Meta Pay soon to be released
Binance onboarding a new partner for payments in Brazil
“One rule book” for all crypto regulation
GM this is vEmpire — here we will help you understand what is what in the crypto world
This week starts in an interesting way, Here are some things we found interesting:
🤔 Meta Pay soon to be released
💸 Binance onboarding a new partner for payments in Brazil
📜 “One rule book” for all crypto regulations
Meta launches Meta Pay, a Digital Wallet dedicated to the Metaverse
Meta has announced the introduction of a new wallet designed to allow value exchange in the metaverse.
Meta Pay, a rebranded version of the previous Facebook Pay service, will continue to serve the same purposes as Facebook Pay did in the past, but it will be expanded to serve as a common method of making purchases using digital identities in the metaverse as well.
The issue of transaction and value exchanges in the metaverse is something that Meta is attempting to address.
Meta Pay will continue to support the wide range of payments it already processes, but with a new emphasis on digital identification and evidence of ownership.
The CEO of Meta (formerly Facebook), Mark Zuckerberg, claims that Meta Pay would tey and solve these two problems in the metaverse. He also said: “This kind of interoperability will deliver much better experiences for people and larger opportunities for creators. That is, the more places you can easily use your digital goods, the more you’ll value them, which creates a bigger market for creators.”
Binance announces new payments partner for Brazil
Due to the ban on direct fiat deposits and withdrawals in Brazil, Binance has chosen a new payments partner.
The business announced that it will now cooperate with Latam Gateway, a payments processor with a history dating back to 2019. (We know — “that was just yesterday”)
According to Binance, the issue with fiat deposits and withdrawals would soon be normalized.
One of the top cryptocurrency exchanges by volume of trades, Binance, has revealed that this new alliance will address issues with fiat transactions on its platform in Brazil.
According to a blog post about the transaction, Latam Gateway, a payments processing business in Brazil, was created by executives with prior industry knowledge in 2014.
At the same time, they also founded Boa Compra, another payments processing business.
This is a temporary solution taken by Binance to allow consumers to continue using its services while the exchange is currently in the process of purchasing Sim;paul, a company regulated by the securities watchdog of Brazil.
“One rule book” for all crypto regulations
According to reports, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has suggested “one rule book” for the regulation of crypto assets.
Gensler stated, “If this business is going to move forward, it will establish some better trust in these markets.”
According to the Financial Times, SEC Chairman Gary Gensler has proposed “one rule book” whit which he hopes to reach agreements with other financial regulators, including the Commodity Futures Trading Commission (CFTC), to avoid gaps in the crypto sector’s oversight.
According to the SEC chairman, the rule should protect investors from fraud, front-running, and manipulation, as well as provide transparency over the order books.
According to Gensler, the rule book will apply to “all trading regardless of the pair — [whether] a security token versus security token, security token versus commodity token, commodity token versus commodity token.” (Nothing can escape the reach of old Gary)
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