The holidays have mostly come to a conclusion and everyone is getting back into the swing of the satoshies. The winter may be cold and the snow soft, but the cryptocurrency industry has not slowed down for any moment and it is as hot as ever. We continue to see developments with regulations in sovereign nations, while private institutions find new entries into the crypto space. Fashion is diving into NFTs, while environmentally conscious investors have identified benchmarks for their support of growth and sustainability. Crypto adoption continues strong.
Cryptocurrency regulation is often on the agenda of governments and central banks around the world. As reported by Decrypt, the U.S. Federal Reserve is close to releasing their “crypto report” while engaging with the public for input. Fed chair Jerome Powell has said the report will be dropped “in coming weeks.” This will be an important development to monitor. Remember to exercise voices and votes when the opportunities present themselves.
Fashion has been one of the most recent industries to explore possibilities with NFTs and engage first hand with their communities on various levels. Gap Inc., a popular clothing retailer, has announced their NFT collection, which will be hosted on the Tezos blockchain. Their NFTs will not only be digital collectables, but will also offer various levels of utility. Epic-level NFTs will provide access to exclusive physical merchandise.
Institutions continue with cryptocurrency adoption. Visa has partnered up with a blockchain tech company ConsenSys in order to develop a module to assist central banks and financial institutions to create services and applications on top of central bank digital currency (CBDC) blockchain networks.
Three factors that have become a common term that are often referred to by the crypto community and socially conscious investors are Environmental, Social responsibility, and Governance – ESG. ESG initiatives have quickly become a benchmark for many, with the main focus being on industry growth and sustainability.
By Ivan Dimov