Daily Crypto News 23 September
Bookblocks.io, a non-fungible token firm, has teamed up with a New York-based group to help Afghan women gain access to education in the wake of the Taliban's takeover. On Oct. 5, Bookblocks.io announced the launch of a non-fungible token, or NFT, with proceeds going to Women for Afghan Women, an organization that helps women in Afghanistan and the United States gain access to education and vocational training. According to Bookblocks.io, 100% of the proceeds from the sale of the NFTs will go to Women for Afghan Women, with a residual of 5% for each successive sale. In honor of the 2.2 million Afghan girls who are currently unable to attend school, the business aims to print 2,200 copies of the NFT. At the time of publication, the pricing starts at 0.025 Ether (ETH), which is around $75.54.
Chairman Gary Gensler of the Securities and Exchange Commission (SEC) reiterated that his agency had "strong" jurisdiction to regulate the cryptocurrency business. Under the direction of Treasury Secretary Janet Yellen, Gensler told the Washington Post that the SEC is now putting together a study on stablecoins. He also stated that the SEC is collaborating with financial regulators in order to gain additional regulatory jurisdiction over stablecoins from Congress. Satoshi Nakamoto – whom Gensler referred to as “Nakamoto-san” – the pseudonymous developer of bitcoin, was also acknowledged by Gensler with stimulating innovation and being a catalyst for change in how central banks and the private sector manage payment systems. Despite the advantages of innovation, Gensler emphasized the significance of proactive cryptocurrency regulation. Gensler said, "I don't believe it's a smart idea to wait until there's a spill in aisle three." “It's fine if we don't do anything and there's never a spill in aisle three... I just think there's a lot of warning signals and flashing lights that we're going to have a spill in aisle three, and I'd rather get ahead of it.”
Bhutan's Royal Monetary Authority is teaming up with Ripple to test a central bank digital currency in the Himalayan monarchy. Bhutan's central bank will use Ripple Labs' private ledger to issue and administer a digital ngultrum, according to a statement released on Wednesday. Thousands of Bhutanese individuals do not have access to a savings account or a credit card, despite several news outlets reporting on the country's "gross national happiness" as an alternative to traditional finance. The RMA stated that by 2023, it intends to improve financial inclusion in the country by 85%. “In addition to privacy, the CBDC solution is specially engineered to handle payments at the number of transactions necessary by a successful retail CBDC,” Ripple explained. “This gives central banks like the RMA the protection, control, and flexibility they need to implement a CBDC without jeopardizing financial stability or monetary policy goals.”