Quote of the week: “The solution is not to shoehorn digital asset operations into a regulatory system designed for earlier generations of financial assets…” Charles Cascarilla, CEO of Paxos. Source: https://finance.yahoo.
Regulation Featuring India: On November 23, the Indian government reported that it was considering a bill that would ban all private cryptocurrencies, which sparked market chaos and panic. On December 3, reports from local media reported that the Indian government will not move for an outright ban on cryptocurrency and will instead regulate it. Source: https://cointelegraph.com/
Update on El Salvador: El Salvador bought the Bitcoin dip this past week, purchasing 150 Bitcoin. With this purchase, El Salvador’s Bitcoin reserve now is worth $60.3 million, which is approximately 1,270 BTC. Source: https://cointelegraph.com/
Visa is Now Offering Crypto Advisory Services: Visa has formed a global crypto advisory service in an effort to assist financial institutions to develop their cryptocurrency businesses. Visa’s advisory team will work parallel to the company’s consulting and analytic divisions to help assist banks with their cryptocurrency strategies. Source: https://www.coindesk.com/
Mass Adoption on WhatsApp: Recently, it was announced that WhatsApp started testing currency payments with Meta’s Novi Wallet, despite some United States senators opposing Meta launching its own digital currency products and services. According to the executive, the new feature is available to a restricted number of people, but it is allowing users to send and receive money on WhatsApp instantly and with no fees. Source: https://
Crypto Debit Card: Ledger is the latest cryptocurrency company working on a cryptocurrency debit card that connects to a cryptocurrency wallet. The company announced that it plans to launch its own debit card called the Crypto Life card. Source: https://finance.yahoo.com/