Twitter has enabled support for ETH addresses so that users of the social network can make payments and receive tips directly with Ethereum. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍Twitter users can now use their Ethereum addresses for payments and tipping. Mini-blogging social network Twitter has added support for ETH addresses within the platform, to allow users to receive tips in Ethereum. The tipping feature is only active through the social network's mobile app. Last September, Twitter enabled Bitcoin tipping, through the Strike platform.
Metaverse, NFT and DeFi
📍Mike White, Disney's new executive for the Metaverse. Mike White, executive of Walt Disney’s Media and Entertainment Distribution group, has been hired as Senior Vice President of Storytelling and Next Generation Consumer Experiences to lead the creation and development of its Metaverse. White will be responsible for defining the strategies the entertainment company will use to bring its users immersive experiences in the virtual world.
CBDC and Central Banks
📍Athletes and spectators at the Beijing Games spend more than $300.000 a day with e-CNY. Mu Changchun, general manager of the Digital Currency Research Institute of the People's Bank of China (PboC), reported that athletes, coaches, spectators and other attendees at the Beijing 2022 Winter Olympics are spending around $315.000 a day on purchases via the digital yuan (e-CNY).
According to Changchun's statements, reported by Reuters, foreign attendees at the Beijing Games are mostly using digital yuan hardware wallets to make their purchases. However, although the use of this CBDC has not been as widespread as expected, due to the health measures implemented against Covid and its Omicron variant, the availability of this centralized digital currency has raised concerns among Western regulators, due to potential privacy and data control risks. In July last year, a group of US senators asked athletes not to use the digital yuan during their visit to the Asian country.
Development and Technology
📍Ethereum 2.0 has no slashing bugs, its developers claim. Pau Hauner and Adrian Sutton, both Ethereum developers, refuted the possibility that Ethereum's staking layer could introduce slashing bugs that destabilize the network. Both developers published on their Twitter accounts that the research carried out by economists Zhinguo He and Jiasum Li, on possible flaws in the Ethereum 2.0 penalty system, is not accurate because it uses an incorrect data source for the object of the research.
Both Hauner and Sutton refuted the publication of economists, indicating that the data source used, the Beaconch.in website, presents some errors and does not provide direct data from Ethereum 2.0 validator nodes.
Rules and Regulations
📍Russian Finance Minister Anton Siluanov speaks out against Bitcoin ban. For Siluanov, restricting the use of Bitcoin and cryptocurrencies in Russia is equivalent to banning access to the Internet, said at his latest briefing, according to Forbes. The minister refuted the arguments of the Bank of Russia for banning cryptocurrencies, , noting that while the risks are understandable, the ban is not the best decision for this emerging industry.
📍United States discusses law to require reporting on El Salvador's bitcoin transactions. El project The El Salvador Cryptocurrency Accountability Act (ACES), recently introduced by U.S. Senators Jim Risch, Bob Menendez, and Bill Cassidy, seeks to create a plan to mitigate the potential risks that El Salvador’s adoption of bitcoin as legal tender could bring to the United States financial system. The bill wants to require the State Department to issue a report on cryptocurrency transactions in the Latin American country.
In response to the presentation of this proposed law, Nayib Bukele, President of El Salvador, he remembered that the country is a sovereign and independent nation, where the US government has no jurisdiction to impose a law requiring financial reporting.
📍Travel Rule Universal Solution Technology (TRUST), a solution designed for Travel Rule compliance in the crypto industry. A group of cryptocurrency companies have joined forces to create TRUST, a platform designed for the exchanges and cryptocurrency companies to securely manage and submit the information legally required by the Travel Rule. Companies that created this solution include Fidelity Digital Asset, Circle, and BlockFi, among others.
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