The UK financial regulator, FCA, fined CB Payments Limited (CBPL), a subsidiary of Coinbase Group, £3,503,546 (approximately $4.5 million) for servicing high-risk clients.
According to a survey by the Bank of Canada, only 2.5% of Canadians used cryptocurrencies for everyday payments last year. Predominantly, individuals continue to favor traditional forms of electronic payments such as those made via phone numbers or email over cash and bank cards.
Ripple (XRP) has disclosed plans for launching its own stablecoin, which will be pegged to the dollar and backed by bank deposits along with short-term U.S. Treasury bills. This move aims to expand Ripple Payments' capabilities in facilitating cross-border transactions. The introduction of this stablecoin promises:
Ulrich Bindseil, Director General of Market Infrastructure and Payments at the European Central Bank, along with his advisor Jürgen Schaaf, have openly expressed their disappointment with Bitcoin ETFs and the influx of capital into the crypto sector after the SEC's landmark decision.
Joe Lonsdale, the co-founder of analytics company Palantir, views the expansion of artificial intelligence as a potential driving force for the cryptocurrency market. He foresees a future where many AI-focused companies will embrace cryptocurrencies for payments.
Social network X recently introduced an account named XPayments, signaling the potential launch of payment services on the platform soon.
Tangem, a company specializing in card-based crypto wallets, is collaborating with Visa to create a new hardware wallet incorporating Tangem Pay technology. This will enable users to make payments at standard terminals.
Bloomberg sources report that Apple won't be paying OpenAI for using its artificial intelligence features (ChatGPT) in its products, at least at the start of their collaboration. Apple believes that the value of embedding OpenAI’s technology into millions of its devices outweighs monetary payments.
Lance Hill, the original screenwriter of the 1989 film "Road House," sued Amazon MGM Studios for alleged copyright infringement and artificial intelligence misuse. Hill claims the studio expedited the remake's production, using AI to generate actor dialogue before the copyrights reverted to him.
A federal grand jury has confirmed charges against Frank Richard Ahlgren III, a resident of Texas, for filing false tax returns and engaging in deposit manipulation to avoid tax payments. The unreported income is estimated at around $4 million.
The announcement of new payment functionalities on X has catalyzed a surge in interest for meme coins such as Dogecoin (DOGE), Floki (FLOKI), and Shiba Inu (SHIB). This growing enthusiasm is evident in the significant increase in futures open interest for these coins. Despite the heightened trading volumes, there has been little impact on their prices.
In El Salvador, only 12% of the population reportedly used Bitcoin for payments of goods and services in the past year, marking a 12.4% decline from the 2022 statistics. This information comes from a study conducted by the Central American University José Simeón Cañas, based on face-to-face interviews with 1,280 people.