11 March

There is now more than $25 billion betting on Ethereum’s most-anticipated upgrade.

These deposits, which are parceled into batches of 32 ETH at a time, are validators on the Ethereum Beacon Chain. Users appear to be more bullish than ever on the launch of Ethereum’s upcoming transition.”

An on-chain oracle and a public API aim to help decentralized projects better track crypto wallets and ensure regulatory compliance. The company says that these tools will be provided to cryptocurrency market participants for free.

As countries around the world continue to leverage economic sanctions in response to Russia’s invasion of Ukraine, decentralized Web3 groups like DEXs, DeFi platforms, DAOs, and dapp developers are searching for lightweight tools to help them and their customers comply with sanctions policies.

Now is the time for the industry to demonstrate that blockchains’ inherent transparency make cryptocurrency a powerful deterrent to sanctions evasion.”

Bitcoin was little changed after the Consumer Price Index (CPI) report, which closely matched economists’ expectations.

The Consumer Price Index rose 7.9% over the past 12 months, the fastest since 1982. On a monthly basis, the CPI rose 0.8% in February, faster than the 0.6% increase reported for January. So-called core inflation, which excludes volatile food and energy prices, rose 0.5% in February, slower than analysts’ expectations.

Bitcoin remains locked into the risk trade and will continue to trade off incremental updates from Ukraine.”

Today, the global payments giant launched its crypto services, offering businesses the ability to use Stripe as a payment method for crypto and NFT transactions. Stripe is offering payout services for Web3 companies as well as know-your-customer (KYC) and fraud prevention.

To facilitate its Web3 services, Stripe announced that it has deals in place with FTX, FTX U.S., Nifty Gateway, Just Mining, and Blockchain.com.”

See Also: FTX Picks Stripe to Build Payments and Risk Mitigation Feature
See Also: EBay Teases ‘Digital Wallet’ in Investor Presentation as Crypto Rumors Swirl

“U.S. President Joe Biden called for an urgent, government-wide focus to be placed on the research and development of a potential central bank digital currency (CBDC) in his executive order signed Wednesday. The order suggests that Biden – who noted that “over 100 countries are exploring or piloting” CBDCs – does not want the U.S. to get left behind.

The order calls for a full-scale assessment of the potential benefits and risks of a CBDC, both for consumers and investors as well as the broader U.S. financial system. Biden has ordered the Treasury Department to spearhead the research and report, with input from other federal agencies.

The executive order catalyzes the important work to pilot, test and advance the development of a CBDC.

There are several organizations already researching and piloting CBDCs in the United States, including the Boston Fed, which has partnered with Massachusetts Institute of Technology (MIT) on CBDC technology, and the Digital Dollar Project.”

See Also: CBDCs will not impact private stablecoin market, says Tether CTO

“Nine Republican U.S. Senators have introduced a bill aimed at setting regulations and guidelines concerning China’s digital yuan.

If left unchecked, technologies including China’s Digital Yuan will empower Russia to evade global sanctions on systems such as SWIFT and enable the CCP to further surveil and threaten their citizens. This bill holds China accountable as they introduce their new digital currency.

The Say No to the Silk Road Act would – among other things – require the State Department to issue a warning on the digital yuan, require the Secretary of Commerce to report on trade enforcement actions.