Today’s episode of “The Breakdown” looks at a variety of topics covering the evolving relationships between states and digital currencies, including:

• Inner Mongolia’s fight to keep crypto mining out 
• Laos’ official about-face on crypto and attempt to attract China’s mining refugees
• CZ’s latest in Binance’s whistlestop tour to change regulators’ perception of the company
• Europe’s upcoming ECB trial 
• Coinbase’s derivative ambitions 
• And a big raise for Avalanche 

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“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Mlenny/E+/Getty Images, modified by CoinDesk.