Bitcoin News and Finance: What You Need to Know

A new cryptocurrency bill project was introduced by the executive power to the Parliament of Uruguay. The bill seeks to clarify how crypto assets will be regulated in the country, giving the Central Bank of Uruguay competence over cryptocurrency assets, modifying its organic charter, and introducing the Superintendence of Financial Services as the organization to oversee virtual asset service providers. Uruguayan Executive Power Proposes Crypto Bill The executive power in Uruguay has presented a bill project to the parliament of the country with the objective of clarifying how cryptocurrency asset-related activities will be regulated. This, if approved, will be the first bill to address the gray area in which cryptocurrency exchanges and virtual asset service providers operate in the country. The proposed bill modifies the organic charter of the Central Bank of Uruguay and introduces the Superintendence of Financial Services, an organization part of the central bank, as the main o...

Investment management firm State Street says that institutional clients are not deterred from investing in crypto assets despite price declines. “There is a belief that the asset class is here to stay,” a State Street executive said. State Street on Institutional Demand for Crypto State Street, a leading investment management firm, sees unwaning institutional demand for cryptocurrency despite market sell-offs, the Sydney Morning Herald reported Monday. Irfan Ahmad, State Street Digital’s product lead for the Asia-Pacific region, said the banking giant’s institutional clients are still keen on crypto and its underlying technology. He was quoted as saying: During the course of the June, July period where things were really hotting up in terms of activity, we saw institutional clients not necessarily double down, but they weren’t really deterred from placing strategic bets on the asset class itself. “The takeaway from that is, I think, there is a belief that the asset class is her...

Jeremy Grantham, the co-founder of the Boston-based asset management firm Grantham, Mayo, & van Otterloo (GMO) believes Standard and Poor’s 500 (S&P 500) could drop another 26% during the next 12 months, according to statements the veteran investor made last week. The GMO co-founder detailed his bearish sentiment by mentioning he’s shorting junk bonds and the Nasdaq Composite as well. GMO Co-Founder Says ‘Deterioration in Fundamentals’ Is Shocking — ‘Central Banks Will Be Spooked, They’ll Do What They Can, Maybe’ The investor and GMO co-founder Jeremy Grantham’s stock market outlook is gloomy, and last Wednesday he told the Reuters Global Markets Forum that things could be far worse than the subprime mortgage fiasco 15 years ago. “This is a more dangerous looking moment in global economics than even the madness of the housing bubble of 2007,” Grantham opined during the Reuters event. Grantham is a well known investor and entrepreneur on Wall Street, as he started one of th...

Leading automotive company Ford has filed 19 trademark applications related to possible metaverse activities. In the documents, the company hints at the potential launch of Ford-branded NFTs (non-fungible tokens) on its own marketplace, and also refers to the offering of virtual models of its cars, including Mustang, Mustang Mach-E, and the Bronco. Ford Hints at Metaverse Move Ford, one of the biggest U.S.-based automotive brands by sales, has introduced several trademark applications to the U.S. Patent and Trademark Office (USPTO), preparing for a potential push into the metaverse. The company is seeking to protect its activities in the therein, including the offering of Ford-branded NFTs on an NFT marketplace of its own. These NFTs might contain text, audio, or video related to the brand. Part of these applications seeks to protect the digital representation of some of Ford’s most popular models, including the 150 Lightning, Lincoln, Ford, Lightning, Bronco, Explorer, Raptor, Mus...

PRESS RELEASE. In the face of financial regulators’ overall negative attitude toward digital assets, P2P marketplaces have become the platforms of choice across Africa. As the world leader in P2P cryptocurrency exchange, Kenya has drawn much attention from many P2P exchange service providers. Bitpapa is one of them, and it has recently entered the Kenyan crypto market. As a global P2P marketplace operating worldwide, Bitpapa has been offering cryptocurrency trading services since 2018, only a matter of time before it entered the highly lucrative Kenyan cryptocurrency market. Thanks to Bitpapa , now users can trade their Bitcoin (Ethereum, TON, Monero and USDT ) for the Kenyan shilling in a safe and secure P2P environment via a website, mobile app or a Telegram bot (unique among crypto trading platforms). There is the ease of convenience for users via a simple registration with an email address. No ID verification is required or confirmation with a phone number. Users can start...

The People’s Bank of China has urged for widening of the array of use-case scenarios for its central bank digital currency. The monetary authority believes that deeper interconnection with traditional e-payment platforms will make the digital yuan more convenient for consumers. China’s Central Bank Insists on Expanding Digital Yuan Environment The monetary policy regulator of China has called for improving the integration between the digital yuan (e-CNY) system and traditional tools for electronic payments. The People’s Bank of China (PBOC) says this will increase convenience for users of its central bank digital currency (CBDC). To achieve that, additional efforts should be made to expand the scenarios and environment for the use of the digital yuan, PBOC Deputy Governor Fan Yifei emphasized in a statement during a recent forum on digital finance held in Beijing. Quoted by the government-run China.org.cn news portal, Fan elaborated that regulations and standards in areas such as ...

Dario Nieto, a lawmaker in the city of Buenos Aires, has introduced a bill that would use blockchain systems to make social aid payments in order to bring clarity to these activities. Nieto has complained about the different intermediaries that use these social campaigns to make money and how introducing blockchain might eliminate these activities. Social Aid Blockchain Law Introduced in Buenos Aires Many systems are using blockchain due to the traceability that this tech might bring to any implementation. Senator Dario Nieto, a lawmaker for the city of Buenos Aires, is proposing to use blockchain as a fundamental part of a system to manage social aid payments. For this, he introduced a bill that would bring many of the activities derived from these programs to an end. In his view, payments coming from social aid programs are used regularly by different intermediaries to make money or to force recipients to participate in political activities. On this, Nieto stated : The manageme...