The biggest crypto news stories of the week
News stories come in thick and fast in the crypto world. Here’s a handy roundup of the latest crypto, blockchain and DeFi headlines:
US SEC adds new recruits to combat fraud
The US Securities and Exchange Commission (SEC) has added 20 new recruits to clamp down on fraud, creating a new task force known as the ‘Crypto Assets and Cyber Unit.’ The new and improved unit will have a total of 50 employees, who are charged with detecting suspicious activity linked to crypto asset exchanges, lending and NFTs.
Gucci joins the Bitcoin revolution
Gucci, one of the most prominent fashion houses in the world, has confirmed that some of its US stores will start accepting crypto payments, including Bitcoin, by the end of the month. The first stores where shoppers can use cryptocurrencies, including Bitcoin Cash, Ethereum, Litecoin and Dogecoin, to snap up exclusive clothing and accessories are located in New York, Los Angeles, Miami, Atlanta and Las Vegas. The famous luxury label plans to roll out the scheme to cover more locations in the near future. Buyers will be sent an email, which contains a QR code to enable them to pay via their digital wallet.
Coinbase launches NFT marketplace for all
Coinbase has launched a beta version of its NFT marketplace, which is accessible to all. Coinbase NFT is looking to capitalize on growing interest in NFTs, offering zero-fee transactions as an introductory, time-limited offer. Reports suggest that the company is eager to attract users with high-profile partnerships, including a film trilogy with Bored Ape.
Venture capitalists invest more than $10 billion in crypto projects in the first quarter
Venture capitalists are investing more money than ever in crypto projects, with a surge in interest in blockchain apps and platforms during the first quarter. In 2022, investments have reached the $10 billion mark globally. This is a substantial increase from 2020 when VC investment totalled $5.5 billion for the entire year. Figures for 2022 look set to smash spending last year, which totalled $28 billion.
California’s Governor issues cryptocurrency executive order
The governor of California, Gavin Newsom, has signed a cryptocurrency executive order, which outlines a roadmap for the state to implement consumer protections and new regulations while profiting from the benefits of using cryptocurrencies and supporting crypto and blockchain-based business. Draft guidelines will be drawn up by the Business and Development Office in association with the Business, Consumer Services and Housing Agency and the Department of Financial Protection and Innovation. The order will play a key role in enabling the golden state’s tech companies to continue operations. Statistics show that over 25% of US tech businesses are based in California.
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