Day: April 18, 2023

Israel’s central bank says CBDC could be issued if stablecoin use increases

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The Bank of Israel says it’s preparing an action plan for the potential issuance of a central bank digital currency (CBDC),though a formal decision has yet to be made. On April 17, the Bank of Israel Steering Committee on the Potential Issuance of a Digital Shekel outlined possible scenarios for the development and deployment of a CBDC, a digital shekel called “SHAKED.” It provided several scenarios that could lead to the issuance of a digital shekel, among them was increased stablecoin activity. Increased adoption of stablecoins may “impair the payment…

Lamina1: Building the Open Metaverse with Web3 Infrastructure and Interoperability – Crypto Projects to Watch 2023

What is the metaverse? The word conjures up the idea of a single space in which users can log onto and experience its robust virtual worlds. In practice, so far at least, it is multiple spaces, centralized or decentralized, where users can access multiple different metaverse experiences, each siloed away from the other without interoperability. Source BuildingCryptoInfrastructureInteroperabilityLamina1MetaverseOpenProjectsWatchWeb3 CryptoX Portal

Coinbase to help UK on Web3 hub as Treasury reportedly revives blockchain taskforce

The United Kingdom could “turbocharge” its crypto sector and be an “innovation hub for the Web3 economy” as part of a vision laid out by cryptocurrency exchange Coinbase. The comments by the exchange coincide with an April 17 Sky News report that the U.K. Treasury is set to revive the Asset Management Taskforce with a focus on developing crypto regulation in collaboration with the private sector. In an April 16 blog post, Coinbase emphasized the firm is working “seriously” in the U.K. and Europe. It praised the progressive regulatory efforts…

MicroStrategy’s Saylor fuses work email address with Bitcoin Lightning

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The Bitcoin (BTC) Lightning Network has integrated into the corporate email address of Michael Saylor, a Bitcoin bull and co-founder of business intelligence software firm MicroStrategy. In an April 17 tweet, the former chief executive of the firm shared a screenshot with his 3 million Twitter followers of a few transactions sent to “saylor@microstrategy.com” from others in the form of Satoshis or “Sats” — the smallest denomination of Bitcoin. So @MicroStrategy converted my corporate email address into a #Lightning⚡️ address and people keep sending me 21 sats… pic.twitter.com/FHde6RtA6N — Michael…

EU legislators call for ‘safe’ AI as Google’s CEO cautions on rapid development

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A dozen European Union (EU) politicians have signed a letter calling for the “safe” development of artificial intelligence (AI) as Google’s CEO cautioned against releasing powerful AI tech before society has had a chance to adapt. An April 16 open letter shared on Twitter by EU Parliament member, Dragoș Tudorache, called for a collaborative effort and a universal set of rules around the development of AI. Tudorache, along with 11 other EU politicians named in the letter, asked the European Commission President Ursula von der Leyen and United States President…

IMF Says Sub-Saharan Africa Already Feeling Effects of the ‘Big Funding Squeeze’ – Economics Bitcoin News

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Countries from the Sub-Saharan Africa (SSA) region face a “big funding squeeze” which is forcing some of them to cut spending on health, education, and infrastructure. According to Abebe Aemro Selassie, people from the region are already “feeling the effects of the funding crisis.” The IMF says countries from the SSA region should also consider having in place “a well-functioning debt-resolution framework.” Region Faced With Increased Borrowing Costs and Reduced ‘Access to Cheaper Funding’ According to the International Monetary Fund, the Sub-Saharan Africa (SSA) region faces a “big funding squeeze”…

Australian crypto scams increased by over 162% with nearly $150M lost

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Australians lost $148.3 million (AUD$221.3 million) from investment scams where cryptocurrency was used as the payment method in 2022 — a 162.4% increase from 2021. According to an April 17 scam activity report from the country’s consumer regulator, the Australian Competition and Consumer Commission (ACCC), 3,910 crypto scam incident reports were made in total and the average Australian victim was stripped of $37,900 (AUD$56,600). The $148.3 million figure represents 7.1% of the total $2.08 billion (AUD$3.1 billion) worth of scams reported in Australia for 2022. Our latest Targeting Scams report…

Bitcoin Surge Parallels Price Movement in 2019: Analyst

In a research note to clients last week, Lunde wrote that bitcoin could reach $45,000. BTC was currently trading at about $29,440, down 2%, although it is up about 80% in 2023. The rebound follows a year of distress, in which multiple major firms declared bankruptcy, sending risk-shy investors fleeing from crypto markets. Source