Wells Fargo, the fourth-largest bank in the United States, has started offering cryptocurrency exposure to its clients and investors with large capital. This and more news is in this handy daily summary so that you are always informed with the latest events that occur within the crypto world.
Cryptocurrencies and altcoins
📍ASX gains 15% in the last few hours, making it one of the best performing assets this year. Axie Infinity's AXS token is once again being boosted by massive demand for the blockchain game. At press time, Axie is close to having 1 million active users, while its AXS token is trading above $XNUMX. $44 per unit. So far this year, AXS has grown by more than 7.400%.
Other cryptocurrencies that have shown significant growth in the last few hours are MINA, COMP, SRM and STORJ, with returns between 12% and 32%.
Bitcoin and Blockchain Adoption
📍Wells Fargo & Co begins offering cryptocurrency exposure to its wealthy clients. As an reported Business Insider, the American global financial services company and the fourth-largest bank in the United States, is offering exposure to cryptocurrencies after its president, Darrell Cronk, acknowledged that the bank's stance on crypto innovation has changed dramatically.
Cronk said in an optimistic tone that, although cryptocurrencies carry with them great risks, they are quite viable digital assets that have shown great growth and development in recent years. Cronk's statements and the investment opportunities now offered by Wells Fargo represent a victory for the crypto community, since in the past the financial institution had been publicly criticizing these digital assets.
📍The Shopify e-commerce platform integrates cryptocurrency payments. Shopify, which recently announced support for NFT tokens, will also be integrating cryptocurrencies to its payment methods. The payment platform Alchemy Pay, of which Shopify and other companies are clients, announced that it has partnered with the Binance Pay application to allow cryptocurrency payments for its customers.
📍GK8 offers institutional crypto custody services to the financial company Securrency. Digital asset custody specialist GK8 to be the provider of crypto custody and infrastructure solutions blockchain for banking and institutional clients of the financial services company Securrency.
Dan Doney, co-founder and CEO of Securrency, stated that GK8 is the most secure custody solution on the market, through which they will be able to provide and guarantee a high level of protection and security, complying with the highest industry standards.
Development and Technology
📍Blocktower Capital, Andreessen Horowitz (a16z) and Alameda Research lead TrueToken funding round. The TrueFi project raised $12,5 million in a funding round led by industry giants, who are showing their interest in decentralized finance (DeFi).
📍Aspen Digital, which aims to bring digital assets to institutional investors, closes $8,8 million in funding. RIT Capital Partners and Liberty City Ventures led the funding round, which will be used to fund Aspen Digital's expansion internationally. The company said that the resources will be used to expand the team and establish new offices in major financial centers.
📍Russia allocates resources to develop a tracking platform for bitcoin transactions. Russia's Federal Financial Supervision Service wants to develop a platform to monitor transactions made with bitcoin. By reportedThe entity will allocate 14,7 million rubles, approximately 200.000 US dollars, for the development of said crypto tracking and control platform.
Rules and Regulations
📍The Bank for International Settlements (BIS) warns of the risks of stablecoins. BIS analysts echo concerns that regulators have expressed about the stablecoins, warning that the presence of these private digital currencies could disrupt the financial system. According to the BIS, stablecoins “could be a game-changer for the monetary system,” so regulators must prepare to act quickly to deal with their growth and development.
📍Colombian Congressman re-presents his proposal to regulate cryptocurrencies in the country. Colombia is one of the Latin countries where cryptocurrencies are experiencing the greatest growth and acceptance. However, to date the country does not have a clear regulatory framework applicable to this industry. For this reason, Congressman Mauricio Toro presented his bill again to regulate the use of bitcoins and other crypto assets in the country.
Toro explained on his Twitter account that the bill seeks to ensure a healthy development of the cryptocurrency industry in the country as an alternative to the banking system, while allowing the government to tax transactions with crypto assets and close the doors to black markets.
📍Google Ads allows advertisers to advertise about cryptocurrencies and digital assets. The internet giant is once again allowing cryptocurrency ads through its Google Ads service. As reported Bit2Me News in June, Google reported that its advertising policy would be modified and would come into effect at the beginning of this month, to allow companies and advertisers to publish about cryptocurrencies.
However, Google Ads' new financial products and services policies have certain restrictions. For example, companies cannot promote ICOs, DeFi protocols, or use famous people to promote tokens. Additionally, advertising companies must be registered with FinCEN or licensed by a federal or state bank, and comply with the rules set by Google Ads.
Continue reading: DeFi grows 65% and moves value of $343.000 billion in the second quarter
