Welcome to Crypto NFT Today – the second edition! Over the past two weeks, there have been plenty of must-know events that will set the tone for the future. From the Central Bank of Nigeria lifting the ban on crypto trading, to new initiatives in digital identity and blockchain integration for Minecraft, there’s lots of essential news to keep up with.
The Central Bank of Nigeria Lifts Ban on Transacting Crypto
The Central Bank of Nigeria (CBN) has recently lifted its ban on cryptocurrency trading, allowing the financial sector to jump back into this market. The CBN stressed the need to regulate virtual assets service providers (VASPs), which includes cryptocurrencies and crypto-assets, in order to address concerns relating to money laundering and terrorist financing. This was the second ban imposed – the first was by the Securities Exchange Commission in February 2021.
Digital Identity and Blockchain Integration for Minecraft
Mojang, the developers of Minecraft, recently revealed their collaboration with Microsoft to implement World ID for player authentication. This marks a significant advance in digital identity, and the integration with blockchain technology. Secure player authentication is becoming increasingly important as cyber threats and hacking incidents against online players continue to rise. By leveraging World ID, players can ensure their digital identities will be protected and verified.
CBI Approves Crypto Payment Network Ripple
The Central Bank of Ireland (CBI) has approved the Crypto Payment Network, Ripple, to operate as a virtual assets service provider (VASP). In an announcement on December 19, Ripple stated that it was included in the Central Bank of Ireland’s list of registered VASPs, enabling the provision of specific digital asset services in Ireland. According to information available on the CBI’s VASP register, Ripple is authorized to facilitate transactions.
Litecoin Experiences Unexpected Surge
Litecoin (LTC), an important digital asset, recently experienced an unexpected surge, generating over one million new email addresses in a single 24 hour period. This increase is due to increased transactions and heightened network engagement, illustrating Litecoin’s position as a major player in the cryptocurrency space.
