UK Chancellor of the Exchequer Rishi Sunak has proposed regulating stablecoins and officially issuing NFTs to make the country a global hub for cryptocurrency innovation. 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.
Rules and Regulations
📍‌UK Treasury sees stablecoins as a more efficient means of payment and aims to issue an official NFT. UK Chancellor of the Exchequer Rishi Sunak has said that the regulation and adoption of stablecoins can lead to the creation of a faster and more efficient payment system in the country. Chancellor Sunak's statements are in line with the United Kingdom's plans to create the country's first crypto meeting, aimed at deepening the advantages and opportunities offered by new technologies and in a possible regulationFollowing this meeting, the United Kingdom wants to adapt its regulations and legislation to stimulate the development and growth of the crypto industry.
On 10 and 11 May, the UK Treasury and the Financial Conduct Authority will host the "Crypto Sprint“, where crypto community leaders and industry companies will meet to foster further development of the crypto market, based on appropriate regulation. According to Sunak, effectively regulating cryptocurrencies and stablecoins in the country will attract greater investment; in addition, it will help the United Kingdom position itself as a crypto-friendly jurisdiction.
In addition to this, Sunak also sent a request to The Royal Mint, a government-owned UK mint, to issue its own non-fungible token or NFT in the second quarter of this year.
📍‌In the United States, the SEC chairman has called on regulators to establish greater oversight over stablecoins. Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said the stablecoin market would benefit from increased regulation, providing security and stability to consumers and investors.
During discourse At the University of Pennsylvania, Gensler also pointed to the need to regulate cryptocurrency companies, especially those that hold their clients’ digital assets. For the financial regulator, it is important to register and regulate such companies. Gensler noted that last year, nearly $14.000 billion worth of crypto assets were stolen, so there is a need to “better ensure the protection of clients’ assets.”
Bitcoin and Blockchain Adoption
📍‌Elon Musk lights up Twitter after acquiring 9,2% of its shares. Billionaire Tesla co-founder and CEO Elon Musk has confirmed the acquisition of a 9,2% stake in Twitter, one of the world's largest social networks. Musk has tweeted about possible improvements to the social network, questioning centralization and breaches of freedom of expression principles. Last month, consulted on Twitter the community's opinion on whether the network's algorithm should be open source, and has said that it will support the implementation of cryptocurrencies such as Dogecoin (DOGE) on the net.
📍‌Jackson, Tennessee, will continue to invest in cryptocurrencies and blockchain technology. Jackson Mayor Scott Conger said the US city will lead the way toward greater Bitcoin adoption (BTC). On his Twitter account, said which will work to promote education and training on everything related to Bitcoin and cryptocurrencies in the city.
Cybersecurity
📍‌Trezor hardware wallet users are falling victim to phishing. On Twitter, the creators of the Trezor hardware wallets posted a report to alert all its users about a massive wave of fake emails, with which attackers seek to compromise users' private keys. The fake emails notify users of an alleged security breach and invite them to download the latest version of the walletHowever, this is a malicious maneuver that can compromise the security of users and their cryptocurrencies.
Trezor CTO Tomáš Sušánka said the company has already taken steps to disable the phishing sites and stop the attack on its users and customers.
Continue reading: There are only 2 million Bitcoin left to be mined, what happens now?
