El Salvador's President Nayib Bukele sent 52 legal reforms to Congress. Among them, one that seeks to give citizenship to foreign investors like those in Bitcoin. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍El Salvador introduces 52 legal reforms to combat bureaucracy and, among other things, grant citizenship to Bitcoin investors. Nayib Bukele, president of El Salvador, announced on Twitter that he has sent 52 legal reforms to the country's Congress, with which he seeks to promote crypto adoption and freedom.
Through these reforms, Bukele wants to eliminate red tape, create tax incentives, grant citizenship to foreign investors, establish new securities laws, and much more. El Salvador is preparing to launch the so-called $1.000 billion “Bitcoin Bond” next month, which it seeks to use to finance the construction of the bitcoin city and increase their holdings in this cryptocurrency.
📍KB Kookmin Bank, South Korea's largest bank, will launch cryptocurrency services. In a release As recently shared, KB Kookmin Bank reported that it is developing new investment strategies based on digital assets, to offer exposure to the cryptocurrencies, in the future, considering the rapid adoption and growth of this industry in recent years. The Korean bank, with more than 26.000 employees, has created a new working committee through its investment arm KB Asset Management. The committee will be in charge of evaluating the provision of new products and services related to crypto assets, taking into account several aspects, such as compliance, risk and strategy.
Hong-Gon Kim, head of KB Asset Management's index asset management division, said the bank could be the first to offer exposure to cryptocurrencies through an ETF (exchange-traded fund) and even futures.
Web3 and New Technologies
📍Spotify, one of the largest streaming platforms, is looking for an engineer with knowledge in Web3. According to offer In a job posting posted by Spotify via LinkedIn, the streaming platform is hiring a senior back-end engineer with an interest and knowledge in new technologies and Web3. Spotify wants to develop new engaging experiences and explore growth strategies through Web3, to foster greater connection of the platform with younger audiences, it explained in its post.
Rules and Regulations
📍Russia's Finance Ministry is proposing a new regulatory framework for cryptocurrencies. In Russia, the Ministry of Finance has presented a its vibrant take on poolside decadence regulation for the crypto industry in the country. In this proposal, the Ministry proposes the use of cryptocurrencies as investment assets, but continues to prohibit their use as a means of payment or exchange of value. In addition to this, the regulatory proposal includes the application of online exams to potential investors, in order to determine their degree of knowledge about cryptocurrencies and their risks, before being able to invest in this class of assets.
The Russian Finance Ministry also proposed issuing licenses and creating a special registration system to keep track of the exchanges and crypto-asset exchanges that provide services in the country. The ministry notes that reporting including detailed information on cryptocurrency operations, as well as the development of a secure storage system, internal control, audits and a risk management system, is crucial as requirements. The Russian government must appoint a government entity to oversee and regulate the industry, the ministry said.
📍State agencies in California could accept bitcoins if a new law is passed. Lawmakers in the state of California, United States, have introduced the bill N° 1275 to allow state agencies to accept payments in cryptocurrencies, such as Bitcoin. California is the latest state in the country to formulate a bill to encourage the adoption of cryptocurrencies, allowing its citizens and residents to use these crypto assets as a means of payment for government services, such as taxes.
📍In India, 4 people were arrested for participating in a cryptocurrency scam in 2017. Indian police authorities carried out an operation in which 4 people were arrested who were allegedly linked to a pyramid scheme that stole $5,4 million from some 2.000 cryptocurrency investors. noticia It was announced by the local media The News India Express.
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