Deputy Juan Sartori follows in the footsteps of El Salvador and Paraguay and presents his bill for the adoption of bitcoin and cryptocurrencies in Uruguay. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍Fast food restaurant chain Quiznos begins accepting Bitcoin payments. Quiznos partnered with a platform cryptocurrencies, to start processing payments in BTC. According to the restaurant chain in a statement release, the interest and demand for bitcoin (BTC) is growing, so the company wanted to take a major step towards innovation and adopt cryptocurrency as a means of payment. For now, only select Quiznos restaurant locations in the United States will accept BTC payments.
📍ReportLinker's latest report indicates that the global blockchain identity management market will grow to $3.500 billion in 2021-2025. The market research solutions provider notes that digital services, cloud solutions and digitalization are growing at an accelerated pace, driving a new digital society. Due to this, the identity market in blockchain is poised to grow at an annual rate of 71% to a valuation of over $3.500 billion.
📍60% of consumers want to buy things with cryptocurrency, says Pymnts. Payments publication Pymnts notes that a large portion of Americans, whether or not they use cryptocurrencies, agree that these digital assets should be used in everyday payments. results A survey of 8.008 US consumers, both cryptocurrency owners and non-owners, indicates that almost 60% agree with using cryptoassets as a means of payment, due to their security, speed and privacy.
NFT and DeFi Markets
📍Digital asset management company BitWise launches two investment funds in Aave and Uniswap. Wall Street investors want to enter the world of decentralized finance (DeFi), BitWise said, which is why it is launching two new investment funds in two of the most important DeFi protocols to meet the growing demand of its investors.
Decentralized finance protocols are gaining increasing popularity among cryptocurrency investors and hedge funds, reported the consulting and analysis firm PwC. Uniswap is the leading DEX protocol in the decentralized ecosystem, while Aave is the leading protocol for cryptocurrency lending.
Rules and Regulations
📍Uruguay is also taking steps towards the adoption of bitcoin and cryptocurrencies. Deputy Juan Sartori presented a bill to promote the adoption of bitcoin and cryptocurrencies in Uruguay, he reported via Twitter. Sartori's intention is to legalize and regulate transactions and the use of bitcoin and cryptocurrencies in Uruguay by implementing a complete and defined regulatory framework.
With the presentation of this proposal, Uruguay joins the wave of Latin American countries that want to adopt the innovation of bitcoin and cryptoassets to boost their development and encourage foreign investment.
📍OCC begins reviewing cryptocurrency custody by banks and financial institutions. The current Acting Comptroller of the Currency, Michael Hsu, indicated that the OCC is beginning to review the custody authorization that the OCC allowed under the administration of Brian Brooks, known as the most crypto-friendly U.S. regulator.
Hsu said before the United States Senate that the Office was able to issue these authorizations without being coordinated with all the interested parties, so a thorough review was essential. On the other hand, the regulator also declared that it agrees with granting statutes to financial technology companies in the country.
📍HSBC follows in the footsteps of the UK Financial Conduct Authority and suspends payments to Binance. El exchange The cryptocurrency exchange with the highest daily trading volume continues to face tough regulation from authorities in various parts of the world. Now, the multinational banking and financial services company HSBC announced that payments with Binance will be suspended until further notice.
HSBC customers are already receiving warnings from the company that operates the world's sixth-largest bank.
📍Meanwhile, Sberbank has been ordered to unblock the accounts of a Bitcoin trader by order of the Sverdlovsk Court. According to order, the bank now known as Sber blocked the accounts and banking products of a bitcoin user engaged in trading with the cryptocurrency. Apparently, the bank made the decision to cancel the banking products of citizen Pavel R., a resident of Revda (Russia), pointing out suspicious activities. However, although the user provided details of his financial transactions, the bank refused to restore his services, so Pavel decided to go to court.
The order issued by the Sverdlovsk Regional Court orders Sberbank to unblock the citizen's bank accounts and cards.
📍New bill for mortgage payments with cryptocurrencies is presented in Spain by the Popular Party. PP members want cryptocurrencies to be accepted in Spain for mortgage payments; they also want to create a national cryptoasset council, according to the proposal of a law recently presented to the Spanish Congress. The objective behind this proposal, according to the party, is to regularize the use of cryptocurrencies in the country.
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