Bitcoin News and Finance: What You Need to Know

United24, a new fundraising platform announced recently by Ukrainian President Volodymyr Zelenskyy, accepts a number of cryptocurrencies, alongside traditional payment methods. The initiative also permits donors to choose how their money will be spent. Kyiv Launches New Platform for Donations Amid Ongoing War With Russia Ukraine, which has been increasingly relying on foreign donations to support its defense efforts and overcome humanitarian challenges following Russia’s invasion, now offers those who want to help an integrated platform that streamlines the process and allocates financial support in accordance with the donor’s will. According to its website, United24 was launched by President Volodymyr Zelenskyy as the main venue for collecting charitable donations to support Ukraine. The Ukrainian head of state announced the global initiative last week, with his administration pointing out that the goal is to unite people from all over the world in their desire to help the countr...

De Beers, one of the leading diamond-producing companies globally, recently announced the deployment of its blockchain-based diamond source platform at scale. The platform will “enable the provision of provenance information from source to Sightholder to store on a secure blockchain.” Immutable Record of a Diamond’s Provenance One of the world’s top diamond miners, De Beers, recently said it had deployed a blockchain-based diamond source platform at scale. The platform, which is known as Tracr, gives the so-called sightholders the ability “to provide an immutable record of a diamond’s provenance, and [empowers] jewellery retailers to have confidence in the origin of the diamonds they purchase.” The launch of the platform at scale comes nearly four years after De Beers launched the R&D phase, a statement released by the company said. The launch also comes in a year when the company has already “registered one-quarter of its production by value on TracrTM in the first three sight...

Delivering the Queen’s Speech, Prince Charles outlines the British government’s plans to support the safe adoption of cryptocurrencies and create “powers to more quickly and easily seize and recover crypto assets.” UK Government Plans to Support Crypto Adoption The U.K. government outlined its legislative agenda for the next parliamentary year in the Queen’s Speech delivered Tuesday by Prince Charles, the monarch’s son and first in line to the throne. The Queen’s Speech is written by the government and read out by the monarch as part of the official state opening of parliament. Speaking to both the House of Lords and the House of Commons, Prince Charles detailed numerous commitments that Her Majesty’s government will carry out. He mentioned that 22 bills will be introduced, telling parliament that the government’s “priority is to grow and strengthen the economy and help ease the cost of living for families.” One of the bills is the “Financial Services and Markets Bill,” according ...

As U.S. lawmakers push for the urgent regulation of stablecoins, the Financial Stability Oversight Council (FSOC) and the Federal Reserve Board warn about the risks of stablecoin runs that threaten the country’s financial stability. Treasury Secretary Janet Yellen brought up the terrausd (UST) fiasco as an example of why a comprehensive regulatory framework is urgently needed. Treasury Secretary Janet Yellen Testifies Before Senate Committee Stablecoins have become a hot topic in Washington. Following Monday’s terrausd (UST) fiasco, U.S. lawmakers are calling for the urgent regulation of stablecoins. On Tuesday, U.S. Treasury Secretary Janet Yellen brought up UST as an example of a “stablecoin run” during her testimony before the Senate Committee on Banking, Housing, and Urban Affairs on the Financial Stability Oversight Council (FSOC) Annual Report . Senator Pat Toomey (R-Pa.) asked Yellen to confirm her view on the need to regulate stablecoins. “I would like to ask if you can co...

The Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The addition of the unstructured supplementary service data (USSD) functionality to the wallet app means people without bank accounts will be able to make payments using the CBDC. The Update Process The wallet app for Nigeria’s central bank digital currency, the e-naira, is set to undergo an update that will see users being able to pay for regular utilities like pay television and airtime top-up, an official with the bank has reportedly said. According to a Nairametrics report that quotes the official — Yusuf Abdul Jelil — the Central Bank of Nigeria (CBN) will initiate the upgrade process by sending a message to users asking them to update the wallet app. Designated the CBN’s e-naira presentative, Jelil made the remarks while attending an event at Kairo Market in Oshodi, Lagos. “Any moment fro...

A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct investment in the fintech industry.” Foreign Direct Investment ‘Crippled’ A new report has found that restrictions imposed by Nigerian authorities on crypto trading may have contributed to the reduced foreign direct investment that goes to the fintech industry. The same restrictions, as well as the banning of Twitter, have also adversely affected young Nigerians who were earning money via crypto trading. The report , which is titled Africa’s Urbanisation Dynamics 2022: The Economic Power of Africa’s Cities, was jointly published by the secretaries-general of the Organisation for Economic Co‑operation and Development (OECD) and the United Nations (UN). “The restrictions on cryptocurrency transactions and the outright ban of Twitter in Nigeria have crippled foreign direct investment in the fin‑tech industry and negative...

Qualcomm, one of the largest fabless mobile chip makers, is very optimistic about the future of the metaverse and what it might bring for companies and consumers in the area. Qualcomm CEO Cristiano Amon believes that, while there is much to do in the development space, this development is real and will bring a very big opportunity for the people involved. Qualcomm CEO Talks Future of Metaverse Hardware companies are starting to view the recent metaverse push in the software industry as an interesting market for them to tackle. Qualcomm, which is one of the biggest fabless chip makers in the mobile world, is focused on the importance that this new technology might bring to the chip and electronic consumer market in the not-so-distant future. Cristiano Amon, CEO of the company, explained the importance that the company gives to the metaverse in an interview with Yahoo Finance. On the future of the metaverse, he explained : It’s real, it’s going to be a very big opportunity. We star...

The Indian government is reportedly considering imposing a 28% goods and services tax (GST) on all crypto transactions. “Currently tax is levied only on the part of the services provided by crypto exchanges. Subjecting the whole transaction to tax at a higher slab of 28% could give the markets a free fall,” one tax expert warned. Council Mulls Over 28% GST on Crypto Transactions India’s Goods and Services Tax (GST) Council will soon make a decision on whether to expand the scope of applicable transactions and levy a 28% GST on all services and activities related to cryptocurrencies, CNBC TV18 reported Monday. The GST Council is the apex decision-making body chaired by the country’s finance minister. The council has nominated its law committee to form a view on the GST issue relating to cryptocurrency. Sources told the publication: There are various aspects of cryptocurrencies — the transactions involving cryptos, cryptos being used to make purchases, cryptos being received as pay...