinbase announced it suspended its staking services in California, New Jersey, South Carolina, and Wisconsin following preliminary order by local state regulators. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The company has 400 MW of capacity spread across three continents, but most of its power is concentrated in Texas.

Russia's bill regarding the digital ruble is now signed into law and will take effect on August 1, 2023. Russia’s CBDC Legislation Finally Signed into Law Russia moves forward with the launch of its central bank digital currency (CBDC), digital ruble, thus taking a step towards crypto regulation in the country. The digital ruble legislation bill was first introduced to the lower chamber of the Federal Assembly of the Russian Federation, the State Duma, in December 2022. The bill passed its first reading in March 2023 and its third final reading on July 11, 2023. On July 24, Russia’s president Vladimir Putin finally signed the CBDC bill into law which is scheduled to come into force on August 1, 2023. The new law introduces amendments to several articles of the Russian Federation Civil Code. According to the law, the digital ruble will be treated as a means of cashless payment. Russia’s central bank will be the main entity responsible for the digital ruble’s infrastructure and the safety of the stored assets. How the Digital Ruble Is Expected to Work The digital ruble is primarily designed to be a means of payment or a money transfer method and not aimed at investment purposes. Russia’s central bank reported that transfers and payments in digital rubles will be free for regular citizens, although corporate clients will have to pay 0.3% of the payment amount. The authorities have referred to the digital ruble as a “new opportunity for citizens and businesses”. It’s also important to note that the use of the new currency in the country will be completely voluntary. “No one is going to force anyone into the digital ruble. Its use is absolutely voluntary, it is an additional opportunity for people: they can use it if they want to.” – said the governor of Bank of Russia, Elvira Nabiullina. The government authorities previously reported that trials of the CBDC were to be run in collaboration with 13 local banks that have passed the necessary technical stages of preparation. The digital ruble wallet and transfers should be available in any of the Russian banks’ mobile apps, although all the operations will be carried out by the Central Bank itself. The Bank of Russia highlights the reliability, security, and efficiency of the CBDC operations thanks to their centralized regulation. Olga Skorobogatova, the Bank of Russia’s deputy governor, compared the digital ruble to other digital assets: "the digital ruble is not a cryptocurrency or a stablecoin, where either there is no issuer, or it is not clear who it is." The mass adoption of the digital ruble in Russia is expected in 2025-2027. The CBDC could be a way to avoid sanctions against Russia imposed by the West when making cross-border payments. It could also be part of the effort to regulate the use of digital assets in the country. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The recent rebound of Bitcoin above $30,000 and the continuous growth of Bitcoin shark wallets are indicative of the market’s resilience and the ongoing interest of institutional investors.  Increase In Number Of Large Addresses The increase in the number of large addresses, often associated with whales, signifies growing institutional involvement and their inclination towards holding […]

The most exciting news in the industry this week has been Ripple’s partial win in the SEC case. Experts are opining that it could shake the market out of its rut. Let’s find out more. Bitcoin Judge Analise Torres of the Southern District of New York handed a partial win over to Ripple Labs after its three-year-long battle with the SEC. Bitcoin miners may face significant challenges due to the upcoming halving event, according to a new report by analysts from banking and finance firm JP Morgan. Europe’s highly anticipated and long-delayed spot Bitcoin ETF is finally set to debut later this year amidst huge anticipation surrounding its imminent arrival. The US Department of Justice is finally moving the BTC reserves it seized from the Silk Road, the notorious online marketplace predominantly used for illicit activities. Vanguard Group, which manages $7.2 trillion in assets, has significantly ramped up its investments in the bitcoin mining sector, with its total stake now exceeding $560 million. The UK’s FCA has shut down 26 cryptocurrency ATMs this year following a coordinated investigation with other law enforcement agencies. Standard Chartered Bank has presented an optimistic forecast for Bitcoin, suggesting that the leading cryptocurrency could touch the $50,000 milestone by the end of 2021. Satoshis are now being given out as rewards on Satlantis, a unique Bitcoin-themed Minecraft server. Democratic presidential candidate Robert F. Kennedy Jr had recently stated that he has not invested in Bitcoin, even though financial records prove otherwise. Ethereum The transactions per second on the Etheruem blockchain will receive a significant boost now that Starknet’s Quantum Leap upgrade has been deployed on the Ethereum mainnet. The Aave community members will be voting on whether to finally deploy gho ($GHO) on the Ethereum chain. DeFi protocol, Rodeo Finance, lost $1.53 million in Ethereum due to a code vulnerability exploitation in its Oracle. ConsenSys has announced the launch of its layer-2 network Linea, as the Ethereum ecosystem welcomed yet another scaling solution. DeFi 20-year-old Argentinian Federico Jaime has publicly claimed responsibility for the $200 million Euler Finance exploit and is now under arrest in a Paris prison. Kain Warwick, the founder of the Synthetix derivatives protocol, has introduced Infinex, a new decentralized perpetuals exchange. Uniswap users can now start swapping their Avalanche tokens on the Uniswap website, as the decentralized exchange has now launched on the Avalanche network. DeFi platform Arcadia Finance has reportedly been the victim of an exploit which allowed hackers to drain roughly $455,000. Altcoins The pronouncement by the SDNY judge that XRP can only be partially classed as a security led to a massive market surge. Polygon, the prominent Ethereum layer 2 scaling solution, is making strides towards a significant upgrade, changing its token from $MATIC to $POL. Technology Polkadot's founder, Gavin Wood, has proposed a major shift in how the blockchain network allocates resources. Coinbase has launched an encrypted messaging service on its self-custodial wallet app, using the open-source Web3 messaging network of Texas-based startup XMTP. Business Indonesia’s Futures and Commodity Trading Regulatory Agency will launch a national cryptocurrency exchange this month. Court documents have revealed that Zac Prince, CEO of bankrupt crypto lending firm BlockFi, ignored warnings from the company’s risk management team regarding exposure to FTX and Alameda Research. After a significant downturn in the crypto market, it appears that in the first half of 2023, the venture investment market, much like the price of Bitcoin, has found its bottom. Sam Altman’s Worldcoin has surpassed 2 million sign-ups for its World ID program in half the time it took to reach the first million sign-ups. Failed cryptocurrency exchange FTX recently launched its claims portal, allowing users from around the world to file a claim. Crypto data firm Arkham Intelligence is under fire after privacy-conscious users discovered that the firm has been irresponsible about user data. Regulation Ripple’s XRP skyrocketed by around 70% in the 24 hours after its landmark partial win over the SEC. Australian crypto investment firm, Monochrome Asset Management is working to introduce spot Bitcoin ETF on the Australian Securities Exchange. Coinbase has paused its staking operations in California, New Jersey, South Carolina, and Wisconsin as it continues discussions with their respective regulators. Alex Mashinsky, the former CEO of cryptocurrency lending platform Celsius Network, appeared in federal court last week, pleading not guilty to numerous charges, including securities fraud, commodities fraud, and wire fraud. Ripple CEO Brad Garlinghouse recently made statements which predicted a long wait before the SEC can file an appeal following Judge Torres' ruling on the Ripple case. NFT Starbucks’ Web3 loyalty program Odyssey has announced a collaboration with the Aku NFT collection. Security Blockchain security and analytics firm Chainalysis has suggested that the multimillion-dollar exploit of the Multichain Protocol could be indicative of a rug pull. Approval management platform Revoke introduced a new feature to combat a new crypto scam after users reported receiving "fake approval" requests that led to exuberant transaction fees. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The cryptocurrency giant pauses its staking operations in California, New Jersey, South Carolina, and Wisconsin as it continues discussions with their respective regulators. The United States-based crypto exchange is again in the news following the fierce back-and-forth between itself and the United States’ Securities and Exchange Commission (SEC). In a blog post yesterday July 14, the exchange announced a temporary suspension of its staking operations in the four states following preliminary orders by local state regulators. These states have laws enabling these agencies to issue preliminary orders even before legal proceedings begin. Other Fronts In Legal Action For Coinbase Apart from the aforementioned states, the exchange is also facing legal action from regulators in Maryland, Vermont, Kentucky, Illinois, Alabama, and Washington. Unlike the previous four states however, Coinbase’s staking services are unaffected and customers “remain eligible to stake crypto just as they were before.” These string of events comes after the SEC finally filed a lawsuit against the exchange last June 6. In the lawsuit, the agency alleged that the exchange acted as an unregistered broker, which the exchange has vehemently denied. Almost immediately, the respective regulatory bodies of the above-mentioned states initiated their own legal proceedings against Coinbase. Taking a Stand Coinbase however, remains unfazed by the lawsuit and the subsequent legal actions by local state regulators. It has reiterated its position that staking services are not securities and calls on the SEC to enact reasonable crypto policies instead of its current path of regulation-by-enforcement. “It might be the easier path to simply cut off staking services in the ten states that have initiated proceedings against us, but we believe that would be wrong as a matter of law, wrong for our customers, and wrong for the future of the cryptoeconomy,” the exchange said. After these statements, the exchange reiterated its call for the crypto community to come together for pro-crypto policies and make the U.S. a hub for crypto. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

According to the U.S. crypto exchange, only regulators’ actions in California, New Jersey, South Carolina, and Wisconsin require the pause in staking additional assets.

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Road Town, BVI., July 12th, 2023, ChainwireAs a leading digital asset exchange, LBank is focused on providing its users with quality tokens to trade. This week it is listing three new assets: SFL, AGF, and USHA.On July 10, LBank listed SFL, the native token of Shuffle. Shuffle is an O2O hybrid blockchain-based mobile payment solution operated by THE HUMANPLUS Inc., a system integration and development company headquartered in Seoul, Korea. Shuffle is striving to create new economic opportunities by connecting FinTech and blockchain. SFL is its mainnet coin, with the network based on a fork of EVMOS.On the same day, LBank listed AGF, a Sharia-compliant utility token targeting the Halal economy and based on gold assets. This ERC20 token is geared at the market of 2 billion people in the halal economic zone. It will operate as an Asian economic token that will be developed in cooperation with the Indonesian government and the Indonesian royal family.On July 16, the next asset to be listed on LBank will be USHA. uShark (USHA) is striving to become the cryptocurrency equivalent of Nasdaq, serving as a universal exchange for numerous companies worldwide in the angel, pre-seed, and seed stages, while offering exceptional opportunities for its investors.For the week running from July 3-9, LBank listed multiple tokens including GPX, WOOO, and BOBO. The latter climbed 92% after opening for trading on LBank. DOGE20, another new asset, also did well, climbing 25% in a week, while VMPX soared an impressive 47%. Other newly listed assets that hit the ground running include SHIB2 (73%), PIG2 (52%), WPEPE, and PENDLE (86%). Finally, last week saw LBank list LBR (63%), LINA (103%), TYPE (an incredible 24,864%) and Naxion’s NXN.About LBankLBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users' funds and aims to contribute to the global adoption of cryptocurrencies.Start Trading Now: lbank.comCommunity & Social Media:Telegram l Twitter lFacebook lLinkedIn lInstagram lYouTubeContactLBK Blockchain Co. [email protected]

The International Monetary Fund (IMF) Managing director has recognized the role that Central Bank Digital Currencies (CBDCs) could play in increasing financial inclusion and making cross-border payments and remittances cheaper and quicker. These remarks were made by Kristalina Georgieva, IMF Managing Director, on June 19, 2023, at the High-level Policy Roundtable on Central Bank Digital […]

The bill aims to study the benefits of holding Bitcoin as a potential hedge against inflation and much more.

The study would examine the possible impact of holding crypto and how the state would custody a digital currency.

The concept of a global infrastructure for digital currencies, as proposed by the International Monetary Fund (IMF) Managing Director Kristalina Georgieva, could have significant implications for the adoption of cryptocurrencies. Georgieva’s remarks about interoperability and the avoidance of settlement blocks highlight the growing recognition of the need for coordination and compatibility among digital currencies issued […]