The Macau Special Administrative Region in China is currently discussing the possibility of legalizing cryptocurrencies within its territory. 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.
Macau discusses legalization of cryptocurrencies
📍Macau, a special administrative region of China, is currently discussing the possibility of legalizing cryptocurrencies. According to a report As reported by China’s second largest state-run news agency, China News Service, the Macau Special Administrative Region has proposed new law amendments to incorporate cryptocurrencies as “legal tender” within its territory.
These proposed amendments seek to recognize not only traditional forms of money in the region, but also new forms of digital money or cryptocurrencies, granting them the same status as traditional money so that they can be used legally.
According to the agency, the Macao Executive Council has already concluded the debate on the proposed amendments, so they will be submitted to the Legislative Council of the special administrative region for further discussions.
It should be noted that Macau is one of two special administrative regions of China, which, along with Hong Kong, maintains a high degree of autonomy over its systems and policies, being independent of the country that has maintained a strict ban since 2021 on the use and trade of crypto assets.
Watches World expands its cryptocurrency payment options
📍Watches World, one of the world's leading luxury watch retailers, is now accepting 100 cryptocurrencies as payment options. Watches World customers and consumers can now pay for their products using hundreds of cryptocurrencies as a means of payment. Among them, the market leader Bitcoin.
However, payment with cryptoassets is enabled only through Watches World's online store, the luxury watch company said in a press release. Watches World enabled payment with cryptocurrencies in April this year, incorporating Bitcoin and the main cryptoassets on the market to diversify its options.
A new organization is born to promote the development of Bitcoin
📍No Big Deal (NDB) is a new non-profit organization announced by ZEBEDEE to promote open source Bitcoin development. The new organization will also support the development of Bitcoin's scalability solution, the Lightning Network, Bitcoin Magazine reported.
ZEBEDEE co-founder and CTO Andre Neves clarified that No Big Deal does not sell or support any kind of Bitcoin products, nor does it offer any Bitcoin services. The organization was founded solely to support the building and development of one of the greatest technological innovations of our times.
Neves assured that No Big Deal has been contributing to several projects focused on Bitcoin and the Lightning Network. Some of these projects are Open Bitcoin Wallet, Core Lightning (CLN), Immortan, and LN Metrics.
Continue reading: MetaMask allows users to buy crypto with immediate bank transfers
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