GM, this is The Crypto Explorer, the only newsletter with headlines so hot, you might want to keep a fire extinguisher nearby!

Here’s what we got for you today:

• ⚖️ China legalizes crypto for debt settlement!

• 🗣️ Have your say on CBDC

• 🧱 Around The Block: Bittrex files for Chapter 11 bankruptcy

⚖️ China Legalizes Crypto for Debt Settlement!

China makes a surprising turn in crypto regulation! 🤯

The Country has had a blanket ban on cryptocurrencies since 2017.

But now, the country’s Supreme Court has released new guidelines regarding disputes related to digital assets.

The guidelines state that settling a debt using a small amount of digital assets would be considered legal if both parties agree, so long as there are no other valid reasons against it.

But before you break out the champagne, there's a catch.

This ruling only applies to small amounts of digital assets used to settle debts arising from a mutual exchange, labor service, and other basic relations.

This means that larger transactions or more complex uses of digital assets may still be subject to the existing ban. 😕

But hey, progress is progress, right? 🤷

At least China is starting to show some flexibility in its regulatory approach.

If you haven't, you've got to read the guidelines, there is so much packed into it.

🗣️ Have Your Say on CBDC

The Bank of Canada is considering creating a digital dollar!

So they're asking Canadians what they want in a digital dollar through public consultation.

The Consultation is in the form of an online survey seeking Canadians' input on potential features to be included in a digital Canadian dollar.

Guess they really want to make sure they get it right, because who knows better what Canadians want than Canadians themselves, right? 😃

You can fill out the survey here.

The consultation runs until June 19.

So, now’s your chance to fill out the survey and have your opinion matter! 📑🗣️

But don’t expect the digital dollar just yet.

The Bank of Canada has made it clear that it is not starting work on a central bank digital currency (CBDC) right now.

And most importantly, it has no intention of replacing cash even if a CBDC was issued. The bank has promised to keep good old cash around for those who want it. Phew! 😄

However, the bank noted that a digital Canadian dollar could prevent many Canadians from being excluded from the economy if the use of banknotes falls.

They've also released a 2min video explaining why they doing this and the benefit for its citizens.

You can watch it here.

You gotta love a proactive government.😍

What are you waiting for? Get cracking on that survey.

🧱 Around The Block: Bittrex files for Chapter 11 bankruptcy

• 📄 Bankruptcy Claims: Bittrex files for Chapter 11 bankruptcy just weeks after SEC charges.

• 🧨‘ War on crypto’ — Newly filed letters lambast proposed SEC custody rules.

• ⚖️ Legal Battle Continues: FTX founder Sam Bankman-Fried urges court to dismiss charges.

• 🤖 AI-generated songs: Spotify reportedly deletes thousands of AI-generated songs.

That's all we have for today.

Please don't forget to rate today's email and let us know what you like about it.

In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.