16 July

“Lawyers and developers working in decentralized finance (DeFi) are asking for a new limited liability legal entity in Australia that would represent decentralized autonomous organizations (DAOs). Such a move would give legal standing to the blockchain-based organizations, enabling DAOs to contract with other legal persons.

For the purposes of corporate governance, boards of directors would be replaced with internet communities. Having a limited liability structure would prevent every member from ‘being potentially liable for losses incurred by decisions made by a member of the community.’

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PayPal has raised cryptocurrency limits for its U.S. customers to $100,000 per week without an annual purchase limit.

The change will enable our customers to have more choice and flexibility in purchasing cryptocurrency on our platform.”

“The Lightning Network recorded its quickest 100 bitcoin capacity growth ever at only five days. This month alone, the network capacity has increased 20% to 1,821.29 BTC locked in across more than 56,000 channels.

This growth can be attributed, in part, to the recent news of bitcoin’s adoption in El Salvador as legal tender.With onchain fees going up with bitcoin appreciation cycle, it’s becoming an imperative to use Lightning as a low cost alternative to transfer smaller amounts of bitcoin.’ This use case is now being put to the test in areas like Bitcoin Beach and across El Salvador.

Another factor that could be motivating some users is the ability to earn yield from contributing liquidity to the network. Lightning Lab’s liquidity marketplace, Lightning Pool, launched in 2020, allows users to lease liquidity on payment channels.”

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“Payments services company Square will create a new business focused on creating an “open developer platform” to make it easier to provide non-custodial, decentralized financial services.

Dorsey tweeted that the still-be-named division’s “primary focus” would be Bitcoin.”

The U.K. Financial Conduct Authority (FCA) is launching an £11 million (US$15 million) marketing campaign to warn young people of the risks in investing in crypto.

Citing recent research that found almost 2.5 million Britons hold cryptoassets, Rathi highlighted the FCA’s concern that crypto holders are more likely to be younger and behave ‘less rationally and more emotionally, egged on by anonymous and unaccountable social media influencers.'”

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