Date: 06/04/2021
“It is an efficient, fair, and transparent database that eliminates distrust between people and can make the world a better place in many areas.” — András Györfi
Weekly News Report:
1. Google will begin accepting advertisements of cryptocurrency exchanges and digital wallets targeting U.S. consumers on its platform beginning Aug. 3.
2. Bitcoin continued falling as Musk kept tweeting more cryptic posts on Thursday including another breakup-themed tweet on falling crypto prices as well as a post on Dogecoin. Musk’s broken heart sent BTC down nearly 7%, within minutes the crypto market responded by plunging into a sea of red, as close to $100 billion departed the global market cap.
3. Coinbase makes dogecoin available to retail investors. The exchange will try to boost interest in the meme-based cryptocurrency through a $1.2 million giveaway promotion.
4. The Philippines’ leading mobile wallet provider, GCash, is eyeing a possible foray into crypto. GCash would join such other major payment firms as PayPal and Square in addressing the growing demand for cryptocurrency services.
5. The Monetary Authority of Singapore (MAS) has received over 300 requests for payments and crypto exchange licenses, including applications from Alibaba and Google. Companies apply under the Payment Services Act, a comprehensive regulatory framework for companies handling activities relating to digital assets, including payments and trading.
6. Cryptocurrency exchange and wallet firm Blockchain.com is moving its U.S. headquarters to Miami from New York. The Luxembourg-based company plans on creating as many as 300 jobs over the next 18 months at the new location.
7. Tokyo-headquartered global cryptocurrency firm bitFlyer is giving its U.S. clients access to bitcoin and Japanese Yen pair trading. The BTC/JPY spot market posted over $30 billion in trading volume, making it one of the world’s largest bitcoin to fiat markets.
8. JPMorgan Chase & Co. is on the hunt for its crypto-savvy candidates to fill a growing number of digital asset crossover jobs. The megabank job posts hint at JPMorgan’s broader cryptocurrency ambitions.
9. Progressive Care, a Florida healthcare company, wants those coming to the Bitcoin 2021 conference to know it will accept BTC as payment for its COVID-19 rapid testing services.
10. The European Union (EU) is set to announce plans for a digital wallet to store payment details and identity credentials among other information. The wallet is expected to be operational in around a year.
11. ECB report highlights the risks of not launching CBDC. “Issuing a CBDC would help to maintain the autonomy of domestic payment systems and the international use of a currency in a digital world,” the report concludes.
12. Ghana is striving to become the first African nation to float a central bank digital currency. The Bank of Ghana (BoG) is reportedly moving towards the introduction of a CBDC experiment.
13. Budapest is set to erect a life-size bronze statue depicting Bitcoin creator Satoshi Nakamoto. The face features a reflective surface that symbolizes the unknown identity of Satoshi.
14. China hands out $6.2M in new digital yuan trial in Beijing. Beijing residents should apply to participate in the lottery before midnight on June 7. China’s central bank is looking to allow foreign athletes and visitors to use the digital yuan during the Beijing Winter Olympics in 2022.
15. Bank account flows for South Korean crypto exchanges surge 40% since 2020. As cryptocurrency markets grew in the first quarter of 2021, South Korean banks saw record volumes of deposits and withdrawals to local crypto exchanges.
