2 years ago

Overnighters,

Episode 543:
Argentina Central Bank Bans Crypto Transactions
Deloitte Integrates Blockchain
BNP Paribas Promotes Digital Yuan
and More

Collect this Cover at: https://awrd.gg/4582

The TL;DL -

Argentina's Central Bank Bans Crypto Transactions-On May 4, Argentina's central bank banned payment providers from offering crypto transactions. The move is a blow to the country's crypto industry, which has grown rapidly in recent years. The central bank banned crypto transactions to reduce the country's exposure to digital assets. Cryptocurrencies are not regulated in Argentina, so they are not subject to the same safeguards as traditional financial products. The ban is likely to hurt the local crypto industry and discourage investment in cryptocurrencies in Argentina.

Kazakhstan's crypto mining tax revenue dropped in 2023, following the government's introduction of new regulations-The drop in revenue suggests that the industry is feeling the pressure, and some miners may be forced to leave the country. This could hurt the local economy, as well as the global crypto-mining market.

BNP Paribas Partners with Bank of China to Promote Digital Yuan-BNP Paribas, a French multinational investment bank and financial services company, has partnered with the Bank of China (BOC) to promote China's digital currency, the digital yuan. The partnership will allow BNP Paribas China's corporate clients to connect with the BOC system and manage their digital yuan wallets, track transactions and make payments using China's digital currency via an e-CNY management system.

Robert F. Kennedy Jr. Opposes CBDCs-Robert F. Kennedy Jr., a lawyer, environmental activist, and author, has come out against central bank digital currencies (CBDCs). Kennedy argues that CBDCs could be used by governments to suppress dissent and control the financial system. He also believes that CBDCs are bad for the environment due to the energy required to mine them.

Deloitte Integrates Blockchain to Improve KYC and KYB Processes-Deloitte, a leading accounting firm, has integrated blockchain technology to improve its Know Your Customer (KYC) and Know Your Business (KYB) processes. The new system, which uses the KILT Protocol, allows Deloitte to issue reusable digital credentials to its customers. These credentials can be used to verify the identity of individuals and businesses, and they can be shared with other organizations securely and efficiently. The new system is expected to make it easier for Deloitte to comply with KYC and KYB requirements, and it could also help to improve the customer experience.

Stripe Launches Fiat-to-Crypto On-Ramp to Support Web3 Companies-Stripe, a leading payment processor, has launched a fiat-to-crypto on-ramp to support Web3 companies. The new service allows Web3 companies to offer their customers the ability to purchase cryptocurrencies with fiat currency. This could help to make cryptocurrencies more accessible to a wider range of users, and it could also help to boost the adoption of Web3 technologies.

(5/7/2023)-Welcome back to the Crypto Overnighter. My name is Nikodemus, I’ll be your host as we take a nightly look at the crypto, NFT, and metaverse space and the industry surrounding it. And keep in mind, nothing in this show should ever be considered financial advice.

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