Discover the top news in crypto for the week!
New research shows record adoption of digital assets from the US to Singapore while more investors diversify their digital portfolios. At the same time, the influence of Blockchain and decentralization increases across industries. Read more about the top crypto news of this week.
Regulation is positive for crypto. Here’s why.
Regulations for individuals and organizations dealing with crypto are rising across countries to protect investors and streamline frameworks to simplify operations.
Institutions with a lack of KYC, AML, and CTF procedures can cause investors to lose or have locked funds due to a lack of security or limits for withdrawals amid periods of high interest.
Using a regulated bank like Sygnum brings the security of an institutional-grade solution while making it easy to invest in a new assets class comfortably.
Singaporeans are adopting crypto.
A recent Gallup poll reveals that 43% of Singaporeans own crypto, while 46% plan to invest in the next year.
Most participants in the survey are aware of Bitcoin, while 59% believe it will reach mainstream adoption in the future.
Younger generations own crypto at a higher rate (66%) while believing that individuals and businesses will adopt digital assets.
The Metaverse comes closer to the mainstream.
Metaverse or Web 3 comprises the next arena of decentralized companies shaping the internet of the future.
This week, Forbes highlighted an interview with Mark Zuckerberg, claiming that Facebook will become a metaverse company in 5 to 10 years.
At the same time, other social media companies (Snap) continue to invest in Augmented Reality while metaverse-based startups keep attracting funds from venture capitalists.
More than 80 countries are exploring CBDCs.
Atlantic Council revealed that 81 countries worldwide are currently studying Central Bank Digital Currencies (CBDCs).
Currently, five countries have launched fully-fledged CBDCs, mainly in the Caribbean region, while 14 countries are conducting pilots.
From the major economies worldwide, China is the most advanced country studying CBDCs, while more discussion occurs about the digital euro and the digital dollar.
Decentralized Finance impacts several business sectors.
Beyond crypto’s market potential, decentralized projects are changing industries, simplifying archaic processes, and lowering costs.
Decentralized projects are launching new assets into the decentralized arena and tackling financial ligation systems with tokenization.
Decentralization is also impacting the regulatory field and tackling crypto’s energy footprint with new Blockchain-based solutions.
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