Twitter, the world's most popular mini-blogging social network, is giving away 140 NFT tokens to 140 users of the platform. This and more news can be found in this handy daily roundup so you're always up to date with the latest events happening in the crypto world.
Banks, cryptocurrencies and Blockchain
📍HSBC Holdings bank has joined the UAE's blockchain KYC platform. This Wednesday, the eighth largest bank in the world reported HSBC has joined the UAE’s Know Your Customer (KYC) Blockchain Consortium to help develop and strengthen its blockchain platform. HSBC becomes the fourth member of the KYC Blockchain Consortium to build. The blockchain-based platform, which has been in development since early 2020, will serve as a national ecosystem for the registration and exchange of verified KYC-compliant data between licensing authorities and financial and banking institutions.
📍NYDIG and NCR will bring cryptocurrencies to 650 banks and financial institutions in the United States. Forbes business magazine informs Digital asset management firm NYDIG will help enterprise payments giant NCR deploy cryptocurrency solutions across 650 banks and financial institutions in the country, to offer digital asset exposure to millions of U.S. customers. NCR wants to integrate cryptocurrency services to meet the demand of customers and investors, who have been participating in the industry and investing in crypto assets from other platforms.
In addition to helping NCR, digital asset management firm NYDIG is also collaborating with fintech firm FIS for the same purpose. The partnership between NYDIG and FIS will help the entire traditional banking sector offer new financial products based on bitcoin and other digital assets and bring the potential of cryptocurrencies to the masses on a widespread basis.
📍Insight, a subsidiary of BNY Mellon bank, says it is skeptical of Bitcoin as a means of payment. As BNY Mellon, the world's largest and most important custodian bank, prepares to launch a blockchain platform and offer services in Bitcoin, its subsidiary Insight notes that investors should be well informed before investing in the digital asset, due to its volatility. For its part, BNY Mellon considers that Bitcoin, despite its volatility, is smart money that drives a new model of autonomous value exchange, which is revolutionizing the financial system and the banking industry.
Bitcoin and Blockchain Adoption
📍Soros Fund Management entered the world of Bitcoin and cryptocurrencies. Según un report According to The Street, American hedge fund management company Soros Fund Management is offering bitcoin-related products. The portal reported that sources close to the company confirmed that Soros is operating with the cryptocurrency industry leader.
CBDC and Central Banks
📍The Chinese government begins to implement its digital yuan in the Beijing subway. Industrial Bank and Commercial Bank of China (ICBC) are implementing a new digital wallet that allows its customers and users to pay for Beijing subway fares using digital yuan. With this application, the Asian nation launches yet another test for its digital currency CBDC, which will be launched next February at the Beijing 2022 Winter Olympics.
NFT and DeFi Markets
📍Twitter gave away 140 NFTs to users of the platform. The mini-blogging social network surprised all its users this Thursday with a collection of 140 free NFT tokens for network users. The NFT collection, consisting of 7 tokens with original themes from the social network, was minted on the digital marketplace Rarible, where users can earn the NFTs for free by writing on the original Twitter post.
📍World Wide Web creator Tim Berners-Lee's NFT sold for over $5 million at Sotheby's. The British auction house said the source code for the World Wide Web, known as WWW, which Berners-Lee auctioned off as an NFT, received a total of 51 bids and sold for $5,4 million.
📍Famous American singer, actress and businesswoman Katy Perry enters the world of NFTs. The artist announced her involvement in the blockchain streaming platform, Theta Labs, and said she is preparing a collection of non-fungible tokens (NFT) for all of its fans. The collection will be available later this year.
Katy Perry will be capturing her most exciting and memorable events and her “Play” residency on NFTs. The artist said she is very curious and excited about the launch of her NFTs.
Miners
📍Cryptocurrency mining firm Blockware is set to purchase 14.000 mining rigs to expand its business. The firm closed a $25 million funding round that it will use to expand its business. Blockware's plans include invest in the purchase of 14.000 new cryptocurrency mining rigs, of which 8.000 will be installed at its new mining headquarters in Kentucky, United States, to increase its mining power; while the other 6.000 rigs will be sold to other cryptocurrency mining companies in the country.
Rules and Regulations
📍UK's NatWest Group has begun limiting transfers to cryptocurrency exchanges. Reuters reported The British bank is limiting the transactions its clients and users can make on cryptocurrency exchange platforms, citing concerns about financial risks such as fraud and money laundering.
Other UK banking entities are also taking similar measures to comply with regulations set by the country's regulators and ensure the safety and protection of investors.
📍Meanwhile, In Australia, regulators are opening a public consultation to seek feedback on cryptocurrency ETPs. It appears that the Australian Securities and Investments Commission is considering authorizing the creation of ETPs (exchange-traded products) for cryptocurrencies such as bitcoin and ethereum. The financial regulator has opened a period of consultation to learn about the different opinions of stakeholders and the general public on these financial instruments based on cryptocurrencies. He also noted that he was aware of the growth of the industry and the current demand that exists in the country for digital assets.
📍Google will restrict ads for UK companies that are not authorised by the FCA. The Internet Giant reported that from 30 August, all UK companies and advertisers who want to use its advertising platform must be registered with the Financial Conduct Authority (FCA) and present the regulator's authorisation in order to publish advertisements on the platform. Otherwise, they will not be able to offer products and services through Google Ads.
“Google Ads’ financial products and services policy will be updated starting August 30 to introduce new certification requirements for financial services advertisers targeting the UK.”
Google will update its usage policies to comply with regulations established in the United Kingdom to minimize the risks of fraud, scams and other financial crimes.
Continue reading: Congressman Bill Foster calls for reversing cryptocurrency transactions in ransomware cases
