Crypto adoption
The Flippening: Ethereum Has Overtaken Bitcoin in 26% of Countries Worldwide
26% of nations have more Ethereum investors than Bitcoin, including USA Argentinians are the biggest Bitcoin maxis, with 73% of cryptocurrency investors holding the coin, as inflation skyrockets in the country Meme mania is highest in the USA, with more American Dogecoin investors than any other country Japan is the most bullish on Solana dethroning Ethereum as the King of DeFi Intro Once upon a time, Bitcoin was the world’s only cryptocurrency. The industry has come a long way since, however, and today we have over 18,000 cryptocurrencies serving a variety of use cases. Some have aimed to compete with Bitcoin, while others have almost nothing in common with it. We have meme-coins, such as Dogecoin and Shiba, which have taken the world by storm. We have the burgeoning industry of DeF...
Monthly Report: The Central Africa Republic follows El Salvador’s footsteps in Bitcoin adoption
Kraken exchange offers traders the first Dirham trading pairs following the recent UAE licensing Central Africa Republic follows El Salvador in adopting a Bitcoin as legal tender Fort Worth, Texas, to become the first city mining cryptocurrency. Cuba is issuing licenses to persons/organisations that want to operate digital assets Deus Finance suffers another flash loan exploit in less than two months, this time losing more than $13.4 million. Here are last month’s top headlines across the crypto regulation, adoption, mining and crime verticals Kraken approved to operate in UAE as Bybit launches crypto options trading Following the wave of licensing of crypto entities in the Middle East, Kraken revealed on April 26 that it had been approved by the Abu Dhabi Global Market (ADGM) to oper...
The Brazilian Senate passes a Bill to regulate Crypto Transactions
Brazilian Senator, Flávio Arns, presented a bill on crypto transaction regulation to the Senate on Tuesday night and the Senate passed the bill. Now the bill will be taken to the Brazilian Chamber of Deputies for voting, however, the executive branch can turn it down if adopted. According to the legislation, crypto firms will be regarded as Virtual service providers and will have to operate within the Brazilian financial system guidelines notwithstanding strict adherence to the financial institutions against crimes. Execution of duties However, should the measure be passed, then the Brazilian Securities and Exchange Commission will be restricted from overseeing the crypto market, though it will be in charge of the Initial Coin Offerings (ICOs), but the decision to determine the body that w...
Aussie convenience store giant to accept crypto at 170 outlets
Convenience store and gas station giant On The Run (OTR) will soon accept crypto payments at its 170 outlets across South Australia and Victoria. The move will allow customers to pay for gas, snacks, and even a Subway foot long in over 30 cryptocurrencies. OTR’s parent company the Peregrine Corporation, one of the largest privately-owned companies in South Australia, will also be accepting crypto at its Subway, Oporto, and Smokemart stores. Once the system is finalized in July, it will become the largest business in the country to accept in-store crypto payments. The company is working with Singapore-based exchange Crypto.com to implement its Pay Merchant service as its payment settlement layer. Datamesh, a Sydney-based payment systems provider, will roll out point of sale terminals allowi...
Deputy Minister of Malaysia’s Communication Ministry roots for legalising crypto
Deputy minister Zainul Abidin has proposed the legalisation of cryptocurrencies in Malaysia to ease financial dealings among the younger population Earlier this, the deputy minister of finance in the country spoke strongly against crypto assets In a move to indicate that the Malaysian Ministry of Communications and Multimedia (KKMM) is supporting the adoption of crypto assets, deputy minister Zainul Abidin has called for the legalisation of crypto. Speaking during a parliamentary session today, Abidin explained that it is important for Malaysia to legalise some facets of crypto and NFTs as they could potentially be useful, especially for the younger generation. He noted that the crypto space has increasingly become popular with this demographic. “We hope the government can try to leg...
Deloitte 2021 Global Blockchain Survey: 76% of respondents believe digital assets are a strong alternative to, or outright replacement for, fiat currencies
Pre-COVID, cryptocurrency was still a relatively unknown commodity in mainstream circles and to average consumers. Two years into the pandemic (or post-pandemic, can we say???), that has changed entirely. Deloitte’s 2021 global blockchain survey highlights the extent of crypto’s emergence – and this survey was conducted only one year into the pandemic, in March/April 2021. Note: “FSI Pioneers” are respondents whose organisations have already deployed blockchain activities into production and/or integrated digital assets into their core business activities Remarkably, 76% of respondents believe that “digital assets will serve as a strong alternative to, or outright replacement for, fiat currencies in the next 5-10 years”. That’s quite a staggering number and one that really surprised u...
Bridgewater’s Rebecca Patterson believes the Ukraine situation will speed up growth in the crypto sector
Patterson said that crypto is currently liquid sensitive and has a long way to evolve She held that the Russia-Ukraine standoff should speed up growth in the crypto space In her opinion, the momentum in crypto could become self-fulfilling as more investors join in Bridgewater Associates’ Chief Investment Strategist Rebecca Patterson has predicted that the current situation in Russia-Ukraine will only speed up the overall growth of ecosystems around digital assets. Speaking to CNBC’s Closing Bell, the investment manager noted that this is a significant moment for crypto as it is the first time the digital asset has been used as a geopolitical tool, unlike capital markets that have, in the past, been caught up in the midst of a geopolitical crisis. Patterson added that crypt...
eBay teases the idea of crypto payment integration on its platform again
The e-commerce platform is looking to integrate cryptocurrencies as a payment form to attract the millennial generation Markedly, this is not the first time the company has talked about plans to bring crypto payments to the platform California-based e-commerce company eBay is exploring the possibility of adding cryptocurrency payments to its platform, according to a Sunday report by TheStreet. The report detailed that the rationale behind the move is to attract the young generation (Gen Z & millennial) that is heavily leaning towards digitalisation and has a liking for cryptocurrencies. eBay has floated the idea of integrating digital assets on several past occasions to appeal to a wider consumer base. The company first showed interest in accepting Bitcoin payments in 2014. Early May l...
UK law firm Gunnercooke starts accepting crypto payments for legal services
Gunnercooke says one of its clients, Attestant, has already paid up for services in Ether Crypto adoption will also favour partners at the firm who would prefer getting paid in alternative methods As mainstream crypto adoption continues rising, more industries and sectors are trying their bit to incorporate these digital assets. In the US, a number of legal firms have been accepting crypto for a while now, including Steptoe & Johnson, Perkins Coie, Frost Brown Todd, McLaughlin & Stern, and Quinn Emanuel Urquhart & Sullivan. In the UK, law firm Gunnercooke revealed yesterday that it started accepting crypto payments in Bitcoin and Ether. The move, Gunnercooke said, made it the first among major firms in the country to do so. In taking legal fees in crypto, the firm intends to su...
Weekly Report: Regulators and authorities around the world hone in on the crypto sector
The US is strengthening its regulatory efforts against crime involving crypto and related assets Warren Buffet’s right-hand man Charlie Munger compares Bitcoin to a venereal disease Ukraine’s parliament, this week, passed a bill to legalise digital assets legal in the country, with the vote receiving the majority of votes Here are the major headlines from the cryptocurrency sector that you might have missed this week: US authorities crack the whip on crypto crime even harder Deputy Attorney General of the US Lisa Monaco told the virtual Munich Cyber Security Conference on Thursday that the FBI is forming a new team, the Virtual Asset Exploitation Unit. The division would include investigators and experts in cryptocurrencies, blockchain analytics, and digital asset confiscation....
Russia officials fail to reach a compromise over crypto regulation
Discussions held on Tuesday between the Russian Finance Ministry and Central Bank officials on crypto regulation bore no fruit President Putin has urged deliberations between the central bank and the government to reach a common ground Russia President Vladimir Putin recently chipped on the cryptocurrency conversation – a matter that has brought forth divided opinion in the country. While one facet has strongly pushed for a blanket ban on these digital assets, the other has appeared to lean towards regulating them. Putin urged both sides of the aisle to have a sit-down to reach a resolution. Bloomberg reported that senior government personnel held a meeting regarding the matter on Tuesday, citing individuals who requested not to be identified as the meeting had not been disclosed to the pu...
Singapore’s DBS Bank set to offer crypto services to retail customers
Singapore’s megabank DBS plans to expand crypto trading to the retail crowd CEO Piyush Gupta has highlighted that the plan is to expand into online trading and a 24/7 operational model DBS Bank was the first financial body to receive MAS approval last year Singapore’s largest lender DBS Bank has highlighted plans to expand the offering to retail investors by the end of the year. The bank is notable for being among the first financial institutions to host a crypto trading desk for institutional investors. The Bank CEO and Director of the DBS Group, Piyush Gupta, revealed during an earnings call for 2021 Q4 on Monday that it had already kickstarted the process of expanding territory. While he did not directly provide any details, he suggested that the bank had set in motion the p...
