Crypto NFT Today: Latest News in Blockchain, Cryptocurrency and NFT – December Week 4 – Innovation & Tech Today
Welcome to another edition of Crypto NFT Today! The past two weeks have certainly been full of events worth knowing about that will be turning points for the future of blockchain, cryptocurrencies, and NFTs.
With the Central Bank of Nigeria lifting the ban on crypto transactions, new initiatives for digital identity and blockchain integration for Minecraft, and much more, there is a lot of essential news you should know about. So, let’s dive in and see what’s going on!
Central Bank of Nigeria lifts ban on crypto transactions
The Central Bank of Nigeria (CBN) has lifted its ban on cryptocurrency transactions, allowing financial institutions to start venturing into the industry once again. The CBN stressed the need to regulate virtual asset service providers (VASPs), including cryptocurrencies and crypto assets, to address concerns related to money laundering and terrorism financing.
The initial ban, imposed in February 2021, prompted regulatory efforts by the Securities and Exchange Commission. The CBN’s recent circular, dated December 22, provides guidelines for banks and financial institutions regarding crypto-related services.
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Digital Identity and Blockchain Integration for Minecraft
Mojang, the developers of Minecraft, recently revealed its collaboration with WorldCoin and Microsoft to implement World ID for player authentication. This marks a significant advancement in terms of digital identity and the integration of blockchain technology within the gaming sector.
As cyber threats and hacking incidents targeting online gamers continue to increase, secure player authentication is becoming increasingly important. By taking advantage of World ID, players can guarantee that their digital identity is secure and verified.
CBI approves crypto payment network Ripple
The Central Bank of Ireland (CBI) has approved crypto payment network Ripple to operate as a Virtual Asset Service Provider (VASP) in the country. In an announcement on December 19, Ripple said it has been added to the Central Bank of Ireland’s list of registered VASPs, enabling the provision of specific digital asset services in Ireland.
According to information available on the VASP register of the Central Bank of Ireland, Ripple is authorized to facilitate transactions on behalf of individuals or entities. Additionally, Ripple may provide cryptocurrency exchange services pegged to fiat currencies, facilitate exchanges between different cryptocurrencies and provide custody services, as reported coin telegraph,
Litecoin is experiencing an unexpected surge
Litecoin (LTC), a leading digital asset, has generated more than 1 million new addresses in a single day. This surge is in line with increased transaction volumes and increased engagement on the network, solidifying Litecoin’s position as a notable player in the cryptocurrency sector.
Source: innotechtoday.com
