Crypto Trends Weekly 10 – 16 July

    20 Jul 2021

    Breaking crypto news from the last week (10 – 16 July 2021):

    10 July: The BIS, the IMF, and the World Bank called to the G20 to create a cross-border network of central bank digital currencies (CBDC), underpinned by efficient technological integration and proactive international cooperation, which could be of significant benefit to the world economy.

    11 July: The U.S. Federal Reserve singled out a surge in the price of cryptocurrencies for the first time in its overall assessment of the stability of the financial system. The regulator noted the rise reflected the increased risk appetite by investors.

    12 July: The United Arab Emirates announced plans to implement a central bank digital currency (CBDC) as early as 2023. According to the three-year plan for 2023-2026, the Central Bank of the UAE (CBUAE) intends to become among the top 10 regulators worldwide.

    13 July: S&P Dow Jones financial index provider has launched five new cryptocurrency indices, bringing its total number of crypto indices to eight. It’s the first major expansion of S&P’s crypto benchmarking tools since entering the market in May.

    14 July: Visa releases Bitcoin spending card for Sydney-based digital assets startup CryptoSpend. A physical debit card will allow Australians to spend their Bitcoin at local merchants.

    15 July: PayPal increased its weekly crypto purchase limit fivefold. Users can now buy up to $100,000 of Bitcoin and other digital currencies per week, up from a previous limit of $20,000. The company is also scrapping its annual purchase limit of $50,000.16 July: Square CEO Jack Dorsey announced the fintech company to create a new standalone business that will act as a platform for developers to build decentralized finance projects based on Bitcoin. The new business will combine the efforts of CashApp, Seller, and Tidal in the same goal of DeFi services.

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