SARB Sets Crypto Regulation
The South African Reserve Bank (SARB), announced that it will roll out cryptocurrency regulation within the next 18 months. The government institution plans to categorize crypto as financial assets to bring them into the mainstream sector.
“We are not intent on regulating it as a currency as you can’t walk into a shop and use it to buy something. Instead, our view has changed to regulating (cryptocurrencies) as financial assets. There is a need to regulate it and bring it into the mainstream, but in a way that balances the hype and with the investor protection that needs to be there,” said Kuben Naidoo, Deputy Governor of SARB.
Naidoo believes that global central banks are studying cryptocurrencies to understand how they can benefit their financial systems. He also stated that cryptos present technological advancements that can improve payment systems.
XRP Ledger and Ducati Partnership
Ducati, an Italian motorbike manufacturer, is venturing into Web3 in partnership with NFT PRO and XRP Ledger. NFT PRO, an NFT solutions firm, is responsible for curating Ducati’s NFT collections. XRP Ledger, a decentralized blockchain, was chosen because of its ultra-fast, low-cost, and carbon neutral footprint.
“Entering WEB 3.0 is another way to get closer to the Ducatisti community by extending the number of services offered. It also represents an opportunity to meet and make ourselves known to a new community of NFT enthusiasts. Allowing them to live unique Ducati-style experiences and collect the digital assets that we will develop exclusively for this new dimension of the brand,” said Claudio Domenicali, Ducati CEO.
In September 2021, Ripple committed $250 million to the Creator Fund to help artists build NFTs on the XRP Ledger. Earlier this year, Ripple partnered with CrossTower, a cryptocurrency exchange, to mint NFTs on the XRP Ledger.
Disney Accelerator Chooses Polygon
Walt Disney, the biggest entertainment company, has chosen Polygon to participate in its 2022 Accelerator Program. The Disney Accelerator program empowers collaborative innovation with the Walt Disney Company. This year, the program selected six companies to participate. They will focus on augmented reality, AI, and NFTs.
“For nearly a century, Disney has been at the forefront of leveraging technology to build the entertainment experiences of the future. The Disney Accelerator is thrilled to be part of that legacy, and with our class of companies, we look forward to furthering our commitment to innovation,” said the press release.
Written by Lindi Miti © Crypto University 2022
