Federal Reserve’s FedNow Set for Mid-2023 Debut

“The benefits of instant payments are increasingly important to consumers and businesses, and the ability to provide this service will be critical for financial institutions to remain competitive,” Ken Montgomery, FedNow Service program executive, said in the central bank’s press release. Source

Central African Republic court says new $60,000 citizenship by crypto investment program is unconstitutional

According to Reuters, on Monday, the Central African Republic’s (CAR) Constitutional Court said that the purchase of citizenship, e-residency and land using its government-backed Sango digital currency is unconstitutional due to the absence of market value in nationalities. Earlier in July, the CAR’s government unveiled its Sango crypto hub to attract global crypto talent/enthusiasts, boost Bitcoin adoption and implement new crypto regulatory frameworks. The Sango blockchain is built on top of the Bitcoin blockchain, similar to a layer-2 solution.  Part of the program includes a citizenship by investment program, where…

Bitcoin Price Rebounds After Falling Below The $20,000 Mark

The crypto market capitalization has just dived below the $1 trillion mark. We’re not surprised, given the recent negative turn of events. Bitcoin itself has plummeted below the $20k mark. Now BTC price is at $20,143. The case is also not better for altcoins. Ethereum, the second colossal crypto, has also recorded some losses in price. As of August 29, ETH’s price stands at $1,537 after gaining a 7% growth. All these price losses have caused the crypto market cap to fall below the $1 trillion mark. As of August…

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The End of the Texas Bitcoin Mining Gold Rush

The state’s grid operator, the Electric Reliability Council of Texas, or Ercot, has slowed issuance of new permits for miners to connect to the grid, said Steve Kinard, director of bitcoin mining analytics at the Texas Blockchain Council (TBC), an industry association. Ercot is trying to balance the state’s demand and supply of electricity. Source

Veve Partners With Marvel to Drop Limited Edition NFT Covers Featuring Spider-Man, Black Panther – Blockchain Bitcoin News

On August 29, the digital collectibles company Veve announced that the platform has launched digital variant non-fungible token (NFT) covers from three Marvel comic book artists. Veve and Marvel detailed that the NFT drops called the Marvel Artworks collection will be limited edition, 1-of-1 releases of three Marvel comic covers featuring Spider-Man, and the Black Panther. Veve Reveals Marvel Artworks Collection Marvel Entertainment continues to release products for the NFT industry with the company Veve Digital Collectibles. The two firms recently revealed plans to drop three limited edition NFTs from…

Australian regulators rattle their saber as adoption takes a major leap: Law Decoded, Aug. 22–29

Australia’s financial regulator, the Securities and Investments Commission (ASIC), has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years. The regulator intends to focus on “digitally enabled misconducts” and to protect investors “from harms posed by crypto-assets.” Given the ASIC’s history of anti-crypto sentiments, such an announcement could be perceived as hostile, but at least it contains a promise to implement some regulatory framework that is still absent.  And it is hardly a coincidence that the announcement came only days after…

Australian regulators rattle their saber as adoption takes a major leap: Law Decoded, Aug. 22-29

Australia’s financial regulator, Securities and Investments Commission (ASIC), has pledged to put crypto assets and decentralized finance (DeFi) firmly in its sights over the next four years. The regulator intends to focus on “digitally enabled misconducts” and to protect investors “from harms posed by crypto-assets.” Given the ASIC’s history of anti-crypto sentiments, such an announcement could be perceived as hostile, but at least it contains a promise to implement some regulatory framework that is still absent.  And, it is hardly a coincidence that the announcement came only days after Australia’s…