Crypto News Daily
Dear Readers today we are going to publish some Selective news All around the World that we feel that they worth it for our users in Crypto Industry.
CRYPTO NEWS HEADLINES
Table of Contents
- Central African Republic Becomes Second Nation in History That Adopt Bitcoin (BTC) As Legal Tender
- India To Be Considerate With Crypto Regulations with indication that government shall not kill Inovations.
- Goldman Sachs Offers First ‘Bitcoin-Backed’ Loan; Crypto-Backed Real Estate is Now a Thing
- Panama’s government on crypto:- No Legal Tender, but Digital Assets Exempt From Capital Gains Tax
- VeChain (VET) is continuously increasing its popularity and use case and this is Huge.
Central African Republic Becomes Second Nation in History That Adopt Bitcoin (BTC) As Legal Tender
Summery:- An African country has become the second nation on Earth to accept Bitcoin (BTC) and other crypto assets as legal currency.
By Following in the nation El Salvador, the Central African Republic (CAR) has announced it has become the first African nation in the world to legally support crypto currencies.
“The President of the Republic [and] Head of State will support all necessary efforts, in compliance with the law, in order to complete this process which places the Central African Republic on the map of the most courageous and visionary countries in the world [that have accepted] cryptocurrency as means of payment.
El Salvador became the first nation to adopt crypto assets as legal tender last year. Other countries, such as Ukraine and Mexico, have similar bills in the works though neither has yet to pass their respective legislative processes.
CRYPTO NEWS HEADLINES
India To Be Considerate With Crypto Regulations with indication that government shall not kill Inovations.
Summary: – Decisions regarding crypto regulations shall not be rushed, says Nirmala Sitharam, the Finance Minister of India. In an interaction at Stanford University, Sitharam flagged concerns over alleged illegal activities and misuse of the digital asset has stated that India shall be thoughtful regarding imposing crypto regulations.
Nirmala Sitharam conveyed in the interaction, that;
As she said “It will have to take its time…all of us to be sure that at least with a given available information, we’re taking the decern decision. It can’t be rushed through”
The main concern around cryptocurrency that has been highlighted by the Finance Minister of India several times, has been the chances of money laundering and terror financing. She stated that other countries have the same concerns.
These are some of the concerns, not just India, but many countries of the world have and are also discussed in global, multilateral platforms.
The finance Minister also clear that They are Open to promoting innovation around the country
and the report presented by PTI, the Central Government of India seems to be open to promoting innovation in the crypto industry with no intention of hurting it. Previously government also stated that they are going to accept Blockchain technology for further financial and admin developments. LIKE CDBC etc .
It was also reported that well-grounded progress in the distributed ledger was being introduced into the blockchain space.
CRYPTO NEWS HEADLINES
Goldman Sachs Offers First ‘Bitcoin-Backed’ Loan; Crypto-Backed Real Estate is Now a Thing
Summery :- Goldman Sachs offered its first bitcoin-backed loan on Thursday, according to Bloomberg.
The secured lending facility allowed a borrower to put up BTC as collateral for a cash loan.
A Goldman spokesperson says the loan was interesting in both structure and its 24/7 risk management.
Wall Street is moving its feet closer into crypto, as Goldman Sachs offered its first bitcoin-backed loan on Thursday, according to Bloomberg News.
The secured lending facility allowed a borrower to use bitcoin (BTC) as collateral for a cash loan. Under this arrangement, a bitcoin holder is able to obtain fiat money – U.S. dollars in exchange for putting up their BTC as collateral to the bank.
This week, blockchain real estate platform, Propy announced that customers are now able to put up their own digital assets as collateral for real estate purchases made through Abra Borrow, a crypto lending and borrowing service. The crypto that is pledged on Abra is then used to borrow U.S. dollars which can then be applied to home purchases.
CRYPTO NEWS HEADLINES
Panama’s government on crypto:- No Legal Tender, but Digital Assets Exempt From Capital Gains Tax
Panamanian Congressman Gabriel Silva – the sponsor of a bill passed on Thursday regulating the use of cryptocurrencies in the country – said the bill doesn’t allow for any crypto to become legal tender, but makes possible free use of crypto as a means of payment for any transaction.
Prior to the bill, said Silva, it was illegal for digital asset companies to set up shop in Panama, but that would change once the legislation becomes law.
Prior to the bill, said Silva, it was illegal for digital asset companies to set up shop in Panama, but that would change once the legislation becomes law.
CRYPTO NEWS HEADLINES
VeChain (VET) is continuously increasing its popularity and use case and this is Huge.
Till Now Ve chain is accepted over 2Million stores in the form of Payment in 70 countries
VET, the coin behind the supply chain blockchain project of VeChain, is now accepted as a form of payment in over 2 million stores that span 70 countries. The new availability of VeChain as a payment option results from a new partnership with the crypto payment services provider of Alchemy Pay.
Alchemy Pay focuses on retail transactions using point-of-sale devices. Additionally, Alchemy Pay’s mission is to increase access to crypto with fiat currency, thus boosting the adoption of blockchain technology.
The announcement of the partnership between VeChain and Alchemy Pay was made via Twitter. It included a Youtube video showcasing an example of where VET is now accepted as a payment option. The video features a clothing and shoe store in an undisclosed location and a purchase being made comfortably with VET.