El Salvador’s Bitcoin ($BTC) Adoption Could Cost Western Union Millions, Here’s Why
El Salvador created history in June after the country’s congress passed the Bitcoin Bill making it a legal tender in the country. The country celebrated Bitcoin Day on September 7 as BTC was officially integrated into the country’s monetary system. President Bukele said that the decision to shift to Bitcoin was done to offer banking services to over 70% of un-banked Salvadorians.
The Chairman of Russia’s Duma Financial Market Committee, Anatoly Aksakov announced that the government plans to deem the pursuit of digital currency under the entrepreneurial activities category. On the side-lines of the Moscow Financial Forum, Aksakov highlighted upcoming changes in virtual currency regulations including issues related to mining, and the emission caused by the business of digital currency.
Circle, the blockchain firm behind the USDC stablecoin is all set to go public on Nasdaq via a SPAC merger. The blockchain firm will merge with Special Purpose Acquisition Company Concord Acquisition Corp (NYSE: CND). The merger deal would see an Irish company acquire both Concord and Circle and list publically on Nasdaq under the ticker symbol ‘CRCL’.