Daily digest for Crypto Kenya, on May 6, 2023

posted: "The ban is intended to reduce Argentina's payment-system exposure to digital assets, said the monetary authority. The ban is intended to reduce Argentina's payment-system exposure to digital assets, said the monetary authority. Cointelegraph.com New" Crypto Kenya Argentina's central bank halts cryptocurrencies from payment apps May 6 The ban is intended to reduce Argentina's payment-system exposure to digital assets, said the monetary authority. The ban is intended to reduce Argentina's payment-system exposure to digital assets, said the monetary authority. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/argentinas-central-bank-halts-cryptocurrencies-from-payment-apps/

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posted: "Certain Celsius users, largely those who only ever held funds in custody accounts, had previously been limited to withdrawing up to 94% of their funds. Certain Celsius users, largely those who only ever held funds in custody accounts, had previously be" Crypto Kenya Eligible Celsius users can withdraw all 'Distributable Custody Assets' following court approval May 6 Certain Celsius users, largely those who only ever held funds in custody accounts, had previously been limited to withdrawing up to 94% of their funds. Certain Celsius users, largely those who only ever held funds in custody accounts, had previously been limited to withdrawing up to 94% of their funds. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/eligible-celsius-users-can-withdraw-all-distributable-custody-assets-following-court-approval/

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posted: " Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning "credit tightening" more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indi" Crypto Kenya US Banking Crisis Looms as 'Credit Tightening' Mentions Reach Record Highs on Company Calls May 6 Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning "credit tightening" more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest that the U.S. economy is experiencing a period of instability and uncertainty, prompting concerns among market observers. 'Credit Tightening' Mentions on Company Calls Highlight Concerns Over the Stability of the U.S. Banking Industry The U.S. economy is struggling with a trifecta of challenges: soaring inflation, steep interest rates, and a banking industry in disarray. Since Silvergate Bank's announcement on March 8, 2023, that it would cease operations and liquidate its assets, the country has witnessed a string of significant bank failures. Silicon Valley Bank, Signature Bank, and First Republic Bank have all followed suit, marking the second, third, and fourth largest bank failures in U.S. history. A report published on May 4, 2023, sheds light on the banking sector's ongoing issues. According to the research, executives are increasingly using the term "credit tightening" during their earning calls. The report cites Bloomberg data, which reveals that the frequency of "credit tightening" mentions on company calls has surpassed the levels seen during the 2008 financial crisis. This trend is alarming for the banking industry, as it suggests that executives are struggling to manage credit risk and maintain profitability. The banking industry is showing signs of caution, as evidenced by the increasing mentions of "credit tightening" on company calls. This trend is concerning, as it often leads to a negative impact on the economy. When banks become more cautious about lending money, it becomes harder for market participants to obtain credit, which can slow down economic growth. In addition to this, the report also notes that news stories alluding to "credit tightening" have reached record highs. Google Trends Shows an Uptick of Searches Related to 'Bank Failure,' 'Bank Crisis,' and 'Credit Tightening' On March 19, 2023, Bitcoin.com reported that Google Trends data revealed a trend in search queries related to the banking industry. Searches for terms like "banking crisis" and "bank runs" had skyrocketed at the time. Current 30-day statistics show that the search query "bank crisis" reached a score of 89 out of 100 on April 6, and a perfect score of 100 on April 18. By the end of April, the score had dropped to 68 out of 100. Similarly, the search query "bank failure" hit a score of 78 on April 26, and a perfect score of 100 on April 28. The topic of the banking crisis has gained significant traction in several states, including Maine, Vermont, Massachusetts, Nebraska, and Arizona. Meanwhile, the issue of bank failures has piqued the interest of people in Alaska, West Virginia, Delaware, Maine, and Montana. According to Google Trends, related topics and associated queries include the U.S. government and First Republic Bank. Similar to the report on May 4, another trending search query is "credit tightening," which reached a perfect score of 100 on April 6, and a score of 62 on April 21. This topic is particularly popular in California, Florida, and New York. What do you think the surge in "credit tightening" mentions on company calls and the increase in search queries related to bank failures and crises mean for the future of the banking industry and the U.S. economy as a whole? Share your thoughts in the comments section below. Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning "credit tightening" more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest that the U.S. economy is Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/us-banking-crisis-looms-as-credit-tightening-mentions-reach-record-highs-on-company-calls/

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posted: "April was a month of hacks, exploits and rug pulls, resulting in over $100 million in net losses across DeFi platforms. April was a month of hacks, exploits and rug pulls, resulting in over $100 million in net losses across DeFi platforms. Cointelegr" Crypto Kenya Liquid staking solutions now have more TVL than DEXs: Finance Redefined May 6 April was a month of hacks, exploits and rug pulls, resulting in over $100 million in net losses across DeFi platforms. April was a month of hacks, exploits and rug pulls, resulting in over $100 million in net losses across DeFi platforms. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/liquid-staking-solutions-now-have-more-tvl-than-dexs-finance-redefined/

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posted: "This week's Crypto Biz explores the latest wild wager on Bitcoin prices, inflation fears and the jobs that artificial intelligence may soon replace. This week's Crypto Biz explores the latest wild wager on Bitcoin prices, inflation fears and the jobs t" Crypto Kenya Crypto Biz: Hyperinflation and Bitcoin wagers, AI replacing first jobs and more May 6 This week's Crypto Biz explores the latest wild wager on Bitcoin prices, inflation fears and the jobs that artificial intelligence may soon replace. This week's Crypto Biz explores the latest wild wager on Bitcoin prices, inflation fears and the jobs that artificial intelligence may soon replace. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/crypto-biz-hyperinflation-and-bitcoin-wagers-ai-replacing-first-jobs-and-more/

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posted: "The Apple CEO said the company would "continue weaving" AI into its products as internal research indicates an emphasis on building unbiased AI systems. The Apple CEO said the company would "continue weaving" AI into its products as internal research i" Crypto Kenya Tim Cook says Apple will weave AI into products as researchers work on solving bias May 5 The Apple CEO said the company would "continue weaving" AI into its products as internal research indicates an emphasis on building unbiased AI systems. The Apple CEO said the company would "continue weaving" AI into its products as internal research indicates an emphasis on building unbiased AI systems. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/tim-cook-says-apple-will-weave-ai-into-products-as-researchers-work-on-solving-bias/

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posted: "Art generated by artificial intelligence is making waves because of its ramifications — for originality, authorship, and authenticity. Art generated by artificial intelligence is making waves because of its ramifications — for originality, authorship, " Crypto Kenya Artists face a choice with AI: Adapt or become obsolete May 5 Art generated by artificial intelligence is making waves because of its ramifications — for originality, authorship, and authenticity. Art generated by artificial intelligence is making waves because of its ramifications — for originality, authorship, and authenticity. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/artists-face-a-choice-with-ai-adapt-or-become-obsolete/

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posted: "The U.S. presidential candidate has added anti-CBDC to his anti-establishment, anti-vaccination repertoire and has gained double-digit support among Democrats. The U.S. presidential candidate has added anti-CBDC to his anti-establishment, anti-vaccinat" Crypto Kenya RFK Jr. elaborates position on CBDC, crypto: 'It isn't just criminals who want privacy' May 5 The U.S. presidential candidate has added anti-CBDC to his anti-establishment, anti-vaccination repertoire and has gained double-digit support among Democrats. The U.S. presidential candidate has added anti-CBDC to his anti-establishment, anti-vaccination repertoire and has gained double-digit support among Democrats. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/rfk-jr-elaborates-position-on-cbdc-crypto-it-isnt-just-criminals-who-want-privacy/

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posted: " According to John Reed Stark, crypto exchange Coinbase's assertions that its business activities were endorsed by the U.S. Securities and Exchange Commission (SEC) when it approved its initial public offering are "a surefire loser." According to Stark, t" Crypto Kenya Former SEC Enforcement Chief: Coinbase's Arguments 'a Surefire Loser' and Possibly Criminal May 5 According to John Reed Stark, crypto exchange Coinbase's assertions that its business activities were endorsed by the U.S. Securities and Exchange Commission (SEC) when it approved its initial public offering are "a surefire loser." According to Stark, the SEC's approval of Coinbase's registration statement was done to ensure the latter had made "proper disclosures in their application." SEC Not Constrained by Any Doctrine John Reed Stark, a former chief of the U.S. Securities and Exchange Commission (SEC) Office of Internet Enforcement, has said the arguments that Coinbase's business activities were endorsed by the commission when it approved its initial public offering (IPO) are "a surefire loser." Stark also said the assertion that Coinbase has "some sort of regulatory safe harbor" and that the SEC is constrained by some sort of doctrine "has no basis in law or in fact." The remarks by Stark came just days after Coinbase chose to publicly disclose its response to the Wells notice it received from the SEC back in March. As reported by Bitcoin.com News, Coinbase made clear its opposition to the SEC's enforcement actions. Coinbase also implied in its response that the SEC had in fact greenlighted its core business when it allowed the IPO to proceed. The company went public in April, 2021. Some argue that when the SEC approved Coinbase's IPO, the SEC also approved Coinbase's business. What a crock and possibly a criminal offense. Yes, you read that correctly — a criminal offense. Having served as Chief of the SEC Office of Internet Enforcement for 11 years, IMHO,… pic.twitter.com/aIQXgCRVNb — John Reed Stark (@JohnReedStark) May 1, 2023 However, in his May 1 Twitter thread, Stark, who worked for eleven years as an SEC chief, assailed the assertion that the commission's approval of Coinbase's registration statement amounted to an endorsement of the crypto exchange's activities. According to Stark, the SEC's approval of Coinbase's registration statement was done to ensure the latter had made "proper disclosures in their application." 'No Approval Clause' To further support this argument, Stark pointed to regulations which compel companies seeking to raise funds from the public to insert a "No Approval Clause" in their respective prospectuses. The intention of this clause is to inform prospective investors that regulators that include the SEC have neither approved nor disapproved securities being offered. The former SEC enforcement chief also shared more links which seemingly support the argument that the Commission is not being constrained by some "sort of regulatory estoppel." Meanwhile, Stark also suggested in his tweet that Coinbase's own Form S1 Registration Statement under the Securities Act of 1933 proved that the crypto exchange was aware that its business activities had the potential to cause problems. He said: Finally, Coinbase's Form S1 Registration Statement under the Securities Act of 1933, the form that Coinbase filled out to become a public company and the form that the SEC reviewed, disclosed that there is regulatory uncertainty regarding the status of their activities and that Coinbase could be subject to a litany of civil, criminal, and administrative fines, penalties, orders and actions (which is exactly what is happening right now). Stark ended the long tweet by reiterating that the "no approval clause" was a sufficient warning to Coinbase executives who may face potential jail time should the crypto exchange lose its fight against the SEC. What are your thoughts on this story? Let us know what you think in the comments section below. According to John Reed Stark, crypto exchange Coinbase's assertions that its business activities were endorsed by the U.S. Securities and Exchange Commission (SEC) when it approved its initial public offering are "a surefire loser." According to Stark, the SEC's approval of Coinbase's registration statement was done to ensure the latter had made "proper disclosures in Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/former-sec-enforcement-chief-coinbases-arguments-a-surefire-loser-and-possibly-criminal/

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posted: "The partnership will enable BNP Paribas China's corporate clients to make payments using the digital yuan through an e-CNY management system. The partnership will enable BNP Paribas China's corporate clients to make payments using the digital yuan thro" Crypto Kenya BNP Paribas teams up with Bank of China to promote digital yuan usage May 5 The partnership will enable BNP Paribas China's corporate clients to make payments using the digital yuan through an e-CNY management system. The partnership will enable BNP Paribas China's corporate clients to make payments using the digital yuan through an e-CNY management system. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/bnp-paribas-teams-up-with-bank-of-china-to-promote-digital-yuan-usage/

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posted: "Cointelegraph analyst and writer Marcel Pechman explains how PacWest's plummeting share price and the continued banking crisis could impact Bitcoin. Cointelegraph analyst and writer Marcel Pechman explains how PacWest's plummeting share price and the c" Crypto Kenya PacWest Bank plummets 50%! How will Bitcoin react? May 5 Cointelegraph analyst and writer Marcel Pechman explains how PacWest's plummeting share price and the continued banking crisis could impact Bitcoin. Cointelegraph analyst and writer Marcel Pechman explains how PacWest's plummeting share price and the continued banking crisis could impact Bitcoin. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/pacwest-bank-plummets-50-how-will-bitcoin-react/

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posted: "The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities. The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he " Crypto Kenya Prosecutor says Do Kwon's extradition to South Korea would best serve Terraform Labs' victims: Report May 5 The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities. The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/prosecutor-says-do-kwons-extradition-to-south-korea-would-best-serve-terraform-labs-victims-report/

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posted: " The crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital action fig" Crypto Kenya Cryptoys Unveils Star Wars Digital Toys in New Line of Collectibles May 5 The crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital action figures will be available to collect in total, and the initial Star Wars non-fungible token (NFT) drop will begin on May 24. Cryptoys to Drop Star Wars Digital Collectibles at the End of May On May 4, 2023, Cryptoys, the digital collectible platform crafted by the Miami startup Onchain Studios, announced a new line of Star Wars collectible digital toys. The company recently partnered with Disney to bring the latest collection featuring classic Star Wars characters like Darth Vader, Luke Skywalker, and Princess Leia. The announcement notes that the digital action figures will be "paired with powerful weapons" and come in different rarity levels. Disney has been exploring the non-fungible token (NFT) industry for some time. In 2021, the entertainment giant collaborated with the digital collectibles firm Veve on several Disney and Marvel-themed collections. In July 2022, the blockchain firm Polygon was selected to participate in Disney's 2022 Accelerator Program. In January 2022, the company moved toward the Metaverse industry when it was approved by the United States Patent and Trademark Office (USPTO) for a patent to create a "virtual-world simulator." As for the platform Cryptoys, it is backed by well-known investors such as Andreessen Horowitz (a16z), Mattel, Sound Ventures, Dapper Labs, Animoca Brands, and Acrew Capital. Cryptoys recently worked with Mattel to release a Masters of the Universe NFT collection. The platform uses the blockchain network Flow, a protocol crafted by Dapper Labs that issues popular NFT compilations like NFL All Day and NBA Top Shot. "The moment fans unwrap their blister packs, they will see these characters animate before their eyes, transforming into spectacular 3D toys with big personalities," Cryptoys said in an email sent to Bitcoin.com News. The new Star Wars digital collectibles will be priced at $39.99 each, and the team claims that "the unboxing experience is unlike any other in the digital toy space." Over the last 90 days, NFTs have seen a resurgence in interest, with the term "NFT" scoring the highest possible score of 100 on April 30, 2023, in terms of search interest on Google Trends. Data from Google Trends indicates that the search query "digital collectible" received significantly less engagement but still received a score of 21 out of 100 on April 29, 2023. According to metrics from cryptoslam.io, NFT sales totaled $672,161,665 in April, down from the $793,745,613 recorded the previous month. What do you think about the new Star Wars digital collectibles from Cryptoys? Let us know in the comments section below. The crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital action figures will be available to collect in total, and the initial Star Wars non-fungible token (NFT) drop will begin Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/cryptoys-unveils-star-wars-digital-toys-in-new-line-of-collectibles/

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posted: "Discover how AI talent marketplaces are transforming the job market and disrupting traditional employment models. Discover how AI talent marketplaces are transforming the job market and disrupting traditional employment models. Cointelegraph.com New" Crypto Kenya Will AI talent marketplaces replace traditional employment models? May 5 Discover how AI talent marketplaces are transforming the job market and disrupting traditional employment models. Discover how AI talent marketplaces are transforming the job market and disrupting traditional employment models. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/will-ai-talent-marketplaces-replace-traditional-employment-models/

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posted: "Ether has broken out of its triangle and that may pull Bitcoin price above $30,000. Ether has broken out of its triangle and that may pull Bitcoin price above $30,000. Cointelegraph.com NewsRead More" Crypto Kenya Price analysis 5/5: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC May 5 Ether has broken out of its triangle and that may pull Bitcoin price above $30,000. Ether has broken out of its triangle and that may pull Bitcoin price above $30,000. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/price-analysis-5-5-btc-eth-bnb-xrp-ada-doge-matic-sol-dot-ltc/

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posted: "The FCA's actions followed similar operations in East London and Leeds, where the regulator said it had issued warnings or cease-and-desist requests to suspected ATM operators. The FCA's actions followed similar operations in East London and Leeds, whe" Crypto Kenya UK financial watchdog announces inspections against sites with suspected illegal crypto ATMs May 5 The FCA's actions followed similar operations in East London and Leeds, where the regulator said it had issued warnings or cease-and-desist requests to suspected ATM operators. The FCA's actions followed similar operations in East London and Leeds, where the regulator said it had issued warnings or cease-and-desist requests to suspected ATM operators. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/uk-financial-watchdog-announces-inspections-against-sites-with-suspected-illegal-crypto-atms/

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posted: "Under a bill proposed by New York Attorney General Letitia James, crypto exchanges could be required to reimburse users who were the victims of fraud. Under a bill proposed by New York Attorney General Letitia James, crypto exchanges could be required " Crypto Kenya New York AG's office seeks additional authority over crypto firms May 5 Under a bill proposed by New York Attorney General Letitia James, crypto exchanges could be required to reimburse users who were the victims of fraud. Under a bill proposed by New York Attorney General Letitia James, crypto exchanges could be required to reimburse users who were the victims of fraud. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/new-york-ags-office-seeks-additional-authority-over-crypto-firms/

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posted: "The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community. The tax is intended to reduce greenhouse gas emissions, electricity costs and local e" Crypto Kenya Will Biden's plan to tax crypto mining reduce emissions? Critics say no May 5 The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community. The tax is intended to reduce greenhouse gas emissions, electricity costs and local environmental pollution, but has not been kindly received by the crypto community. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/will-bidens-plan-to-tax-crypto-mining-reduce-emissions-critics-say-no/

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posted: "AI can analyze data for accurate risk assessment, reduce bias, automate tasks and personalize the lending experience for improved credit scoring. AI can analyze data for accurate risk assessment, reduce bias, automate tasks and personalize the lending " Crypto Kenya How can AI be used to improve credit scoring? May 5 AI can analyze data for accurate risk assessment, reduce bias, automate tasks and personalize the lending experience for improved credit scoring. AI can analyze data for accurate risk assessment, reduce bias, automate tasks and personalize the lending experience for improved credit scoring. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/how-can-ai-be-used-to-improve-credit-scoring/

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posted: " As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against the U." Crypto Kenya Meme Coin PEPE's Market Cap Surpasses $1B with 896% Surge Over the Past Week May 5 As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against the U.S. dollar, making it the third-largest meme token in terms of market valuation. Amid the price spike, PEPE's market cap now exceeds the $1 billion mark. Green Frog Crypto Asset PEPE Makes Waves in Meme Economy Dominated by Dogs Dogecoin (DOGE) and shiba inu (SHIB) have a new challenger in the meme token arena, as Pepe the Frog meme coin, pepe (PEPE), has emerged as a formidable competitor. With an impressive surge of 896% over the past week, PEPE has now become the third-largest meme token, trailing only DOGE and SHIB. In the last 24 hours alone, the token has seen a remarkable increase of over 79%. Bitcoin.com News had previously reported on PEPE's initial rise when it was launched on April 14, 2023. PEPE has come a long way since its all-time low of $0.00000005514 per unit on April 18, recording a spike of 5,102%. Currently, the meme token is being traded at prices ranging from $0.00000152 to $0.00000302 over the last 24 hours. With a circulating supply of 420 trillion PEPE, the token has amassed a global 24-hour trade volume of $818 million. On Friday, PEPE ranked sixth in terms of trade volume, trailing only tether, bitcoin, ethereum, usd coin, and binance usd. PEPE has been making waves on various exchanges, including Binance and Okx, but it is Uniswap v2 that has emerged as the most active PEPE exchange today. The token's global trade volume has also surged by 205.80% since the day prior. With almost 100K holders, PEPE has garnered a lot more holders, as the number of addresses holding the token on Friday was 90,683. However, the top ten addresses control a significant portion of PEPE's supply, accounting for 20.31%. In fact, the top 100 richest PEPE addresses hold close to half of the token's supply, which amounts to 42.62%. PEPE recently surpassed FLOKI, which was once the third-largest meme coin by market cap. Although FLOKI is still up by 57% over the last day and 44% over the past week, it has been overshadowed by PEPE's impressive surge. Interestingly, several other crypto tokens that bear the name Pepe are also experiencing significant gains on Friday. In a meme economy that is largely dominated by dogs, the green frog crypto asset has certainly made its mark in meme-coin land. What do you think the future holds for PEPE and other meme tokens in the ever-evolving world of cryptocurrency? Share your thoughts in the comments section below. As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against the U.S. dollar, making it the third-largest meme token in terms of market valuation. Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/meme-coin-pepes-market-cap-surpasses-1b-with-896-surge-over-the-past-week/

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posted: "What people need to realize is that the technology of blockchain, and the shenanigans that some people pull, are two totally different things. What people need to realize is that the technology of blockchain, and the shenanigans that some people pull, " Crypto Kenya Should crypto be rebranded? May 5 What people need to realize is that the technology of blockchain, and the shenanigans that some people pull, are two totally different things. What people need to realize is that the technology of blockchain, and the shenanigans that some people pull, are two totally different things. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/should-crypto-be-rebranded/

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posted: "Crypto developments in Hong Kong do not mean China has softened or will soften its approach to regulating Bitcoin. Crypto developments in Hong Kong do not mean China has softened or will soften its approach to regulating Bitcoin. Cointelegraph.com Ne" Crypto Kenya China's crypto stance unchanged by moves in Hong Kong, says exec May 5 Crypto developments in Hong Kong do not mean China has softened or will soften its approach to regulating Bitcoin. Crypto developments in Hong Kong do not mean China has softened or will soften its approach to regulating Bitcoin. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/chinas-crypto-stance-unchanged-by-moves-in-hong-kong-says-exec/

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posted: "A look inside the AI black box problem: confronting the trust dilemma and unearthing strategies for transparent AI. A look inside the AI black box problem: confronting the trust dilemma and unearthing strategies for transparent AI. Cointelegraph.com" Crypto Kenya AI's black box problem: Challenges and solutions for a transparent future May 5 A look inside the AI black box problem: confronting the trust dilemma and unearthing strategies for transparent AI. A look inside the AI black box problem: confronting the trust dilemma and unearthing strategies for transparent AI. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/ais-black-box-problem-challenges-and-solutions-for-a-transparent-future/

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posted: "Dr. Stephen Castell commented that emerging technologies like blockchain, the metaverse and AI will usher in a new set of ethics and human species. Dr. Stephen Castell commented that emerging technologies like blockchain, the metaverse and AI will ushe" Crypto Kenya Emerging tech to create "new ethics" for humankind: MEWS 2023 May 5 Dr. Stephen Castell commented that emerging technologies like blockchain, the metaverse and AI will usher in a new set of ethics and human species. Dr. Stephen Castell commented that emerging technologies like blockchain, the metaverse and AI will usher in a new set of ethics and human species. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/emerging-tech-to-create-new-ethics-for-humankind-mews-2023/

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posted: " A buzz has been generated around a new layer one (L1) proof-of-stake blockchain initiative named Sui, following the network's mainnet debut on May 3, 2023. The native token SUI has been listed on various cryptocurrency exchanges, drawing attention to the" Crypto Kenya VC Darling Crypto Sui Makes Waves With Market Debut, Price Sinks 37% From All-Time High May 5 A buzz has been generated around a new layer one (L1) proof-of-stake blockchain initiative named Sui, following the network's mainnet debut on May 3, 2023. The native token SUI has been listed on various cryptocurrency exchanges, drawing attention to the project. On the same day the network launched, SUI peaked at $2.16 per unit, but has since dropped by 37% from its record high. Mysten Labs Launches Sui Mainnet, Draws Attention with Delegated PoS Blockchain and Move Programming Language As established cryptocurrencies continue to compete for dominance, a fresh wave of digital assets has emerged in the crypto sphere. Among them is SUI, a new digital currency whose network went live on Wednesday. The founders of SUI hail from Mysten Labs, and like Aptos, its founders stem from Facebook's crypto project. SUI operates on a delegated proof-of-stake (dPoS) blockchain, utilizing the Move programming language. At present, there are 528,273,718 SUI in circulation, with a maximum supply of 10,000,000,000 slated for the future. Presently, the network has 2,122 nodes and 100 total validators. Validation is provided via a Byzantine Consistent Broadcast. "Sui is a distributed ledger that stores a collection of programmable objects, each with a globally unique ID," explains the Sui network documentation. "Every object is owned by a single address, and each address can own an arbitrary number of objects. The ledger is updated via a transaction sent by a particular address. A transaction can create, destroy, and write objects, as well as transfer them to other addresses." Before and after the mainnet launch, the project encountered backlash when a few early adopters were left out of the early adopter token allocation. Arthur0x, the founder of Defiance Capital, commented on the situation, saying, "People ask why [venture capitalists] keep funding new pre-mainnet Layer 1 protocols at billion dollar valuation but as long as hyped L1 can keep getting away by launching at $10b+ FDV even amidst a challenging market this trend will continue." Arthur0x went on by stating: Almost all founders of hyped L1 in past cycles are billionaires now despite little real traction achieved in their blockchain. Upon its market debut, SUI surged to an all-time high of $2.16 per coin, but has since dropped by 37%, currently trading between $1.27 and $1.36 per unit. However, at its current price of $1.36 per unit, the crypto asset is up 16% from its all-time low. As of Friday, May 5, 2023, SUI's market valuation stands at $709 million, with $511 million in 24-hour global trade volume. Over the past 24 hours, the network has processed 2,373,134 transactions, with 239,888 unique addresses holding SUI. Out of the vast array of listed crypto assets, SUI currently ranks as the 70th largest market capitalization. What are your thoughts on the emergence of Sui in the crypto sphere? Do you think it has the potential to become a major player in the market, or will it struggle to gain traction against established cryptocurrencies? Let us know in the comments section below. A buzz has been generated around a new layer one (L1) proof-of-stake blockchain initiative named Sui, following the network's mainnet debut on May 3, 2023. The native token SUI has been listed on various cryptocurrency exchanges, drawing attention to the project. On the same day the network launched, SUI peaked at $2.16 per unit, but Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/vc-darling-crypto-sui-makes-waves-with-market-debut-price-sinks-37-from-all-time-high/

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posted: "The price of the new frog-themed memecoin has surged more than 4,000% since its inception on April 14. The price of the new frog-themed memecoin has surged more than 4,000% since its inception on April 14. Cointelegraph.com NewsRead More" Crypto Kenya PEPE memecoin hits $1 billion market cap fueled by Binance listing May 5 The price of the new frog-themed memecoin has surged more than 4,000% since its inception on April 14. The price of the new frog-themed memecoin has surged more than 4,000% since its inception on April 14. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/pepe-memecoin-hits-1-billion-market-cap-fueled-by-binance-listing/

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posted: "Memecoins are back in the headlines as PEPE booms, taking the market capitalization of speculative tokens over $20 billion. Memecoins are back in the headlines as PEPE booms, taking the market capitalization of speculative tokens over $20 billion. Co" Crypto Kenya Memecoin mania: Social relevance, speculation drives PEPE surge May 5 Memecoins are back in the headlines as PEPE booms, taking the market capitalization of speculative tokens over $20 billion. Memecoins are back in the headlines as PEPE booms, taking the market capitalization of speculative tokens over $20 billion. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/memecoin-mania-social-relevance-speculation-drives-pepe-surge/

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posted: "The circulating supply of SUI tokens will grow by nearly 15% by the end of 2023. The circulating supply of SUI tokens will grow by nearly 15% by the end of 2023. Cointelegraph.com NewsRead More" Crypto Kenya SUI price drops 70% from market debut top amid excessive supply concerns May 5 The circulating supply of SUI tokens will grow by nearly 15% by the end of 2023. The circulating supply of SUI tokens will grow by nearly 15% by the end of 2023. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/sui-price-drops-70-from-market-debut-top-amid-excessive-supply-concerns/

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posted: "BNB Chain's Victor Genin said that blockchain can improve transparency, accountability, traceability, energy efficiency, waste reduction and collaboration in the climate action space. BNB Chain's Victor Genin said that blockchain can improve transparen" Crypto Kenya How blockchains can solve greenwashing and contribute to climate action May 5 BNB Chain's Victor Genin said that blockchain can improve transparency, accountability, traceability, energy efficiency, waste reduction and collaboration in the climate action space. BNB Chain's Victor Genin said that blockchain can improve transparency, accountability, traceability, energy efficiency, waste reduction and collaboration in the climate action space. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/how-blockchains-can-solve-greenwashing-and-contribute-to-climate-action/

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posted: " PRESS RELEASE. As Bitcoin becomes an increasingly popular payment option, we can now use BTC for quick ordering and online shopping in many countries/regions. You can even buy a car with BTC in some places. None of this would be possible without Laszlo H" Crypto Kenya Exploring the Crypto World: Join the CoinEx Pizza Month for Multiple Giveaway Events May 5 PRESS RELEASE. As Bitcoin becomes an increasingly popular payment option, we can now use BTC for quick ordering and online shopping in many countries/regions. You can even buy a car with BTC in some places. None of this would be possible without Laszlo Hanyecz, a Bitcoin pioneer who bought two pizzas with 10,000 bitcoins 13 years ago. This is the first time Bitcoin has been priced. Since then, this crypto has been attached with genuine exchange value. Nearly 13 years have passed since that "pizza transaction". To commemorate the occasion, Bitcoin enthusiasts have designated May 22 as Bitcoin Pizza Day, which has evolved into a major festival celebrating the advancement of crypto. As the crypto community prepares for the 13th Pizza Day in May 2023, CoinEx has also planned a "pizza" feast with multiple giveaway events to help users review the history of crypto, experience crypto culture, and have fun during CoinEx Pizza Month! So, what events does CoinEx Pizza Month include? How to participate in those events? Let's take a look. Share Your Investment Story to Win Incredible Rewards! Date: 00:00 May 1 to 00:00 May 22, 2023 (UTC) Starting from 00:00 May 1, 2023, all CoinEx users can join the event by sharing their investment stories via CoinEx's official channels. Share your investment story on CoinEx or your experience with BTC to win mystery prizes and CET rewards! 2. CoinEx Vouchers for Grabs! Date: 00:00 May 11 to 00:00 May 22, 2023 (UTC) Event link: The event will soon be released via CoinEx's official website and official channels. Please stay tuned! During the event, all new users can visit the CoinEx website through the designated link, and complete tasks including registration, deposit, and trading to receive CoinEx Pizza Month rewards of up to 10 USDT! CoinEx offers beginner tutorials covering crypto basics such as deposit, spot trading, and crypto finance to help new users get started with its products effortlessly and enjoy easy, seamless crypto trading experiences. 3. CETer Challenge Date: 00:00 May 10 to 00:00 May 25, 2023 (UTC) During the event, all CoinEx users can sign up for the "CETer Challenge" via CoinEx's official channels. Join the event via the following simple steps: Follow CoinEx's official Twitter account (@coinexcom); Post items worth 200 CET, write down a CET-related story, or share a screenshot of your transaction completed via the [Newbie Zone] on the CoinEx website in the comment section; Additional requirement: add #CoinExpizzamonth and #CETerChallenge in your comment; Register on CoinEx here. Become a CETer to win mystery rewards! 4. Interact with CoinEx to Win Surprise Gift Packages! Date: 00:00 May 26 to 00:00 May 31, 2023 (UTC) During the event, users can interact with CoinEx's official channels and comment on #What Web3 Blockchain Applications Do You Know? to win surprise gift packages! Rules: Follow CoinEx's official account (@coinexcom); Leave your answer in the comment section of the event post to win surprise gift packages; Share the event on SNS platforms to earn additional CET rewards. Apart from all the events above, during CoinEx Pizza Month, we will also release informative content such as story posters and posters indicating the value exchange between trending cryptos and pizzas to help beginners dive into the history of crypto. Join the pizza carnival to spend an unforgettable Pizza Month on CoinEx!           This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. PRESS RELEASE. As Bitcoin becomes an increasingly popular payment option, we can now use BTC for quick ordering and online shopping in many countries/regions. You can even buy a car with BTC in some places. None of this would be possible without Laszlo Hanyecz, a Bitcoin pioneer who bought two pizzas with 10,000 bitcoins 13 Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/exploring-the-crypto-world-join-the-coinex-pizza-month-for-multiple-giveaway-events/

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posted: " Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the" Crypto Kenya Stronghold Digital Partners With Canaan Subsidiary to Boost Bitcoin Mining Capacity by 400 PH/s May 5 Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the new partnership, Stronghold Digital plans to activate 2,000 Avalon A1346 miners and 2,000 A1246 models. This will result in a total hashrate capacity of 400 petahash per second (PH/s) by the end of June. Stronghold Digital's Hosting Agreement With Canaan Subsidiary Aims to Increase Bitcoin Mining Capabilities On May 4, 2023, Stronghold Digital Mining, Inc. (Nasdaq: SDIG) announced a two-year hosting deal with Cantaloupe Digital, a subsidiary of Canaan, the manufacturer of Avalon-made ASICs. Starting May 15, Stronghold Digital will install Avalon A1246 mining rigs, each with 90 terahash per second (TH/s) of hashpower. According to the announcement, the company plans to install 2,000 Avalon A1346 miners in June. Each A1346 miner is expected to have a hashpower of 110 TH/s. Once all the miners are installed, Stronghold anticipates that its delivered hashrate capacity will increase to 3.6 exahash per second (EH/s) by June. This move puts Stronghold in line with other mining companies that are also expanding their fleets in 2023 with additional ASIC rigs. "While we have emphasized our necessary deleveraging efforts over the last ten months, we think that the most meaningful measure of our work is the capital efficiency of our mining fleet today," Greg Beard, chairman and chief executive officer of Stronghold said in a statement sent to Bitcoin.com News. According to Stronghold, the latest move will allow the company to fully utilize the capacity of its Panther Creek data center. As part of the agreement, Stronghold will receive 50% of the bitcoin (BTC) mined by the Canaan Miners. Additionally, Canaan will make payments to Stronghold equal to 55% of the net cost of power at the Panther Creek plant, calculated on a monthly basis in dollar-per-megawatt-hour terms. The Stronghold news coincides with Blocksbridge Consulting publishing research on April 29, 2023, indicating that the cost of producing Avalon miners has decreased. According to an analysis of Canaan's annual report, the cost of goods sold (COGS) for each generation of Avalon bitcoin ASICs, from the A7 to A13 series, has dropped from $50 per terahash per second (TH/s) to $12 per TH/s. Meanwhile, bitcoin miners have had a more successful year in 2023 compared to 2022. The price of bitcoin (BTC) has been higher this year, and despite five consecutive difficulty increases, miners experienced a 1.45% decrease on Thursday. What do you think about Stronghold Digital's hosting agreement deal? Share your thoughts in the comments section below. Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the new partnership, Stronghold Digital plans to activate 2,000 Avalon A1346 miners and 2,000 A1246 models. This will result in a total Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/stronghold-digital-partners-with-canaan-subsidiary-to-boost-bitcoin-mining-capacity-by-400-ph-s/

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posted: "The White House national strategy listed eight emerging technologies, focusing on building international standards and finding use cases in the economic sector. The White House national strategy listed eight emerging technologies, focusing on building " Crypto Kenya White House to build international standards for DLT May 5 The White House national strategy listed eight emerging technologies, focusing on building international standards and finding use cases in the economic sector. The White House national strategy listed eight emerging technologies, focusing on building international standards and finding use cases in the economic sector. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/white-house-to-build-international-standards-for-dlt/

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posted: "Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from all-time high levels. Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from all-time high levels" Crypto Kenya Memecoin hype drives Bitcoin transaction fees to multi-year highs May 5 Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from all-time high levels. Despite the latest spike in Bitcoin transaction fees, the current BTC transaction cost is still far from all-time high levels. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/memecoin-hype-drives-bitcoin-transaction-fees-to-multi-year-highs/

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posted: "Bitcoin bulls slowly claw back lost ground on the road to a $30,000 rematch as the U.S. banking crisis lingers. Bitcoin bulls slowly claw back lost ground on the road to a $30,000 rematch as the U.S. banking crisis lingers. Cointelegraph.com NewsRead" Crypto Kenya Bitcoin price sets new May high above $29.5K as traders eye breakout May 5 Bitcoin bulls slowly claw back lost ground on the road to a $30,000 rematch as the U.S. banking crisis lingers. Bitcoin bulls slowly claw back lost ground on the road to a $30,000 rematch as the U.S. banking crisis lingers. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/bitcoin-price-sets-new-may-high-above-29-5k-as-traders-eye-breakout/

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posted: "Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates. Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates. Cointelegraph.com N" Crypto Kenya Zimbabwe sets price to sell gold-backed digital tokens May 5 Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates. Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/zimbabwe-sets-price-to-sell-gold-backed-digital-tokens/

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posted: " The Nigerian Federal government said on May 3 it had passed what it called the "national blockchain policy." The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions " Crypto Kenya Nigeria Passes 'National Blockchain Policy,' Industry Player Says Central Bank Unlikely to Lift Crypto Ban May 5 The Nigerian Federal government said on May 3 it had passed what it called the "national blockchain policy." The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said the Central Bank of Nigeria (CBN) is unlikely to reverse its stance on privately issued digital currency. Blockchain Policy a Product of Widespread Consultations The Nigerian Federal government recently approved what Isa Pantami, the country's minister of communications and digital economy, has described as the country's "national blockchain policy." According to Pantami, the new policy is a product of widespread consultations with some 56 Nigerian institutions and personalities. Remarking on what this feat means for Nigeria's blockchain industry, Pantami, who spoke after a Federal Executive Council meeting chaired by outgoing president Muhammadu Buhari, said: With the approval of the national blockchain policy for Nigeria today, we can safely say that blockchain technology with all its components and types have been institutionalized in the country. The minister added that the country's security council and the National Information Technology Development Agency (NITDA) have been asked to jointly develop and formulate regulatory instruments for all sectors. CBN Crypto Directive Following the announcement, some players in Nigeria have speculated that the new policy signals a shift in the outgoing's government disposition towards technology that underpins cryptocurrencies. In particular, the new policy gives hope to Nigerian crypto traders and enthusiasts still reeling from the effects of the Central Bank of Nigeria (CBN)'s crypto directive. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said the new policy means the various players in the blockchain industry now have the official backing of the government. According to Uwakwe, the new policy also suggests that the technology is "here to stay." However, the Sabi Group founder told Bitcoin.com News that while the announcement is set to excite the blockchain industry participants, players in the crypto space fear that the new policy alone will not force the CBN to reverse its position on privately issued digital currency. This, according to Uwakwe, is because the central bank operates independently. "The central bank is empowered by the law to act independently. If the CBN decides to see that even with this executive policy that has passed by the Federal executive council, if the central bank still sees it as a threat to financial stability, they still have the power to continue to maintaining that law [CBN crypto restriction]," Uwakwe said. According to Uwakwe, the only way the CBN's crypto directive can be removed is when the central bank itself "deletes" the Feb. 5, 2021 directive. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. The Nigerian Federal government said on May 3 it had passed what it called the "national blockchain policy." The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/nigeria-passes-national-blockchain-policy-industry-player-says-central-bank-unlikely-to-lift-crypto-ban/

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posted: "PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate it, use various method like the FIFO, LIFO, YTD, and more! PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate i" Crypto Kenya What is profit and loss (PnL) and how to calculate it May 5 PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate it, use various method like the FIFO, LIFO, YTD, and more! PnL refers to the financial gain or loss from buying and selling cryptocurrencies. To calculate it, use various method like the FIFO, LIFO, YTD, and more! Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/what-is-profit-and-loss-pnl-and-how-to-calculate-it/

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posted: "A leaked document from a senior software engineer sounds the alarm about Google's artificial intelligence development. A leaked document from a senior software engineer sounds the alarm about Google's artificial intelligence development. Cointelegrap" Crypto Kenya Google engineer concerned about open-source AI gaining edge May 5 A leaked document from a senior software engineer sounds the alarm about Google's artificial intelligence development. A leaked document from a senior software engineer sounds the alarm about Google's artificial intelligence development. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/google-engineer-concerned-about-open-source-ai-gaining-edge/

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posted: " Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently faci" Crypto Kenya Argentine Foreign Minister Says a Latin American Common Currency Would Relieve Argentina's Stress on the Dollar Issue May 5 Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign Minister Talks Latin American Common Currency Santiago Cafiero, foreign minister of Argentina, talked about the benefits that the existence of a common currency for countries in Latam would bring to the region and his country. Cafiero explained that, while several proposals were brought to the four-hour meeting between Brazilian President Luiz Inacio 'Lula' da Silva and his Argentine counterpart Alberto Fernandez, the issuance of a common Latin American currency was not touched upon. However, Cafiero showed his support for the creation of such a currency, stating: It would be very good to have a common currency because it would avoid all the stress that Argentina has with the issue of dollars. Argentina has been battling a reduction of its foreign reserves in dollars, which have to be used to pay for imports due to the current structure of international trade. This has led the Argentine government to try to substitute the use of dollars for the Chinese yuan in its bilateral settlements with China, to preserve its dwindling reserves. Origins of the Common Currency Proposal in the Region The proposal of a common currency for the region was part of the presidential campaign of now-Brazilian President Lula, who stated that Brazil would use this currency to connect again with other countries in Latin America, to undermine the ubiquitous use of the dollar. The initial reports pointed at this project being similar to the euro, a substitute for the fiat currencies of several countries of the region, with Argentina and Brazil being the first proponents of the idea. The proposal was later discussed by the governments of Argentina and Brazil at the CELAC commitment in Buenos Aires in January, where the two governments signed a document to start working on the creation of this common currency, clarifying that its usage would be limited to settlements between countries of the Common Southern Market and the BRICS bloc, which is also studying to issue its own common currency. What do you think about the advantages that a Latin American common currency could give Argentina? Tell us in the comments section below. Argentine Foreign Minister Santiago Cafiero referred to the advantages the issuance of a Latin American common currency would give Argentina. Cafiero stated that the existence of such a currency would relieve the stress that the country is currently facing regarding the state of its foreign reserves and the devaluation of its fiat currency. Argentine Foreign Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/argentine-foreign-minister-says-a-latin-american-common-currency-would-relieve-argentinas-stress-on-the-dollar-issue/

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posted: "The Coinbase CEO has a lot of faith in Congress in making a "clear rule book" for crypto firms to follow. But the SEC? Not so much. The Coinbase CEO has a lot of faith in Congress in making a "clear rule book" for crypto firms to follow. But the SEC? N" Crypto Kenya Coinbase remains '100% committed' to US market: Armstrong May 5 The Coinbase CEO has a lot of faith in Congress in making a "clear rule book" for crypto firms to follow. But the SEC? Not so much. The Coinbase CEO has a lot of faith in Congress in making a "clear rule book" for crypto firms to follow. But the SEC? Not so much. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/coinbase-remains-100-committed-to-us-market-armstrong/

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posted: "Vice President Harris gathered the heads of several AI development firms to discuss potential risks posed by the budding technology. Vice President Harris gathered the heads of several AI development firms to discuss potential risks posed by the buddin" Crypto Kenya US vice president gathers top tech CEOs to discuss dangers of AI May 5 Vice President Harris gathered the heads of several AI development firms to discuss potential risks posed by the budding technology. Vice President Harris gathered the heads of several AI development firms to discuss potential risks posed by the budding technology. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/us-vice-president-gathers-top-tech-ceos-to-discuss-dangers-of-ai/

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posted: " Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. " Crypto Kenya Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals May 5 Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating the establishment of a credit line to pay for Brazilian exports in reals. Brazil to Serve as Bridge Between BRICS and Argentina Brazilian President Luiz Inacio Lula da Silva committed to serving as a liaison between Argentina and the BRICS bloc — integrated by Brazil, Russia, India, China, and South Africa — to facilitate economic help to aid the country in its financial and economic crisis. In a 4-hour meeting that took place in Brazil, Lula vowed to help his Argentine counterpart Alberto Fernandez in seeking international assistance for the ailing country. Lula stated: From a political point of view, I made a commitment to my friend Alberto Fernández that I will make any and all sacrifices so that we can help Argentina in this difficult time. Lula criticized the role that the International Monetary Fund (IMF) has played in the progress of the situation that Argentina, registering record numbers of inflation and devaluation, is currently facing. Lula called the IMF to "take the knife from Argentina's neck," explaining: The IMF knows how Argentina got into debt, knows who it lent the money to. Therefore, you cannot keep putting pressure on a country that only wants to grow, create jobs and improve people's lives. Concrete Steps During the meeting, which also had the assistance of the Economy Minister of Brazil and more of Lula's aides, President Lula called Dilma Rouseff, the current President of the New Development Bank, in order to modify a rule to allow the institution to offer direct aid to a state outside of the BRICS bloc. "Dilma was riding her bike in the morning in China and she promised to propose that the article be removed," he stated. The two states are also discussing the possibility of establishing a direct credit line to allow Brazilian exports to be collected in reals from an intermediary bank, with Argentina replenishing these funds later. This would allow Brazilian companies to regain their place as significant partners of Argentina, which opportunity was taken away by China. Brazilian Minister of Finance Fernando Haddad estimated that Brazil had lost $6 billion in exports during the last five years against China in Argentina. What do you think about President Lula and BRICS helping Argentina? Tell us in the comments section below. Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid Argentina. Also, the two countries are negotiating the establishment of a credit Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/brazilian-president-lula-to-act-as-brics-liaison-to-help-argentina-discusses-credit-line-in-brazilian-reals/

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posted: "Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Coi" Crypto Kenya Terraform Labs seeks to dismiss class action arguing US laws don't apply May 5 Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/terraform-labs-seeks-to-dismiss-class-action-arguing-us-laws-dont-apply/

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posted: "Block's Q1 earnings report reveals a 25% year-on-year increase in Bitcoin revenue from the fintech firm's flagship product Cash App. Block's Q1 earnings report reveals a 25% year-on-year increase in Bitcoin revenue from the fintech firm's flagship prod" Crypto Kenya Cash App Bitcoin revenue tops $2 billion in the first quarter May 5 Block's Q1 earnings report reveals a 25% year-on-year increase in Bitcoin revenue from the fintech firm's flagship product Cash App. Block's Q1 earnings report reveals a 25% year-on-year increase in Bitcoin revenue from the fintech firm's flagship product Cash App. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/cash-app-bitcoin-revenue-tops-2-billion-in-the-first-quarter/

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posted: "CertiK has contacted law enforcement in the U.S. and U.K. to find the pseudonymous operators. CertiK has contacted law enforcement in the U.S. and U.K. to find the pseudonymous operators. Cointelegraph.com NewsRead More" Crypto Kenya Blockchain security firm freezes $160K stolen in Merlin DEX 'rugpull' May 5 CertiK has contacted law enforcement in the U.S. and U.K. to find the pseudonymous operators. CertiK has contacted law enforcement in the U.S. and U.K. to find the pseudonymous operators. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/blockchain-security-firm-freezes-160k-stolen-in-merlin-dex-rugpull/

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posted: " The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insis" Crypto Kenya ECB Raises Interest Rates by 25bps Amid 'Too High' Inflation, 'No Pause,' Lagarde Says May 5 The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a "timely return" to its 2% inflation target and ECB president Christine Lagarde stating that rates are not "sufficiently restrictive" yet. ECB Eases Pace of Hiking Interest Rates in the Eurozone The Governing Council of the European Central Bank (ECB) decided to raise three key interest rates by 25 basis points (bps) on Thursday. While slowing the rate hikes, the monetary authority indicated that future increases are possible as its fight to tame inflation goes on. "The inflation outlook continues to be too high for too long," the regulator highlighted in a press release after the council's meeting. It explained that while headline inflation has declined over recent months, underlying price pressures remain strong. The interest rates on the main refinancing operations, the marginal lending facility, and the deposit facility will be increased to 3.75%, 4.00% and 3.25% respectively, from May 10, 2023, the announcement detailed. The 25 bps raise to the policy rates is the smallest since hiking began in July 2022. At the same time, the ECB emphasized that the council's future decisions will aim to ensure that "a timely return of inflation to the 2% medium-term target" is achieved. It also said that the "sufficiently restrictive" levels will be maintained "for as long as necessary." 'We Are Not Pausing, We Have More Ground to Cover,' ECB's Lagarde Insists The slowdown in Europe follows the U.S. Federal Reserve's decision to increase its benchmark interest rate by the same 25bps on Wednesday, with analysts interpreting the accompanying statements as hinting that this may be the last in the Fed's own series of hikes. However, ECB President Christine Lagarde made it clear that European interest rates are not yet "sufficiently restrictive" to bring inflation down. Speaking at a press conference after the Governing Council's meeting in Frankfurt, she stated: We are not pausing — that is very clear. We know that we have more ground to cover. Quoted by Reuters, she insisted that the ECB is "not Fed-dependent," dismissing the notion that if the U.S. pauses its rate hikes, the eurozone's monetary policy regulator would have to do the same. She highlighted the "significant upside risks" to inflation that remain in the common currency area and admitted that some governors were favoring a bigger rate hike. What are your forecasts for the ECB's next policy decisions on interest rates? Share them in the comments section below. The European Central Bank (ECB) raised its key interest rates by 25 basis points, slowing the pace from previous increases. However, as inflation in the euro area remains persistently high, future rate hikes may still be expected with the regulator insisting it will continue to seek a "timely return" to its 2% inflation target and Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/ecb-raises-interest-rates-by-25bps-amid-too-high-inflation-no-pause-lagarde-says/

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posted: "The bankrupt crypto brokerage has entered the final stages of liquidation procedures after Binance abandoned its acquisition deal last week. The bankrupt crypto brokerage has entered the final stages of liquidation procedures after Binance abandoned it" Crypto Kenya Voyager creditors could start seeing funds in the 'next few weeks' May 5 The bankrupt crypto brokerage has entered the final stages of liquidation procedures after Binance abandoned its acquisition deal last week. The bankrupt crypto brokerage has entered the final stages of liquidation procedures after Binance abandoned its acquisition deal last week. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/voyager-creditors-could-start-seeing-funds-in-the-next-few-weeks/

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posted: "A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online. A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed react" Crypto Kenya Kenya considers tax on crypto, NFT transfers and online influencers May 5 A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online. A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/kenya-considers-tax-on-crypto-nft-transfers-and-online-influencers/

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posted: " Iranian President Ebrahim Raisi has condemned the current unipolar world order, emphasizing that Iran plans to join the BRICS group to help create a multipolar world. "Iran wants to have constructive relations with all states on the basis of common inter" Crypto Kenya Iran Seeks BRICS Membership to Counter Western Hegemony, Promote Multipolar World, Says President Raisi May 5 Iranian President Ebrahim Raisi has condemned the current unipolar world order, emphasizing that Iran plans to join the BRICS group to help create a multipolar world. "Iran wants to have constructive relations with all states on the basis of common interests," he stressed. Iran Condemns Unipolar World Order Iranian President Ebrahim Raisi said on Tuesday that Iran plans to join the BRICS group to participate in the creation of a multipolar world, Russian news outlet Tass reported, citing his interview with Lebanese television channel Al Mayadeen. He explained that after joining the Shanghai Cooperation Organization (SCO), Iran is "getting prepared to join" the BRICS group. The Iranian president was quoted as saying: We condemn the unipolar world order which makes it possible for the United States and some three to four other countries to feel the rulers of the world. Russian President Vladimir Putin said this week that the multipolarity trend will intensify and those who do not follow this trend "will lose." The SCO was established in 2001 as a political, economic, and defense alliance; it is the world's largest regional organization. Iran recently became the ninth full member of the SCO, joining China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan, and Uzbekistan. The group also has observer states (Afghanistan, Belarus, and Mongolia) as well as dialogue partners (Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka, Turkey, Qatar, and Saudi Arabia). Noting that the U.S. "sought to isolate Iran and hinder its participation in the SCO, but failed," President Raisi stressed that the SCO membership has brought many benefits to Iran, including increased trade and access to new markets. Recently, the group revealed its plan to move away from the U.S. dollar and settle trades in the national currencies of its member countries. As for the BRICS, Iranian Foreign Ministry Spokesman Saeed Khatibzadeh said in June last year that Iran had applied to join the economic bloc, which comprises Brazil, Russia, India, China, and South Africa. The group is pushing to expand global influence, and 19 countries have either filed an application to join the BRICS or have expressed interest to join. The Iranian president stated: We are extending a friendly hand to any country that wants to cooperate with us. Iran wants to have constructive relations with all states on the basis of common interests. The BRICS nations have been ramping up their de-dollarization efforts and settling trades in national currencies. The group is also working to create a new common currency that is expected to be discussed at the group's next leaders' summit. What do you think about Iran wanting to create a multipolar world? Let us know in the comments section below. Iranian President Ebrahim Raisi has condemned the current unipolar world order, emphasizing that Iran plans to join the BRICS group to help create a multipolar world. "Iran wants to have constructive relations with all states on the basis of common interests," he stressed. Iran Condemns Unipolar World Order Iranian President Ebrahim Raisi said on Tuesday Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/iran-seeks-brics-membership-to-counter-western-hegemony-promote-multipolar-world-says-president-raisi/

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posted: "Coinbase CEO Brian Armstrong called the quarter a "turning point" for the company as it worked towards a more "financially disciplined" firm. Coinbase CEO Brian Armstrong called the quarter a "turning point" for the company as it worked towards a more " Crypto Kenya Coinbase share price spikes 7.9% as Q1 results beat expectations May 5 Coinbase CEO Brian Armstrong called the quarter a "turning point" for the company as it worked towards a more "financially disciplined" firm. Coinbase CEO Brian Armstrong called the quarter a "turning point" for the company as it worked towards a more "financially disciplined" firm. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/coinbase-share-price-spikes-7-9-as-q1-results-beat-expectations/

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posted: "CZ calls out Justin Sun for farming SUI at the expense of the little guys, "useless" PEPE up 20x, new 3AC venture in hot water in Dubai. CZ calls out Justin Sun for farming SUI at the expense of the little guys, "useless" PEPE up 20x, new 3AC venture i" Crypto Kenya Justin Sun's SUI-farming sins, PEPE's wild run, 3AC's oyster philosophy: Asia Express May 5 CZ calls out Justin Sun for farming SUI at the expense of the little guys, "useless" PEPE up 20x, new 3AC venture in hot water in Dubai. CZ calls out Justin Sun for farming SUI at the expense of the little guys, "useless" PEPE up 20x, new 3AC venture in hot water in Dubai. Cointelegraph.com NewsRead More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/justin-suns-sui-farming-sins-pepes-wild-run-3acs-oyster-philosophy-asia-express/

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posted: " El Salvador's president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country's technology sec" Crypto Kenya El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming May 5 El Salvador's president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country's technology sector, generate more jobs for its population, and attract foreign investment. Bukele Signs Law to Boost Technology Industry in El Salvador The president of El Salvador, Nayib Bukele, announced Thursday on Twitter: I've just signed into law the Innovation and Technology Manufacturing Incentives Act that eliminates all taxes (income, property, capital gains, and import tariffs) on technology innovations, software and app programming, AI, computer and communications hardware manufacturing. Commenting on the new tax law, Salvadoran Minister of Economy María Luisa Hayem described: "El Salvador is ready to attract new investments in the technology sector, and thereby generate more jobs for our population." El Salvador's director of the Central American Bank for Economic Integration (CABEI), Luis Rodríguez, was quoted by Diario El Salvador as saying: "We welcome this commitment to the future of El Salvador, we are ready as CABEI to accompany this entire process." CABEI is a regional entity established with the objective of promoting economic integration and balanced economic and social development in Central America. Érick Chacón, president of the Salvadoran Fintech Association expressed his excitement about the bill to the publication when it was still being discussed in the Legislative Assembly weeks ago. He said that the new tax incentives would allow the ecosystem to expand and that these are important steps to position El Salvador as a technology and innovation hub. El Salvador's new tax law is welcomed by many on social media. Venture capitalist Balaji Srinivasan commented on Twitter: "It's not about first world and third world anymore. It's about ascending world and descending world. And under @nayibbukele's leadership, El Salvador has entered the ascending world." Dr. Rafael Fonseca, director for Innovation and Transformational Relationships at Mayo Clinic's campus in Arizona, tweeted: If you are not paying attention to what is going in El Salvador you should. The sound of business moving there will be loud. In September 2011, El Salvador became the first country to make bitcoin legal tender alongside the U.S. dollar. Since then, the country has accumulated thousands of BTC and is regularly buying bitcoin for its Treasury. What do you think about El Salvador's Innovation and Technology Manufacturing Incentives Act? Let us know in the comments section below. El Salvador's president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country's technology sector, generate more jobs for its population, and attract foreign investment. Bukele Signs Law to Boost Technology Industry in El Source: Bitcoin News Read More Comment Unsubscribe to no longer receive posts from Crypto Kenya. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptokenya.co.ke/el-salvador-eliminates-all-taxes-on-technology-innovations-ai-app-programming/

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