According to the economic newspaper CincoDías, three major banks in Spain are preparing to offer their clients new services based on cryptocurrencies. This and more news in this practical summary diary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies arrive in Spanish banking
📍The MiCA law encourages the entry of Spanish banks into the cryptocurrency industry. According to the business daily CincoDías, three major Spanish banks are beginning their preparations to offer cryptocurrencies to their clients. Although the names of these banks have not been revealed, the Spanish newspaper claims that the new European MiCA regulation, which will regulate the crypto market in the region, is driving the entry of large Spanish banks into the crypto world.
European crypto regulation will help mitigate the risks of cryptocurrency fraud in the region, which has increased the confidence of institutions to enter the crypto world.
Spanish banks are reportedly planning to incorporate cryptocurrencies into their products and services to offer a new on-ramp to this digital financial world. Crypto-based services will be available to the banks’ retail customers, the paper reported.
Will Tesla accept bitcoins again?
📍Tesla keeps Bitcoin in the source code of its payments page. Rumors that Tesla will accept Bitcoin payments again echoed on Thursday after a post made by a user on Twitter. publication @LilMoonLambo noted that the Elon Musk-owned electric car maker had reintegrated Bitcoin into the payments page of its website.
However, rumors of Bitcoin's possible return as a payment method at Tesla have been debunked by several Bitcoiners, who have investigated the cryptocurrency's presence on Tesla's payment page in more depth. According to crypto blogger Colin Wu, Telsa never removed Bitcoin from the source code of its payment page. In fact, according to Wu, Bitcoin and Dogecoin were already present in the source code of said page in January of this year.
The rumors did not impact the price of BTC, which remains trading around $29.900 per unit, after a 4% drop this week.
Elon Musk drives up the price of Dogecoin
📍Dogecoin (DOGE) has gained more than 2% in the last few hours following a post by Elon Musk on Twitter. According to CoinMarketCap data, DOGE is trading near $0,072 per token at the time of writing. The meme cryptocurrency is reflecting a price gain of 2,20% over the past 24 hours and 1,66% over the past week. This price gain came after a post made by Elon Musk via his social media network Twitter.
The billionaire shared a meme with the Scooby-Doo character accompanied by “Doges ftw.” Although on this occasion the message shared by Musk was a bit brief, compared to other previous ones or the logo change which occurred on the social network in April, was enough to move the price of the cryptocurrency on the market.
Musk's posts related to Dogecoin have produced quite a bit of controversy in recent years, to the point of facing a demand from a group of investors who allege that Musk has been manipulating the price of Dogecoin for his own benefit. However, despite the lawsuit, Musk continues to support the development of Dogecoin as his favorite cryptocurrency, although he has repeatedly stated that It is not an asset to make big bets on.
Although Dogecoin was born as a joke towards Bitcoin, it has now become one of the most prominent altcoins in the crypto market, with a market capitalization exceeding $10.000 billion.
UK to ban crypto referral bonuses
📍The British government is creating new regulations to protect investors in the cryptocurrency industry. On this occasion, the UK Financial Conduct Authority (FCA) reported on a new set of guidelines targeting cryptocurrency-related advertising and promotions on social media.
According to the FCA publication, social media has become a promotional tool for companies, which can promote their financial products and services through these platforms. However, much of the advertising seen through these platforms does not comply with current financial regulations. Therefore, to ensure the safety of investors, the UK financial authority is updating its guide on online financial products.
On cryptocurrencies, Lucy Castledine, FCA's director of consumer investments, reported that from October 8th of this year, the FCA will ban incentives to invest in cryptocurrencies, including the “refer a friend” bonuses offered by some platforms and companies to gain more customers.
According to Castledine, those who fail to comply with the new guidelines and illegally promote financial services related to crypto assets could be subject to prosecution. Influencers will also need to monitor their posts, as many of them could be considered financial promotions, investment recommendations or financial advice, Crypto Insiders noted.
Continue reading: The European Central Bank publishes new details on what the digital euro will be like
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
