From Bitcoin to blockchain, it's all in the news at the moment:
The Cuban central bank issued regulations on Tuesday for virtual asset service providers, after giving a nod last year to the personal use of cryptocurrencies, a move some experts said could help the Communist-run Caribbean island skirt stiff U.S. sanctions.
Cryptocurrencies, which allow financial operations to be carried out anonymously in a decentralized manner, have been used in the past to get around capital controls, as well as to make payments and transfers more efficient.
Cuba approves cryptocurrency services, requires central bank license | Reuters
And from today's news:
Brazilian Firm Hashdex Launches First Crypto-Linked ETP in Europe - Bloomberg
Goldman Sachs Makes Its First Bitcoin-Backed Loan
Bitcoin and Ethereum Prices Slide Amid Economic Uncertainty | NextAdvisor with TIME
Elon Musk's Twitter Has a Cryptocurrency Scam Problem to Fix - Bloomberg
It really is becoming very attractive:
Five Reasons Small Businesses Should Consider Accepting Cryptocurrency
Especially for the financial markets:
Why the UK joined the race to woo the crypto industry
Global investment in the crypto and blockchain sector soared to more than $30bn in 2021 up from $5.4bn in 2020, according to KPMG, the consultancy. But the industry brings with it some hefty baggage, from concerns about money laundering controls to speculative trading products sold to retail investors. That potentially puts the UK government’s “open arms” approach to the industry at odds with the FCA.
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There is no consensus on how widespread the use of crypto will become and its use in mainstream financial services is still limited, yet Britain feels the need to act. The importance of the financial services sector — which contributed £165bn to the UK economy in 2020 producing 8.6 per cent of the country’s total gross domestic product — helps explain that.
“Crypto asset technology has huge potential,” says Rishi Sunak, the UK chancellor, “and I want to harness this as part of our plan to ensure that our financial services sector is at the forefront of innovation.”
Yet in the eyes of many British politicians, the country already lags behind others in the race to woo crypto business. Singapore, for instance, bid to win the loyalty of companies fleeing China’s crypto crackdown last year, offering a regulatory regime tailored to the industry rather than shoehorning it into existing finance rules. Regulators have come to accept that digital assets do not easily sit in the traditional banking and markets rules covering most aspects of financial services from shares to bonds, derivatives and loans. President Joe Biden issued an executive order in March providing direction to US regulators and government departments on their efforts to govern crypto in the US. Germany and Switzerland have tailored their regulatory regimes while Dubai won plaudits in the sector after creating its bespoke Virtual Assets Regulatory Authority.
Why the UK joined the race to woo the crypto industry | ft.com
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