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Bitcoin News
TL;DR
Israel's stock exchange to let brokers offer Bitcoin to clients
Bitcoin education program in El Salvador will launch new curriculum
Xapo Bank becomes the first bank to offer Lightning Network payments
Israel's stock exchange to let brokers offer Bitcoin to clients
The Tel Aviv Stock Exchange (TASE) has published a draft proposing to allow clients of non-banking institutions (NBMs) among its members to buy and sell Bitcoin and shitcoins.
NBMs provide brokerage, investment and advisory services, and operate as intermediaries. While they can process various transactions such as the transfer of funds, they are not permitted by law to accept direct deposits from customers or act as custodians.
“This is another step in the advancement and development of the Israeli capital market that aims to encourage innovation and competition, while mitigating the risks and protecting the customers.” said in the press release
Bitcoin education program in El Salvador will launch new curriculum
A new and improved English diploma curriculum has been introduced by El Salvador-based Bitcoin education program Mi Primer Bitcoin.
Head of curriculum for Mi Primer Bitcoin Dalia Platt explains that the “aim is to change the way people learn about Bitcoin. The goal is to make the course interactive, fun, creative, accessible and easy to understand for all, using examples that can reach and impact every corner of the world.”
Some of the topics for the new curriculum include “What is Money?,” “Navigating Scarcity in a Growing Economy,” and more.
Platt stated that the organization has seen exponential growth by educating more than 10,000 students this year, which is 25 times more than the year before.
Xapo Bank becomes the first bank to offer Lightning Network payments
Xapo Bank members can now make small purchases of up to $100 USD at any vendor that accepts Lightning payments, without high transaction fees and long blockchain confirmation waiting times. This integration will make Xapo Bank the first fully licensed private bank to offer Lightning payments.
Seamus Rocca, CEO of Xapo Bank, said in regards to the partnership, "By integrating with the hyper-efficient Lightning Network, we are the first bank in the world to streamline this process and allow our members to pay for small purchases with Bitcoin without having to convert to USD first." Rocca added that Xapo Bank offers an annual interest rate of 4.1% on US dollars and will soon be offering up to 1% on Bitcoin, to be paid out daily.
Xapo Bank members can pay via the Lightning Network by holding bitcoin in the Xapo Bank App and scanning and paying an invoice at any merchant that accepts Lightning payments.
You know what comes next: Not your keys, not your coins! If you hold Bitcoin at this or any bank it’s just an IOU! Always hold your keys in your own hand only!
Global Economic News
TL;DR
The UK Banking regulator and sector push people away from Bitcoin towards CBDCs
The Dallas FED expects a recession
Japan’s trade balance speaks for itself
China’s exports to Global South are soaring
The UK Banking regulator and sector push people away from Bitcoin towards CBDCs
The Deputy Governor for Monetary Policy, Ben Broadbent, revealed that the UK central bank’s “keenest attention” revolved around the regulatory inferences of emerging payment technologies.
“The experience of digitalization so far is that new products and services enabled by new technologies can be adopted very rapidly at scale. This obviously brings opportunities for financial institutions, businesses, for individuals. We would expect to see continued improvements, reductions in friction and cost of payment.” said Ben Broadbent, Deputy Governor for Monetary Policy
According to the central bank’s paper on the project, the digital pound will “sit alongside, not replace, cash.” Moreover, the intention of the digital pound is to “ensure that central bank money remains available and useful in an ever more digital economy.”
Dubbed “Britcoin,” UK’s digital pound, CBDC, shouldn’t be confused with crypto assets like Bitcoin, for it would be backed by central bank reserves. As far as the macro picture is concerned, 30% of nations testing a CBDC are in the development stage.
On the other hand they try to “regulate” Bitcoin and shitcoins…
The UK banking regulator — the Prudential Regulatory Authority — is set to implement new rules for holding and issuing “crypto”. The development was part of a speech given by Bank of England executive director of Prudential Policy, Vicky Sporta.
Specifically, the speech notes that the country is set to solidify its regulatory expectations for “crypto”, stablecoins, and other digital assets. Additionally, Coindesk notes that “Once the Financial Services and Markets Bill becomes law, authorities will have powers to regulate the sector.”
They’re already trying to restrict buying Bitcoin:
According to BBG, UK Banks are restricting Bitcoin. Nationwide is applying daily limits of £5,000 on debit-card purchases of Bitcoin and shitcoins, while its credit cards can no longer be used to buy them. HSBC said it barred customers from making “crypto“ purchases via its credit cards from last month.
Finally… (funny comment):
Bank of England deputy governor says central bank issued "digital pound" could give consumers a "safe place" to store value.
The Dallas FED expects a recession
A Dallas FED respondent has reportedly stated the expectation of a recession in the second half of 2023. Furthermore, speaking on layoffs already occurring, with a second wave of firings being considered.
The news arrives on the heels of the Dallas Federal Reserve releasing the results of a Texas Manufacturing Outlook Survey. Within that data, it was revealed that the states production index was down from 0.2 to -2.8 suggesting, “a modest contraction in output.”
The data shows that the new orders index was in the negative for the ninth month in a row, moving down nine points. Additionally, growth rate orders and capacity utilization also fell, both maintaining the negative. Specifically reading, “Perceptions of broader business conditions worsened in February as pessimism increased.”
“This chart should terrify you. We're in the early stages of a debt driven exponential inflation curve. The Dollar Endgame.” by Peruvian Bull, Senior Analyst
“Last 30 years...spring 2019 triangle breakout...CV 2020 back test...and confirmed breakout. Wild stuff.” by @Silverbark3
Japan’s trade balance speaks for itself
“This chart is dedicated to all those in the Euro zone celebrating the end of the energy shock. This is Japan's trade balance every January from 2000 to 2023. The January 2023 deficit is a close second to January 2014 for the worst trade deficit EVER. This energy shock isn't over.” by Robin Brooks, Economist at IIF
China’s exports to Global South are soaring
“China's exports to the Global South up 2x in 3 years. Digital and other infrastructure lead. China isn't contesting the US-centric order. It's building another world order of its own.” by David P. Goldman, Spengler columnist for Asia Times and PJ Media
Bitcoin price speculations
These are just speculations, no investment advice!
Bitcoin Shorts
Funny Bitcoin short stories
Bitcoin on this date:
Bitcoin hardware company Trezor now controls its silicon chip supply chain! (article)
78% of the circulating supply is in long-term holder hands.
When Bitcoin captures even ONE percent (1%) of this $900T, it will be a $9T market cap, which results in a ~$429,000 bitcoin and... it's going to capture a lot more than 1% lol
5% = $2.1M / BTC
10% = $4.3M / BTC“This hearing is amazing. A former legislature just came up and said he is a Bitcoin maximalist and that he supports the pro-btc policy.” by Dennis Porter
New record Bitcoin hashrate 360,000,000,000,000,000,000x computations every second
Blackhawk, one of the world’s largest payment providers, will offer Bitcoin gift cards at US retailers
Currency Crisis in Nigeria is fuelling Bitcoin adoption - Forbes
Jack Dorsey's Block: "We're building a self-custody Bitcoin wallet to empower the next 100 million people to truly own and manage their money” and said it will be using its own Bitcoin reserves to provide liquidity to Bitcoin’s Lightning network, a protocol for sending money instantly.
Buying eggs in Costa Rica with Bitcoin (video)
Dubai announced a new legal framework for Bitcoin & shitcoin operators in ambitious plan to become global hub
Spain has the most number of properties for sale accepting Bitcoin or shitcoins - Forex Suggest
The monetary policy of Bitcoin
Bitcoin Lightning payment in the Philippines (video)
Buying a coffee with Bitcoin in Gibraltar (video)
El Salvador President: "We've seen benefits from adopting Bitcoin"
"Tourism has increased 95% and we're getting a lot of private investments”
Suggestions
Interesting articles to read
If you like my work, here you can send me some sats:
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Sources:
https://snort.social/e/note1a5uwegz83eyvsfupvztzem9hxhqkdcpx5zgwh7w4s4gv63fyttaqqn4afd
https://snort.social/e/note1lxwnkqpmk4ehe7fh00az6xvac4nat4ct9f958ak5xf3refcyx2ssxletmu
https://news.bitcoin.com/tel-aviv-stock-exchange-takes-steps-to-allow-crypto-trading/
https://watcher.guru/news/bank-of-england-official-pound-cbdc-presents-a-big-opportunity
https://snort.social/e/note1wfhzkzfy2lplsltpt0lqz0jn2rgdmkpdq9ndlvujttu0ld545svsddx3fp
https://snort.social/e/note10gjhtyxh79renv2m7vdvemyz69q4ycu3g3ucecjd9lvcp95vh4xsvxmfk8
https://www.btctimes.com/news/bitcoin-education-program-in-el-salvador-will-launch-new-curriculum
https://bitcoinmagazine.com/business/xapo-bank-first-bank-to-offer-bitcoin-lightning
https://watcher.guru/news/dallas-fed-respondent-expects-a-recession-in-the-second-half-of-2023