Crypto Trends Weekly Apr. 23 – 29

    02 May 2022

    Breaking crypto news from the last week (Apr. 23 – 29, 2022):

    Apr. 23: Crypto assets are tracing a path back onto investors’ radar, notes Fred Pye, CEO and Chairman of Canadian investment fund 3iQ Corp. Anticipating the further pivot to crypto, he suggests that what’s happening at the present moment is only accelerating the crypto revolution.

    Apr. 24: ApeCoin (APE), the new crypto asset dedicated to the Bored Ape Yacht Club community, tapped an all-time high, and the crypto asset is now the 32nd largest in terms of market capitalization among 13,691 cryptocurrencies. It has climbed more than 50% against the US dollar in two weeks, as Yuga Labs have extended its efforts to the emerging its own metaverse and a new staking system.

    Apr. 25: Kraken has become the first crypto exchange to be granted a license to operate a regulated digital assets platform in Abu Dhabi, as the Middle East becomes a focus for the crypto industry. The exchange will allow its users to invest, trade, and withdraw virtual assets directly in the UAE dirhams (AED).

    Apr. 26: Standard Chartered, one of the biggest banks in the UK, announced it had partnered with The Sandbox to develop a Metaverse for its banking clients and supporters. The virtual land grab will allow the bank to engage clients and fans in a creative environment.

    Apr. 27: Brazil, the largest South American country, is joining the first movers to regulate cryptocurrencies. The Brazillian senate has passed a bill to regulate cryptocurrencies in the country. The bill yet must first be passed by the Chamber of Deputies before President Jair Bolsonaro signs it into law.

    Apr. 28: Goldman Sachs offered its first-ever lending facility backed by Bitcoin, a significant step for a major US bank that shows an increased interest in crypto from traditional financial institutions. It allows crypto owners to receive fiat by using their crypto assets as collateral, which is the first case for Wall Street banks.

    Following El Salvador, Central African Republic has adopted Bitcoin as a legal tender, becoming the first country in Africa and only the second in the world to do so. President Touadera said the African nation is also moving forward with broad crypto adoption plans.

    Apr. 29: Panama’s National Assembly passed a bill to regulate the use and commercialization of crypto assets in the country. The bill will also make it possible for people to pay their taxes in crypto. Now, it only needs to be signed by President Laurentino Cortizo to become law.

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