The President of Kazakhstan is set to legalize the use of cryptocurrencies in the country. This and more news in this handy daily digest so that you are always informed with the latest events happening within the crypto world.
Kazakhstan plans to legalize the use of cryptocurrencies
📍‌If demand for cryptocurrencies grows in Kazakhstan, the country could legalize them. This was announced by the President of Kazakhstan, Kassym-Jomart Tokayev, during his participation in the Digital Bridge 2022, held in Astana, the capital of the country.
According to President Tokayev, Kazakhstan will become one of the leading countries in the field of new technologies and the ecosystem of cryptocurrencies and digital assets.
Kazakhstan is currently the third country with the highest concentration of Bitcoin mining hash rate and has also become one of the first to successfully make a cryptocurrency purchase with its fiat currency, the Kazakhstani tenge.
US lawmakers in favor of integrating Bitcoin into retirement programs
📍‌An amendment to the Retirement Savings Modernization Act proposes integrating Bitcoin into 401(k) retirement plans. In a bill of law Introduced in the US Senate, a group of lawmakers propose removing liability for breach of fiduciary duty in order to allow pension fund managers to offer alternative assets like Bitcoin to workers.
The proposed draft bill presents the possibility of classifying Bitcoin as one of the alternative assets that can be offered through 401(k) retirement plans.
According to Senate Banking Committee Rep. Pat Toomey, the main proponent of the bill, passage of this bill will allow thousands of Americans to expand and diversify their investment options to improve their savings.
SWIFT connects with Chainlink
📍‌International banking communications network SWIFT is using Chainlink to connect with the blockchain ecosystem. During SmartCon 2022, SWIFT Chief Strategy Officer Jonathan Ehrenfeld said that institutional investors are very interested in digital assets.
SWIFT is currently using the Cross-Chain Interoperability Protocol (CCIP) in an initial proof of concept, Chainlink said on its Twitter account. The CCIP interoperability protocol will allow SWIFT messages to indicate on-chain token transfers, helping the network become interoperable across all blockchain-based environments, it said.
BlackRock wants to offer investment options in the Metaverse
📍‌Investment giant BlackRock has plans to create an exchange-traded fund (ETF) for the metaverse. The objective of this fund is to allow investors to gain exposure to shares of companies that have a relationship with the virtual world.
According to BlackRock, the new ETF, called “Ishares Future Metaverse Tech and Communications ETF,” will track the stocks of companies related to the metaverse, as well as those with exposure to virtual reality and augmented reality, NFTs, and financial applications focused on gaming or GameFi.
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