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FameEX Afternoon Crypto News Recap | March 15, 2023

2023-03-15 17:14:45

Challenges in Doing Business in the US Expected Due to Crypto Bank Closures
The collapse of major banks linked to the crypto industry has caused significant consequences, leading to a de-banking crisis and an uncertain future for the industry. However, despite these challenges, the crypto industry remains optimistic and views this as a chance to build more robust and resilient financial institutions.

ECB Emphasizes Benefits of Digital Euro as a Flexible Payment Solution
The European Central Bank (ECB) has introduced the digital euro as a payment solution that can be used at any time and for any purpose. This payment method is currently being developed and aims to offer a secure and efficient way to make payments, with fast processing and minimal transaction fees. According to the ECB, the digital euro will be available to everyone and will complement other existing payment options like cash and cards.

Incoming President of Nigeria Vows to Promote Blockchain for Banking and Revenue Collection

Despite Nigeria being Africa's biggest digital asset market and a global leader in Bitcoin adoption, the government has implemented strict regulations to slow down its adoption. However, with the incoming president's commitment to promoting the adoption of blockchain technology and digital assets, there's a possibility of a change in the government's stance. This shift could potentially lead to increased usage of digital assets and blockchain technology in Nigeria, driving innovation and economic growth in the country.

Review of Money's Evolution and Its Influence on Digital Currencies Conducted by Payment Association
The Payments Association in the UK has published a report that details seven significant conclusions regarding the future of digital currencies. The report emphasizes the increasing regulation of digital currencies and their growing use in businesses. It also notes the diminishing distinction between traditional currencies and digital currencies. The main aim of the report is to offer guidance for the ongoing discussions about digital currencies in the UK and foster innovation and collaboration within the payments industry.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.

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