Cryptocurrency News – March 2022

Cryptocurrency News – March 2022

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The well-known music streaming company – Spotify – is about to enter the NFT market. The main goal, of course, is to increase the revenue of the artists and thus the Spotify portal and app itself.

Russia is considering accepting Bitcoin as a means of payment in gas and oil transactions. This information comes from a high-ranking lawyer close to Vladimir Putionov – PaweĊ‚ Zawalny, a deputy in the Russian Duma. According to the information received from him, Russia-friendly countries will be able to pay with Bitcoin for oil and gas supplies, while those “unfriendly” should pay in rubles, which would strengthen the Russian currency.

Jerome Powel – the head of the US Federal Reserve – believes that cryptocurrencies need further regulation. He stated that they may threaten the stability of financial institutions and the financial system. Additionally, he believes that it will be necessary to create not only new legal regulations, but possibly the entire legal system and its framework covering the world of digital money.

BlacRock director Larry Fink believes that Russia’s war with Ukraine will accelerate the adoption of cryptocurrencies in the real world and international transactions. He also informed that his company is examining the possibility of investing in cryptocurrencies in more detail as their clients ask about it.

Honduras is withdrawing from recognizing Bitcoin as official tender in the country. Instead, he is working on his project of the electronic digital currency CBDC.

The well-known Korean manufacturer of consumer electronics – LG Electronics – has changed its official business development goals by adding blockchain technology and encrypted electronic currencies. It is quite important that such a large company directs its eyes and strategic goals to this area. The operating activities are to include both the development and sale of blockchain-based software and brokerage in cryptocurrency trading. The latter element caused suspicions that Lg wanted to open its own cryptocurrency exchange.

Meta (formerly Facebook) has filed 8 patent applications related to blockchain technology, cryptocurrencies and tokens. This means that Mark Zuckeberg’s company is planning a major offensive to develop these technologies in-house.

New York may ban cryptocurrency mining that is based on the proof-of-work concept. This is due to other New York State regulations that limit greenhouse gas emissions.

Florida will allow you to pay taxes in cryptocurrencies. Work on relevant regulations related to this is already underway, the Governor of this state informed.

On the other side is the Thai government, which from April 1 prohibits making payments through digital currencies in this country. According to the rulers, they are supposed to threaten the economy and the financial system. Any promotion of this technology will also be prohibited.

Goldman Sachs completed the first major cryptocurrency transaction in the financial industry. The other party to the transaction was Galaxy Digital.

Crypto.com has signed a sponsorship agreement with FIFA for the FIFA World Cup to be held in Qatar in 2022. The Crypto.com logo will appear in the stadiums.

Malaysia wants to accept Bitcoin as official tender.

According to a recent report by the US Treasury Department, fiat money is much more often used for illegal transactions, financing terrorism or money laundering from cryptocurrencies.