Trump Vows To Be ‘Crypto President’ – Law Decoded
Former United States President Donald Trump is stepping up his cryptocurrency advocacy as part of his 2024 presidential campaign.
Trump reportedly said he's “going to be president of crypto” in San Francisco at a fundraising event hosted by Craft Ventures general partner David Sachs and tech billionaire Chamath Palihapitiya.
Trump has also reiterated his support for crypto and his plans to push the industry forward, highlighting the Democratic Party's willingness to take the opposite approach with stronger regulations.
However, some experts believe that a crypto shift is happening in Washington. Bitwise chief investment officer Matt Hougan thinks the U.S. is finally moving toward regulatory transparency, which could unlock the country's $20 trillion financial advisory industry.
Meanwhile, the industry isn't just waiting for things to change. Crypto exchange Coinbase has donated $25 million to crypto-focused super political action committee (PAC) Fairshake as it wraps up its lobbying efforts ahead of the November US election.
The latest donation brings the total raised by the PAC and its affiliates this election cycle to $160 million. This amount matches recent donations from Ripple and venture capital firm Andreessen Horowitz.
Qatar launches first phase of CBDC project.
The Qatar Central Bank (QCB) has completed the infrastructure for the Central Bank Digital Currency (CBDC) project and launched the first phase of a pilot project. QCB deals with the settlement of large payments between large domestic and international banks.
Few details of the project have been released. The state news agency said it will focus on distributed ledger technology and artificial intelligence. The project will last until October.
A day before the unveiling of the CBDC project, QCB launched a new fintech sandbox. The Express Sandbox offers “reduced testing time, faster testing cycles and a streamlined overall evaluation process” to qualified participants.
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Worldcoin has stopped Spanish operations
Spain's data protection agency has announced that the company behind the human identity and financial network WorldCoin will no longer collect and process data until the end of 2024 or until the final decision of an ongoing investigation.
The Bavarian data protection authority is investigating the company regarding its handling of personal user data.
Spain and Germany are just two of the many countries that have raised eyebrows at the Worldcoin plan.
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The Central Bank of the United Arab Emirates has approved a licensing system for stablecoins
The Central Bank of the United Arab Emirates (CBAE) Board of Directors has approved a new system to regulate and license the stablecoin. This initiative aims to boost digital transactions, boost the country's digital economy and boost innovation.
According to the local lawyer, the rules explain the issuance, authorization and control of payment tokens backed by dirhams. Payment tokens must be backed by UAE dirhams and cannot be linked to other currencies, digital assets or algorithms.
In February, the CBUAE announced that it would issue a CBDC. The issuance of the CBCC aims to address cross-border payment inefficiencies and encourage domestic payment innovation.
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