Day: August 8, 2023

Use crypto to buy sim cards in 140 countries with Bitrefill

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A partnership between crypto e-commerce platform Bitrefill and eSIM Go enables crypto users to buy eSIMs in 140 countries worldwide. Crypto advocates can now swap crypto for data at the checkout, using Bitcoin (BTC), the Bitcoin Lightning Network, Ether(ETH) and stablecoins like Tether (USDT). The move makes it easier to live on crypto and travel the world. Bitrefill founder and CEO Sergej Kotliar shed light on the new development via email: “Everyone who uses data on their phone is a potential customer […]. Right now, we’re directing it at travelers…

Market Doesn’t React Much to PayPal Stablecoin

Bitcoin and ether remained little changed over the past 24 hours, another sign of just how tepid the market is, as even the entry of payment giant PayPal (PYPL) into the stablecoin market failed to move the needle. Both bitcoin and ether haven’t moved much in price on the day and have seen low trading volumes over the past few weeks. “The prevailing outlook suggests that in the absence of an ETF-triggered catalyst or substantial cryptocurrency-related drama, these price levels could persist for an extended period,” Matteo Bottacini, at Crypto…

Crypto Analyst Deciphers XRP Price Movement: What’s Next For The Altcoin?

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One of the leading names in the crypto analysis sector, Michael van de Poppe, recently shed light on XRP’s price movements. Known for his crypto observations, his latest tweet has stirred conversations in the crypto community, especially pertaining to Ripple’s native cryptocurrency, XRP. In his most recent analysis, van de Poppe indicated that XRP’s price movement is now at a critical juncture.  XRP Entering The ‘Area Of Interest’ Particularly, according to Michael van de Poppe’s tweet, XRP is currently moving into what he terms an ‘area of interest’ on its…

Bank of England will get more power in regulating stablecoins

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The United Kingdom government could rebalance the power between the Bank of England (BoE) and the country’s principal financial regulator, the Financial Conduct Authority (FCA), in the former’s favor, according to a 40-page consultation response published by His Majesty’s Treasury on Aug. 7.  The British government launched the consultation under the headline “Payments Regulation and the Systemic Perimeter” in 2022 to get market proposals on reforming the BoE payments perimeter, given the evolution of financial stability risks. The final paper sets out some measures for regulating so-called “systemically important stablecoins.” The…

Artificial Investment Will Be One of the Most Important Investment Themes Over the Next Decade: Morgan Stanley

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US official calls for stablecoin law amid PayPal’s PYUSD launch

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Representative Patrick McHenry, the US House Financial Services Committee chair, endorsed PayPal’s stablecoin, PYUSD, as a key pillar for modern payments. The endorsement was given on Aug. 7, shortly after PayPal announced the stablecoin launch in partnership with Paxos. In his statement, McHenry emphasized that PayPal’s stablecoin, issued under a clear regulatory framework, holds significant potential for the US financial ecosystem. This comes amid the Financial Services Committee’s effort to enact the Clarity for Payment Stablecoins…

PayPal’s PYUSD Launch Triggers Calls For Stablecoin Bill

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United States Republican Patrick T. McHenry, Chair of the House Financial Services Committee, has released a statement calling for the need to pass the Stablecoin Bill in the wake of PayPal’s launch of its own stablecoin PYUSD.  The Call For A Stablecoin Law According to the statement, McHenry believes stablecoins are the “pillar of our 21st-century payments system.” However, they must be regulated to reach their full potential.   Part of the statement read: This announcement [Paypal’s PYUSD Launch] is a clear signal that stablecoins—if issued under a clear regulatory framework—hold…