Fidelity offers Bitcoin for retirement accounts, a second country makes Bitcoin legal tender, and the first dogecoin is sent without using the internet. These stories and more this week in crypto.
Fidelity allows BTC on retirement plans
One of the largest asset managers in the world, Fidelity Investments will allow investors to add Bitcoin to their retirement plans. The company revealed that MicroStrategy would be its first customer for the new product, where employees could put up to 20% of their 401(k) balance into digital asset accounts. Overall, Fidelity administers plans for more than 20 million members.
A second country makes Bitcoin legal tender
Less than a year after El Salvador adopted Bitcoin as legal tender, the Central African Republic has become the second country to do so. A new bill makes Bitcoin legal tender alongside the local CFA franc. The president’s office is quoted as saying “This decision puts the Central African Republic on the map of the boldest and most visionary countries in the world.”
First Bitcoin-backed loan from Goldman Sachs
Goldman Sachs has made its first bitcoin-backed loan to Wall Street, which is a major step forward for institutional adoption of cryptocurrency. The global investment bank has allowed an individual borrower to use bitcoin as collateral for a cash loan. A Goldman spokesperson said the deal was particularly attractive because of its structure and round-the-clock risk management.
Telegram to support crypto payments
The decentralized blockchain TON Foundation has added a new crypto payment bot to the Telegram messaging app that allows over 550 million users to send Toncoin cryptocurrency via chat. The TON Foundation was formed by members of the blockchain community who wanted to keep Telegram’s crypto efforts alive after Telegram abandoned it after battling with the SEC.
PayPal takes crypto further
During PayPal’s quarterly earnings call, CEO Dan Schulman said crypto wallets will play a key role in the future growth of the digital payments company, as more than 50% of PayPal’s base already uses the corporate digital wallet. Schulman said PayPal needed to double down on its digital wallet because that’s where the future of the industry is heading.
Panama passes crypto-friendly bill
Panamanian lawmakers have approved a bill to regulate the use of crypto. The bill opens the door to private and public use of crypto assets and will allow people to pay their taxes with cryptocurrencies. The Central American country aims to become a hub of innovation and technology in Latin America.
Buenos Aires will accept crypto payments for taxes
Buenos Aires, the capital of Argentina, plans to allow its citizens to pay taxes with cryptocurrency. The initiative is part of a digitization push called “Buenos Aires+,” with which the city plans to expand its citizens’ access to government records and services using distributed ledger technology.
Dogecoin transaction sent by radio signal
The first dogecoin transaction by radio transmission was sent with the help of Elon Musk’s Starlink global satellite network. The developers of Dogecoin say that Radio Doge will enable access to dogecoin for people outside of internet reach. Amateur radio equipment and portable antennas have already allowed people to push Bitcoin transactions without internet access.
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That’s what happened this week in crypto, see you next week.