The district of Santa Monica, located in Los Angeles, California, activated the official Bitcoin Office website, which was approved by the city's City Council, in mid-July. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
An office dedicated to educating about the potential of Bitcoin
📍The Santa Monica Bitcoin Office has launched its official website. From this digital space, municipal authorities have highlighted the city's commitment to educating its citizens and residents about the potential and innovation of Bitcoin and cryptocurrencies, and to economic and social growth.
The Bitcoin Office, in collaboration with the Proof of Workforce Foundation, will launch a series of initiatives focused on expanding knowledge about the transformative and disruptive potential of Bitcoin. Likewise, it will promote different tools that help encourage collaborations and associations within the crypto industry focused on the economic growth of the city. The objective, as explained by the government entity, is to provide comprehensive education about Bitcoin to empower citizens in the new digital economy, in addition to creating new employment and growth opportunities in key sectors.
The entity also stressed its commitment to making Santa Monica the Silicon Beach hub for Bitcoin innovation, to unlock new opportunities, attract investment, and ensure the city and its community thrive in the digital age.
More than 40 crypto companies apply for licenses in Türkiye
📍Türkiye's new regulatory framework is massively attracting cryptocurrency companies to the country. I agree with you Reports presented by the Capital Markets Board of Turkey, to date some 47 cryptocurrency services companies have requested regulatory licenses from the authorities, in order to operate legally within this jurisdiction.
This wave of crypto companies, which seek to provide their services in a regulated manner in the country, responds to the new regulatory framework on cryptocurrencies that came into force in July and which establishes guidelines for digital asset service providers.
According to Chainalysis, Turkey is the world's fourth largest cryptocurrency market, by trading volume, and number 12, in terms of digital asset adoption.
Johnny Ng calls to boost Web3 development in Hong Kong
📍At a recent press conference, Johnny Ng, a member of Hong Kong's Legislative Council and an advocate of Web3 technology, raised the urgent need to improve virtual banking services in the region. In his remarks, Ng highlighted that despite government support to encourage the development of virtual banks, Web3 businesses still face significant difficulties in opening bank accounts, limiting their ability to operate efficiently in the city.
To address the current obstacles, Ng proposed several measures. Among them, he suggested that virtual banks should diversify their services and not strictly align with traditional models, in order to allow institutions to better adapt to the needs of the digital ecosystem. Secondly, he recommended the creation of a “virtual asset bank” that could effectively manage digital assets and coordinate with the government's development in the Web3 sphere.
The legislator also emphasized that accelerating the development of the Web3 ecosystem is crucial, especially at a time when policies on virtual assets have become a central issue in global government discussions. For Hong Kong to position itself as a leader in the Web3 space, it is essential to promote the comprehensive development of the value chain and the associated ecosystem, he stressed.
With growing global interest in blockchain technology and digital assets, Ng also suggested the possibility of governments adopting cryptocurrencies, especially Bitcoin, as a strategic store of value. In this regard, he commented that his proposal has unleashed a wave of discussions, which he considers necessary and, furthermore, positive, to “gather knowledge and perspectives” and to explore the viability of adopting cryptocurrencies and new technologies.
“It is evident that global acceptance of digital assets is increasing, Bitcoin being a good example, and is already recognized by some as “digital gold” within the current technological context.” ng urged authorities to take a proactive and cautious approach towards cryptocurrencies and emerging technologies, as Hong Kong's economy seeks new engines of growth and faces international political and economic tensions.
Overall, Ng's proposals could be a decisive step towards establishing Hong Kong as a powerhouse of Web3 innovation.
Tether boosts crypto education in Africa
📍Tether, the issuer of the USDT stablecoin, recently revealed a strategic partnership with Xion Global to foster cryptocurrency and blockchain education on the continent. The strategic alliance seeks to develop new initiatives that promote education in new technologies and improve digital transaction capabilities in the region.
According to release which was published by Tether, both companies will launch a comprehensive digital education campaign on the benefits of cryptocurrencies and digital financial solutions. In addition to this, different collaborations will be promoted that help create new possibilities for financial inclusion and economic empowerment in South Africa, highlighted Paolo Ardoino, CEO of Tether.
On the other hand, Aeryn Quarmby, COO of Xion Global, commented that the collaboration with Tether will help people better understand the advantages and potential of making payments with stablecoins and make digital asset transactions more intuitively. and reliable.
Cardano's Hydra updates to v0.18.0
📍Ahead of the launch of the Chang hard fork, Cardano developers have updated their Hydra scalability solution. The Hydra update, which was released on August 9, introduces new improvements to transaction efficiency, as well as fixes for lag issues related to asset withdrawals.
According to the Cardano developers, version v0.18.0 also introduces important changes that prepare the network for Conway, the code file essential for the implementation of the Chang hard fork, so this new update aligns with the network's decentralization and autonomy goals.
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