RABIT Weekly News(W1 February 2023)

Feb 3, 2023 • 1 min read

Elon Musk, the CEO of Twitter, is currently reviewing adapting the cryptocurrency payments system as well as applying for a regulatory license in the US to provide a payment system. Last year, Musk mentioned, “For maximizing the utility of Twitter service, news, entertainment, and payment are the three key factors.”
As Hong Kong announces its plan to allow retail investors to invest in cryptocurrency, ones must obtain a license issued by the Hong Kong monetary authority to distribute stablecoins. HKMA said, “The mandatory license will be implemented this year after a consultation with stakeholders.”
Visa CEO announced its initiatives progressing and said stablecoins and CBDCs might play meaningful roles as payment systems. He added that he would expand the company’s role in the virtual asset industry while maintaining the brand reputation.

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