POKKET Weekly News: The Week In Crypto (20–26 Jul)

Volatility is starting to come back to the crypto market. Bitcoin price tried $10,000 levels, rising as much as 9% from $9,200 levels at the start of the week. Ethereum price however, rose 33% to $310 levels this week on the back of the DeFi theme, which is also leading to highest Ethereum network fees in 2 years.

In other news, Apple co-founder Steve Wozniak and 17 other fraud victims sued YouTube and Google for allowing, promoting, and profiting from bitcoin giveaway scams. On the other hand, some crypto companies are also taking Google, Facebook, and Twitter to court for banning crypto ads since Jan 2018.

While you’re at it, check out our interest rates including our top 10 earning tokens below.

Here are this week’s highlights

Visa, Mastercard And PayPal Are Changing Their Tune On Bitcoin And Crypto

Now, with the likes of social media giant Facebook and Wall Street stalwarts including JPMorgan JPM -0.7% embracing cryptocurrencies, Visa, Mastercard and PayPal are gearing up to drive the next wave of bitcoin and crypto development and adoption….

Banks in US Can Now Offer Crypto Custody Services, Regulator Says

The Office of the Comptroller of the Currency (OCC) is letting all nationally chartered banks in the U.S. provide custody services for cryptocurrencies. In a public letter dated July 22, Senior Deputy Comptroller and Senior Counsel Jonathan Gould wrote that any national bank can hold onto the unique cryptographic keys for a cryptocurrency wallet, clearing the way for national banks to hold digital assets for their clients…

Coinbase Processed $500,000 in Bitcoin Payments That Helped Ex-Nissan Chairman Flee Japan

Coinbase processed $500,000 in bitcoin payments that aided the dramatic escape of former Nissan Motor Co. chairman Carlos Ghosn from Japan, according to Bloomberg. According to a court filing, the money was allegedly sent via the U.S. crypto exchange over a four-month period by Ghosn’s son, Anthony, to an accomplice named Peter Taylor. In total, Taylor pocketed $1.36 million…

Russia updates crypto law, prohibits buying goods with Bitcoin

Russia has updated its crypto law. It’s not as strict as proposed earlier drafts but has rendered currencies like Bitcoin basically useless. The bill gives legal status to cryptocurrencies — but says they cannot be used to pay for goods and services…

Japanese Central Bank Creates Digital Currency Unit — Led by Satoshi!

The central Bank of Japan (BoJ) has created a “Digital Currency Unit” as the nation heads toward a tentative central bank digital currency (CBDC) launch — and it’s being headed by a man named Satoshi. Per Reuters Japan, the BoJ has officially opened a specialized team devoted to Digital Currency-related matters. Although the BoJ is yet to outline exactly what the team will be charged with handling, its establishment coincides with a flurry of CBDC-related activity in recent days, indicating that a digital yen could launch sooner rather than later…

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