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Here are today’s key headlines for you to stay up to date with the latest:
<h2 id="header-0">#1. Malaysian Ministry proposes that crypto be made legal tender</h2>
Malaysia’s Communication Ministry has proposed to the government that crypto currency such as bitcoin be adopted as legal transfer.
“We hope the government can allow this,” deputy minister of Malaysia’s Communication Ministry, Zahidi Zainul Abidin said. “We are trying to see how we can legalize this so that we can develop youth participation in crypto and assist them.”
Source: <a href="https://www.bloomberg.com/news/articles/2022-03-21/malaysian-ministry-proposes-legal-tender-of-crypto-currency" rel="noopener noreferrer nofollow">Bloomberg</a>
<h2 id="header-1">#2. Nearly $6 billion Ethereum burned</h2>
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/0a37665eda88443ead10411677a698c2.png">
Image credit: Decrypt
Ethereum has officially destroyed over 2 million ETH since its burn mechanism was introduced last August. In dollar terms, that’s more than $5.82 billion removed from circulation.
This creates a deflationary effect in which there are fewer and fewer Ether on the market to buy.
Ethereum’s upcoming upgrade will shift Ethereum away from a proof-of-work (PoW) consensus mechanism to the more environmentally-friendly proof-of-stake (PoS) mechanism.
Source: <a href="https://decrypt.co/95574/nearly-6-billion-eth-burned-ethereum-2-0-edges-closer" rel="noopener noreferrer nofollow">Decrypt</a>
<h2 id="header-2">#3. Tennis star Naomi Osaka becomes FTX’s latest athlete ambassador</h2>
Crypto exchange FTX and FTX US have announced that Naomi Osaka has signed on as a global ambassador for the brand.
She joins other athletes in the role including Tom Brady, Stephen Curry, and Shohei Ohtani.
Through the deal, FTX and Osaka will collaborate on initiatives to bring more women into Web3, including producing content targeted at young women that Osaka will creatively direct.
Source: <a href="https://decrypt.co/95588/ftx-tennis-star-naomi-osaka-athlete-ambassador" rel="noopener noreferrer nofollow">Decrypt</a>
<h2 id="header-3">#4. Gemini can now issue electronic money in Ireland</h2>
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/2c702b1ee6d74fe38549d0593340b187.png">
Image credit: Cointelegraph
Crypto exchange Gemini has received an electronic money license from the Central Bank of Ireland, joining other license holders like Coinbase, Stripe, Square and Meta.
The license will allow it to issue electronic money, provide electronic payment services and handle electronic payments for third parties.
It will also enable Gemini to provide these services to European Economic Area countries, which are European Union members, Iceland, Liechtenstein and Norway.
Source: <a href="https://cointelegraph.com/news/gemini-receives-license-to-provide-electronic-money-services-in-ireland" rel="noopener noreferrer nofollow">Cointelegraph</a>
<h2 id="header-4">#5. UK advertising regulator asks crypto firms to revise ads</h2>
​​<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a626eaabe1944224ada04588414a9f6d.png">
Image credit: CoinDesk
The U.K.'s Advertising Standards Authority (ASA) has issued an enforcement notice to over 50 companies that have advertised cryptocurrency services.
Companies advertising crypto services have until May 2 to ensure their ads meet the new guidance, which requires advertisers to clearly state that crypto is unregulated in the U.K. and that the "value of investments are variable and can go down."
Non-compliant advertisers will be reported to the Financial Conduct Authority (FCA).
Source: <a href="https://www.coindesk.com/policy/2022/03/22/uk-advertising-regulator-issues-red-alert-guidance-on-crypto-ads/" rel="noopener noreferrer nofollow">CoinDesk</a>
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Crypto News of the Day: Naomi Osaka becomes FTX ambassador, Malaysian Parliament talks crypto

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