OTC’s Weekly Retrospect 25/10–29/10/2021

Every week we take a look back over the week’s biggest Bitcoin and Digital Asset stories making waves in the cryptosphere.

Major news stories this week;

1. U.S. Regulators Exploring How Banks Could Hold Crypto Assets — FDIC Chairman
2. Mastercard Partners with Bakkt to bring Cryptocurrency Services to Hundreds of Millions of U.S. Customers
3. China is Thinking about Unbanning Bitcoin Mining After Price Rise
4. Dubai Financial Services Authority Releases Regulatory Framework for “Investment Tokens”
5. Walmart Is Entering The Crypto World 200 Bitcoin ATMs With Plans To Add More
6. Twitter Reportedly Testing Bitcoin Lightning Tip Jar for Android
7. Tether Trials Solution to Comply With FATF Travel Rule

Story Summaries;

1. A top U.S. bank regulator said U.S. officials are looking to provide a clearer path for banks and their clients that are looking to hold cryptocurrencies, in order to keep control over the fast-developing asset. Federal Deposit Insurance Corporation chair, Jelena McWilliams, told Reuters in an interview on Monday that a team of U.S. bank regulators is trying to provide a roadmap for banks to engage with crypto assets.
2. Mastercard announced on Tuesday that it is partnering with Bakkt to bring cryptocurrency solutions and services to U.S.-based merchants, banks and fintech companies. Combining Mastercard’s wide network capabilities with Bakkt’s trusted digital asset platform with integrated custodial wallets, the new partnership seeks to raise crypto awareness and exposure, allowing hundreds of millions of U.S. consumers to buy, sell and hold digital assets.
3. According to CoinTelegraph, China’s National Development and Reform Commission (CNDRM) is now seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries, after seeing that the ban helped the U.S. to become the world’s dominant crypto mining nation.
4. The Dubai Financial Services Authority (DFSA) has announced its regulatory framework for “Investment Tokens,” which can be securities or derivatives. The agency defines investment tokens as cryptographically secured tokens that represent rights and obligations similar to those conferred by a security or derivative or has a similar purpose and are issued, transferred, and stored using Distributed Ledger Technology (DLT).
5. Walmart, the leading retailer in the United States, has partnered with coin-cashing machine company Coinstar and crypto-cash exchange CoinMe as it enters the cryptocurrency space. The retailer has installed 200 Bitcoin ATMs at its various locations across the United States. Walmart intends to install at over 8,000 locations in the United States over the coming months.
6. Twitter is working on its Bitcoin Tip jar for Android devices, tech researcher Jane Manchun Wong has revealed. Wong shared screenshots via the social media platform showing testing forLightning-powered BTC tipping weeks after promising to bring the feature to millions of users with Android services. Information Wong shared on 24 October shows screenshots of the alleged testing, with details of how to set up a wallet and receive tips paid in Bitcoin.
7. Tether, the operator of one of the leading stablecoins in the crypto market has announced it will commence trials of a system that will allow the company to comply with the Financial Action Task Force (FATF) travel rule. The system, that is provided by Notabene, a company that offers ID and travel rule compliance solutions, will allow Tether to automatically communicate travel rule data between Virtual Asset Service Providers (VASPs).

Wishing you a happy and relaxed weekend ahead from all of us here at OTC Supply… Happy Thursday!