So you've been hearing a lot about cryptocurrencies and want to get in on the action, but you're not sure how? One way to start is by getting a crypto debit card.

There are a lot of crypto debit cards on the market, so it can be hard to know which one is right for you. That's why we've done the hard work for you and compiled a list of the best crypto debit cards in the U.K.

Topping our list is the [Revolut](/news/article/revolut-news-approved-eea). This card allows you to buy, hold and exchange 25 currencies, including Bitcoin, Ethereum, and Litecoin. It also offers free international ATM withdrawals and no exchange fees.

Next up is the [Coinbase](https://www.coinbase.com/card). This card allows you to spend your Bitcoin, Ethereum, Litecoin, and Bitcoin Cash anywhere that is Visa accepted. It also comes with 0% foreign transaction fees and no annual fees.

Finally, we have the [Wirex](https://wirexapp.com/en). This card is unique because it offers both traditional Visa and Bitcoin debit cards. It also comes with 0% foreign transaction fees, a contactless payment option, and mobile app support.

## What Are the Benefits of Using a Crypto Card?

There are a few benefits of using a crypto debit card. Firstly, it's a tremendous offline crypto wallet to store multiple currencies. It allows you to securely store your coins offline, which is vital for keeping them safe from theft or hacking.

Another benefit of using a crypto debit card is that it makes spending your cryptocurrencies easier. You can use this to buy goods and services online or in-store, just like you would with a regular debit card. This is a convenient way to use your coins for everyday transactions.

## How to use a crypto debit card

So, you've decided to buy a crypto card! Well done! These handy little cards make it easy to spend your cryptocurrency in the real world. But before you can start spending, you need to know how to use them.

### Here's some steps on how to use your crypto debit card:

1. First, make sure the crypto debit card is linked to your wallet.

2. Next, add funds to your card by transferring your cryptocurrency into the card's account or buy your digital currencies on the issuers application.

3. Once your crypto debit card has been funded, you can start spending! Some issuers require you to sell and convert your digital currency to fiat before spending and others will do the your digital currency to fiat conversion at spot on your behalf if your account is only funded in crypto. Just look for the merchant's logo and tap 'pay' on your card terminal.

4. Your funds will be transferred immediately to the merchant and you'll receive a digital receipt for your purchase. 

Easy!

 



What are the best crypto debit cards in the UK?

Last month the Crypto.com got [approval from the U.K.](/news/article/crypto.com-news-uk-approval), now the leading exchange is about to upgrade its arena. It has been announced that the Crypto.com Arena will undergo an extensive renovation project worth millions. It is working with AEG Sports to expand its services in the sporting sector. 

![crypto.com.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/crypto_com_9c882fbdcf.png)
 
This strategic investment has been made by Crypto.com to continue its marketing effort towards attracting clients from sports betting market. Many sports fans already engage in sports betting and  may be interested in using the platform for their crypto currency investments. 

## Nine-figure investment plan

AEG Sports has outlined a nine-figure investment plan to help make significant improvements in the stadium. The renovation project is scheduled to be completed in the next two years. However, this renovation project would not affect sporting activities and events. 

The project includes a makeover of the entire venue’s infrastructure, chairman’s club, suites for the main concourse, installation of LED screens, and building a Tunnel Club. Moreover, it will also be linking the L.A. Live area to the Crypto.com Arena, which would include an outdoor socialising space.  

The CEO and President of AEG, Dan Beckerman, shared his thoughts on the project. He mentioned the firm previously has also invested millions in this historic and state-of-the-art venue. He said this investment shows the firm’s commitment to serving sports fans, players, and artists.  

On the other hand, Tim Harris, the Lakers’ president of business operations, also shared his views on the project. He said, "Lakers and AEG have shared a vision of providing a premier experience”. He also believes these renovations and upgrades will transition the venue into “a pinnacle of entertainment for decades to come.”

The makeovers are expected to be completed in the year 2024. However, the upcoming NHL seasons and 2022/2023 NBA will see comprehensive upgrades that will provide a better fan experience. 




Crypto.com Arena to get extensive renovations

US study suggest that blockchain learning should become mandatory in schools so that students can "learn about the future of the world's economy."

Parents and college graduates were screened to ensure they had an ample level of knowledge of blockchain technology, cryptocurrency, NFTs, and the Metaverse before they were allowed to participate in the survey. Anyone who didn't understand the topics was disqualified from participation. 884 American parents and 210 US college graduates participated in the survey.

According to a [new survey](https://study.com/resources/crypto-education.html) from the online educational platform Study.com, 64% of parents and 67% of college graduates surveyed believe that cryptocurrencies should be included in mandatory education.

Both sample groups had slightly different opinions on blockchain learning. Between 25%-40% of respondents agreed that courses on  blockchain, the Metaverse, and nonfungible tokens (NFTs) should be included in the curriculum.
 
![blockchain learning.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/blockchain_learning_fab5cdbd4e.png)

Source: ([Study.com, 2022](https://study.com/resources/crypto-education.html))

## Survey Result

The survey result coincides with rising interest in and use of cryptocurrencies in the US. According to the survey, parents and college graduates who have invested in cryptocurrencies are likely to make financial contributions to their children's education. 

Over three-quarters of parents who hold cryptocurrencies make an average contribution of $766 in their children's blockchain learnings, while over three-quarters of graduates who have invested in cryptocurrencies spend an average of $1,086 on education.

The survey also revealed that both groups thought that understanding "the future of the world's economy" and ways to "diversify investments, create opportunities, and grow an investing mind" is most crucial.

## Universities are adding blockchain learning to their curriculum

Several American universities have started offering introductory courses on [blockchain](/articles/learn-moni/what-is-blockchain) technology and cryptocurrency applications, including Arizona State University and the University of Connecticut. According to Marianne Lewis, a professor at Connecticut University, the 14-week elective course at the university is intended to teach students "how to manage cryptocurrencies and how such digital assets impact our economy."

Prestigious universities like Harvard University and the Massachusetts Institute of Technology (MIT) have started to offer similar courses.



US parents want blockchain learning in school

Competition in the crypto space has made a few projects come up with innovative ways to entice and get new users. Some crypto projects offer  tokens for free, but with a catch. Depending on the project you can earn free crypto by learning or playing.

## What is Learn to earn crypto?

Learn to earn crypto involves getting free crypto by learning about digital assets on a crypto platform. The free crypto you get is usually the one you’ve learned about.

Since there is nothing like a free lunch , how do the platforms benefit? The platforms benefit in two ways. Firstly, by learning about crypto on a platform you boost its traffic. You are also more likely to engage with other services the platform provides.
Secondly, the free crypto tokens you get make you an investor in the tokens. The more people get the free crypto, the better its chances of price appreciation over time.

## Learn to earn crypto platforms

A few well-known platforms offer the learn to earn crypto incentive.

## Coinbase

Coinbase is a reputable crypto exchange with thousands of [coins](/coins), tokens and NFTS. The platform allows users to learn about different crypto currencies and earn through its [Coinbase Earn](https://www.coinbase.com/learning-rewards) page.

As per the platform users can choose whichever available crypto coin they would like to learn about, do a simple quiz, testing whatever they have learned then get their free crypto. Some of the coins and tokens users can learn and earn from include GRT (The Graph), GAL (Project Galaxy), and ALEPH (Aleph.im).

Note that to benefit from Coinbase Earn you have to meet all its eligibility requirements, which include living in a country eligible for Coinbase Earn. The program is, therefore, available in selected countries.

## Binance 

Binance is another popular crypto exchange available in more than 140 countries globally. Like Coinbase, Binance allows users to earn free crypto through its Learn & Earn section.

In the [Learn and Earn section](https://www.binance.com/en/support/announcement/178888d976424c43baabd1b1c649e6ff), are instructional films and reading materials that enable users to learn about several crypto coins. Once you are done learning about a preferred crypto coin you will take a quiz to gauge your understanding of the coin. If you pass the quiz you get your free crypto coins.

It is worth noting that Binance’s learn and earn rewards are limited. Once they get depleted users can’t participate in the program any more.

## CoinMarketCap 

Coinmarketcap is a price-tracking website for crypto assets. The platform allows users to earn free crypto through its [Earn Crypto](https://coinmarketcap.com/earn/) page.

On the Earn Crypto page are lots of crypto coins including TRX (TRON), SXP (Solar), LIKE (Only1), and SAND (Sandbox) to learn and earn from. There are video tutorials and reading materials to help learn about the various coins. A quiz comes at the end. Once you pass the quiz you get your free crypto.

Coinmarketcap’s learn and earn program is also [limited to certain countries](https://coinmarketcap.com/earn/faq). Users from countries like Belarus, Cuba, Iraq, Iran, and Mainland China cannot participate in the program.

## Phemex 

Phemex is a crypto exchange and trading platform trusted by millions of users across the globe. The exchange has a Learn & earn page where users can earn free crypto.

On the Learn & Earn page users can familiarize themselves with basic crypto concepts and exchange features through watching short videos. After your learning session, you will take a quiz, which will determine whether you get your free crypto or not.

Phemex Learn & Earn program is limited to selected countries. The program is currently not available in India, Russia, Venezuela, Ukraine, and Indonesia among other countries.

## BitDegree  

BitDegree is an online education platform powered by blockchain. The platform has a LearnDrops page where people can learn about real-world crypto projects and earn crypto.

The process of earning free crypto through BitDegree’s LearnDrops is the same as other Learn to earn crypto programs. Once you watch a video about the crypto project you wish to learn about you will do a quiz. If you pass the quiz you get your free tokens.

## Bottom line

Learn to earn is one of the many ways various crypto projects are looking not only to survive but profit from the cryptospace. The program, while it might cost platforms a few coins offers them a lot in terms of traffic and coin adoption.

Listed above are only a few platforms that offer learn to earn crypto programs. Do your research and you will find more blockchain-based platforms that will allow you to earn free crypto by simply learning about a crypto coin, project, or topic you are interested in.

Learn to earn crypto

Under former South Korean president, Moon Jae-In, authorities ensure difficult procedures were in place to stifle and challenge the expanding South Korean crypto sector by subjecting exchanges to a time-consuming registration process.

Yoon Suk-Yeol, the new president of South Korea, took office in May, and he has promised to be very supportive of the cryptocurrency industry, giving new cryptocurrency projects the attention they need.

## Stringent but supportive crypto environment in South Korea

The new administration looks to follow the [regulatory model of other developed countries](/news/article/uk-crypto-exchange) to ensure there is consumer safety without stifling innovation.

The South Korean Ministry of Strategy and Finance recently announced that it would implement a gift tax that would affect the creation of airdropped tokens, staking rewards, and hard-forked assets.

Numerous citizens were taken aback by the news the as administration had initially planned to extend the tax on cryptocurrency until 2025. Accelerating the countries tax regulation plans shows sentiment towards driving standardization in the industry.

## Samsung to launch the South Korean crypto exchange in 2023

Due to the above mentioned more accommodative crypto environment is South Korea, traditional corporations have recently begun to take a more active interest in the cryptocurrency industry.

A new initiative by Samsung to build a cryptocurrency exchange in South Korea by 2023 was [announced by Bitcoin Magazine](https://www.coindesk.com/business/2022/08/22/seven-s-korean-brokerages-plan-to-start-crypto-exchanges-next-year-report/) on the 22nd of August.

According the [recent Coindesk report](https://www.coindesk.com/business/2022/08/22/seven-s-korean-brokerages-plan-to-start-crypto-exchanges-next-year-report/), approximately seven firms have formally submitted applications seeking primary authorization and are establishing corporations to manage an exchange. These platforms are anticipated to debut in the first half of 2023.

Two notable companies mentioned were Samsung Securities (a division of Samsung Futures Inc) and Mirae Asset Securities. 

Samsung Securities has been investigating the feasibility of entering the blockchain industry and the security tokens market, hence the plans of launching their exchange in the near future. Mirae has unveiled a new division called Mirae Consulting, which hires technical people to work on various cryptocurrency and Non-Fungible Token (NFT) initiatives. 

More blockchain based businesses are expected to be built in South Korea in the coming years, so keep your eyes peeled!



Samsung set to open crypto exchange in South Korea


[Eightcap](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article) is an Australian FX and CFD broker providing online crypto and shares trading services to a wide range of clients from around the world. 

The company was founded in 2009 and it has been expanding ever since. It is based in Melbourne, Australia, with five offices around the world. Eightcap is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of The Bahamas (SCB).

Users can enjoy the intuitive interface of the award-winning MT4 and MT5 platforms as well as automated trading capabilities and an advanced charting package. With functionality to integrate with TradingView for in-depth market analysis, compatible with signal sharing practices you will be sure not to miss a market beat!

## What makes using Eightcap such a bonus?

1)	Wide exposure to a multi-asset universe

The trading platform offers contracts for differences (CFDs) on more than 1000 financial instruments, including 350+ Australian, US, and European shares, 300+ crypto derivatives (including crypto crosses and crypto indices), 40+ major, minor and exotic currency pairs, the world’s largest stock indices, as well as commodities. 

2)	Award-winning customer service and educational resources

The Australian trading provider is best known for its excellent customer service. Clients get the support they require which is available 24 hours- 5 days a week. Eightcap’s support team is trusted by thousands of clients worldwide for being fast, reliable, and expertly trained to solve users’ queries. 

The CFD provider complements its offering with exclusive educational materials and insight from experts across the globe. 

Eightcap was awarded Best Forex Trading Support & Best Forex Educational Resources at the 2021 Global Forex Awards. 

3)	Ultra-low cost

Aside from the convenience that Eightcap offers to its clients, the broker has noteworthy pricing. The company’s ultra-low Forex spreads are five times lower than those of top Forex brokers (based on spreads data comparison with IC Markets Raw, XM, Pepperstone, IG Markets, OANDA, FxPro from January 2022 on [TradeProofer](https://tradeproofer.com/)). 

Furthermore, its crypto derivatives spreads are among the lowest on the market, starting from 12 p/coin for Bitcoin, 0.45 p/coin for Ethereum, 0.004 p/coin for Cardano, and 0.0002 p/coin for Dogecoin. The Australian CFD provider complements its offering with exclusive educational materials and insight from experts across the globe. 

## Other ways to earn

Eightcap’s award-winning [partner program](https://www.eightcap.partners/) is one that calls for a mention as well. CPAs up to $900 USD and rebates up to $6 USD per lot are but several of the rewards affiliates earn by partnering with the broker. 

## How to get started?

Go to [https://www.eightcap.com/en/](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article) and create an account. Verify your account in  the email you registered with. 

[![eightcap 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_1_5ab44b50b6.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)

It’s as easy as 1, 2, 3…

1)	Complete your personal details 

[![eightcap 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_2_d78b22e859.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)

2)	Set up your account

Choose your trading platform, account type, base currency and leverage

[![eightcap 3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_3_ab6c6be64d.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)
 
3)	Complete your declaration

[![eightcap 4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_4_cee9668ae5.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)
 
Last thing, you will be required to submit some essential documents
 
[![eightcap 5.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_5_a1d1a47173.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)

And you’re good to go!

## How to start trading?

Knowledge is power in the financial markets. Check out [Eightcap’s Trading Education](https://www.eightcap.com/en/education/) to start building a wealth of knowledge. This will guide you through fundamentals, trading strategies, MetaTrader Guides and how to trade. 

## Some great guide to start with are:

Platform-

•	[MT4 vs MT-which one is better](https://www.eightcap.com/en/education/metatrader-guides/mt4-vs-mt5-metatrader-platform-versions-compared-which-one-is-better/)

•	[How to install MT5 on Windows](https://www.eightcap.com/en/education/how-to-install-mt5-on-windows/)

•	[How to use the MT5 trading platform](https://www.eightcap.com/en/education/how-to-use-the-mt5-trading-platform/)

•	[How to trade cryptocurrency CFDs on MT5](https://www.eightcap.com/en/education/how-to-trade-cryptocurrency-cfds-on-mt5/)

•	[How to install MT4 on Windows](https://www.eightcap.com/en/education/metatrader-guides/download-install-login-mt4/)

•	[How to log in and sign out of MT4](https://www.eightcap.com/en/education/how-to-log-in-and-sign-out-of-mt4/)

•	[How to open and close trades in MT4](https://www.eightcap.com/en/education/metatrader-guides/how-to-open-and-close-trades-in-metatrader-4/)

•	[How to Buy and Sell On MT4](https://www.eightcap.com/en/education/buy-and-sell-on-mt4/) 

Educational-

•	[All you need to know about CFD accounts](https://www.eightcap.com/en/education/what-is-cfd-account/)

•	[How to start trading Bitcoin](https://www.eightcap.com/en/education/how-to-start-trading-bitcoin/)

•	[How to short sell Bitcoin and cryptocurrency CFDs](https://www.eightcap.com/en/education/how-to-short-sell-bitcoin-and-cryptocurrency-cfds/)

## Deposit and Withdrawals

Eightcap’s clients can choose from a variety of easy deposit methods. They can move funds in and out of their accounts in several currencies including crypto– USD, AUD, EUR, GBP, CAD, NZD, SGD, using debit or credit cards such as Mastercard/Visa, BTC, Tether, BPAY, China UnionPay (uPOP), Skrill, Neteller, PayPal, POLi, Worldpay, and Wire transfer.

## Bottom Line

If you’re looking for a CFD, FX and or crypto broker, Eightcap provides a trading platform with beginner to advanced functionality and wide ranging asset optionality at a market leading low cost. They have fantastic customer service and educational resources to support you throughout the peaks and troughs. Eightcap is the ideal platform to assist you in achieving alpha.


Eightcap Review- Beginners Guide

Rollbit provides a casino, crypto trading, and [NFTs](https://www.newsfilecorp.com/release/86084/NewAge-Crypto-Casino-Rollbit-Launches-Cryptocurrency-Trading) all on the same site. Find out all you need to know about how to get lucky with this lottery here!

## Bonuses for advancing in rank and level 

When users advance to the next level, they will receive around 12.5% of the house advantage for the wagering necessary. Plus, with each level advancement, users receive a fantastic gift! 

## The Rollbit boss 

The "Rollbit boss" is the person who has bet the most during the day by 00:00 UTC. This individual receives $5,000! 

## Cashback

Players will receive a 5% of the house advantage every Day, Weekly, and Monthly.

## Slots 

The casino has over 3,500 slots that players can select. 

## Classic games

Customers also have a rather large selection of games. Players can discover traditional blackjack and roulette. Other conventional games, including baccarat, are also accessible. 

## Games with a live dealer 

The exchange collaborates with leading game providers and offers a wide range of live dealer games. 

## Casino payment methods

Wagering will utilise cryptocurrency rather than fiat currency. 

## Deposits 

Users can fund their accounts in one of two methods. If you have Bitcoin, Ethereum, or Litecoin, you may deposit it and begin gambling upon receipt of the transfer to your Rollbit account. 

If customers don't already have any of those cryptocurrencies, they will need to acquire some to get started. Players can use VISA, MasterCard, Google Pay, or Apple Pay to pay. Users may also buy cryptocurrency at major exchanges or at their exchange partner, MoonPay. 

## Withdrawals 

Withdrawing monies is quite simple. Customers can withdraw their Bitcoin, Ethereum, or Litecoin. They may sell their crypto currency for fiat they desire after they have won it! Withdrawals are processed quickly, and there is no maximum withdrawal cap.

## Customer service

Customer care is available via live chat and email on the website. Both types of assistance offer quick response times and appear to be well-informed. The website also has a very comprehensive FAQ section. 

On May 10th, 2021, the company debuted its [cryptocurrency](https://finance.yahoo.com/news/age-crypto-casino-rollbit-launches-201500764.html) trading, allowing customers to wager on the price of Bitcoin and Ethereum. Dogecoin and Litecoin have recently joined the trading platform. 

The new cryptocurrency trading tool has several advantages over previous platforms, including the following: 

•	Zero-fee trading 

•	Up to x1000 leverage 

•	Automatic cashout

•	A community focus

Rollbit's NFT marketplace allows you to purchase NFTs without incurring costly Ethereum network fees. Users may experience the thrill of generating passive money from a popular sportsbook while qualifying for special incentives. The essential service provided by Rollbot NFTs is the ability for holders to establish Rollboxes and receive a return on the NFTs they risk. 

Rollbit offers a fantastic website, a large game selection, a cryptocurrency trading functionality, an [NFT](/news/category/nft-news) collection, and exceptional customer support. This casino also has a complete license, ensuring the user's money is safe and secure.



Review of Rollbit casino games and exchange

Multisig is a type of crypto wallet that uses multi-signature technology to store and secure cryptocurrencies. It requires more than one person to sign off on any transaction before it can be executed, thus considered highly secure.

Let’s dig in and explore everything you need to know about it.

## RIF Multisig 

The [RIF Multisig wallet](https://www.rifos.org/blog/multisig-the-rsk-way) is a crypto storage solution for the RSK community and the Bitcoin DeFi ecosystem. It provides a secure place to store RIF tokens; utility tokens of the RSK network.

RSK is a smart contract network that is a sidechain of the [Bitcoin](/coins/btc) blockchain. It allows developers to create Defi protocols, NFTs, and other digital assets using the Bitcoin blockchain. As a sidechain, RSK also helps increase the scalability of the Bitcoin blockchain.

## Benefits 

There many benefits to using Multisig for crypto storage. Firstly, the wallet is hard to hack. Because it requires more than one private key to use, easily accessing all the required private keys is not easy for any hacker.

It also eliminates dependency on one device or party. Private keys can be saved on different devices to easily provide access to stored funds. In case something happens to one of the users, other users are not locked out of accessing their funds.

## Downsides

A major disadvantage of Multisig is slow transaction speeds. Because more signatures are involved, transactions may take longer. 

## How to set up 

To set up your wallet you will require two or more devices that support the RIF protocol. Each device, a computer, for example, will need to have a copy of the RIF token. 

On each computer generate a seed phrase. You will need the seed phrase to generate a master key that will enable you to generate the addresses.

Once you’ve generated the seed phrase the next step is to create a wallet on each computer. Open the multi-sig software and click on the “Create” button. Fill in all the required information including the number of computers you have.

Once you are done, you will be given a list of addresses you can send tokens to. The next step is to generate a Multi-sig address. 

Open the Multisig software and click on the "Create Multi-Sig address" button. Fill in the required information including the number of computers you have, the addresses you just created, and the name of the Multi-sig address.

After generating the Multi-sig address you will get instructions that will help you send tokens to the address. You can now send and receive crypto.

## Bottom line

The RIF Multisig is considered one of the best ways to securely store crypto online. The wallet, while still new in the crypto space offers a lot of benefits. It not only eliminates a single point of failure but also eliminates the dependency on a single device or user.






RIF Multisig Wallet Explained

The Federal Reserve has made it easier for progressive financial organizations to access their master accounts and participate in the international monetary system. This appears to be a step towards the [US Federal Reserve granting crypto banks direct access to the Fed's funds](https://99bitcoins.com/bitcoin-news-summary-aug-22-2022/), eliminating the need for these institutions to work with traditional financial intermediaries.

## U.S. Federal Reserve eases access to central banking for crypto banks

The U.S. Federal Reserve announced it would release the final rules governing how [alternative financial institutions](/news/article/crypto-friendly-banks-uk) may gain access to its "master accounts," which are required to participate in the international monetary system.

The Federal Reserve seems to be moving closer to providing Wyoming's special purpose depository institutions (SPDIs) like Custodia (previously Avanti) and Kraken Bank access to these accounts, eliminating the need for intermediate banks. In 2017, the Fed initiated the guidance proposal process by issuing a request for comments.

After almost 300 people commented, the second round of public feedback was held earlier this year. Fed Vice Chair Lael Brainard released a statement in which she said, "The new guidelines establish a consistent and transparent process to consider requests for Federal Reserve accounts and access to payment services to ensure a safe, inclusive, and creative payment system."

[The new regulations are essentially in line with proposals from 2021](https://www.coindesk.com/policy/2022/08/15/us-fed-opens-pathway-for-crypto-banks-to-tap-central-banking-system/), which will establish a tiered approach that will allow the Fed to tailor its vetting process for providing access based on the type of financial institution making the request. There is a progressively more thorough evaluation procedure at each tier.

The recommendations would make Tier 1 banks eligible for FDIC insurance. "Subject to prudential supervision by a federal banking regulator," but not "federally insured." Companies in the third tier are "not federally insured and nor subject to prudential supervision by a federal banking institution," which describes the Wyoming crypto banks.

The Fed received feedback after issuing its initial proposed guideline in 2021 and its modified the guidance earlier this year, as stated in the press release.

Many comments suggested that the Proposed Guidelines make it more difficult for institutions with unusual charters to open accounts and use services.

Regardless of the institution's operations, many commenters felt that the Proposed Guidelines should hold all financial institutions and crypto banks to the same standards as federally insured depository institutions.
 


Central banking access eases for crypto banks

The proposed Australian crypto regulation plan unveils the world's first token mapping of digital assets, ranging from Bitcoin to [Dogecoin](/coins/doge), as an audit procedure to accelerate the regulatory framework for its crypto ecosystem. Token mapping is the process of determining the characteristics of all available digital tokens in the country.

## Australian crypto regulation to implement token mapping

According to Treasurer Jim Chalmers, Australia is seeing increased crypto activities and advertisements. Token mapping will allow the government to identify the characteristics of digital currencies used within the jurisdiction and develop a better regulatory strategy for them.

"As it stands, the crypto sector is largely unregulated- we need to do some work to get the balance right, so we can embrace new and innovative technologies while safeguarding consumers," he stated.

In addition to prioritising token mapping this year, the Australian government plans to review the country's current regulatory and licensing frameworks for service providers. They also intend to review the custody requirements for digital asset custodians to ensure local users' safety.

Jim Chalmers stated: "With the increasingly widespread proliferation of crypto ¬assets- to the extent that crypto advertisements can be seen plastered all over big sporting events- we need to make sure customers engaging with crypto are adequately informed and protected."

## Cryptocurrency adoption in Australia

Australia is one of the crypto-friendly jurisdictions where the adoption and ownership of digital assets has been skyrocketing. Digital currency adoption in the country increased by more than 56% between 2022 and 2021, according to a [Banklesstimes report](https://www.banklesstimes.com/cryptocurrency/cryptocurrency-adoption-statistics-in-australia/). According to a Finder.com report, more than 22% of Australians own digital currency, which is higher than the global average of 15%.

Australia's central bank launched a one-year pilot programme for its digital currency earlier this month to assess the business benefits and potential drawbacks of launching a CBDC.



Australia's crypto regulation plan explained

Seed funding worth $9 million has been raised at the startup crypto exchange [Rocketplace](https://rocketplace.com/). It is a US-based startup looking to enter the digital asset management space. The firm aims to allow investors to do commission-free cryptocurrency trading. It is currently dealing with over 30 different tokens on which it charges 0% commission.

Recently, the company started a financing round in which it was able to secure a $9m in its seed funding round. It is quite remarkable as the market is going through a bear run, and cryptocurrencies are rapidly losing their value. Moreover, many digital asset companies like Celcius and Voyager have filed for bankruptcy. 

Earlier, one of the leading decentralised cloud computing networks, Cudos, concluded its series of funding rounds and secured over [£10 million](/news/article/cudos-funding-over-10-million). 

## Rocketplace plans to grow its crypto offering with seed funds

Ben Hutchinson and Louis Beryl, who are the co-founders of Rocketplace, will mainly focus on fund management and distribution. They believe that cryptocurrencies are likely to see an explosion of new projects. And in this scenario, services related to administering and distributing funds will be in high demand. 

Also, Louis Beryl mentioned that their distribution model will also be in full compliance with regulations. It will educate investors to comprehend the regulations to correctly follow them. This is why they claim ‘to not just be another exchange’.

## How did Rocketplace secure the seed fund crypto?

As of now, Rocketplace is only a 10-member company, having two experienced co-founders. Both Hutchinson and Beryl have been in the industry for a long period. They have worked with firms like Earnest, Y Combinator, a16z, and SolidEnergy Systems. Their reputation of prior experience and expertise allowed the startup to secure substantial funding in the seed round. 

It acquired financing from renowned firms like Accomplice, TTV, Soma Capital, and Menlo Ventures. Moreover, throughout the funding round, Launchpad Capital was the lead investor for the firm. 



Rocketplace crypto exchange lands $9m seed funding

After the launch of RippleNet's On-Demand Liquidity (ODL) with foreign exchange provider Travelex, Ripple's XRP token will be used to facilitate fast and low-cost cross-border transactions in Brazil.

On 18 August 2022, Ripple announced that the foreign exchange company Travelex currency services would use RippleNet's ODL to facilitate XRP-based cross-border payments between businesses.

Furthermore, Travelex Bank was cited as the first Brazilian financial institution authorized to deal solely in foreign exchange by the country's Apex bank. [Ripple](/news/article/xrp-case-price-uk) claims this is the first time a Latin American bank has used ODL.

However, other Latin American businesses like Banco Rendimento, Remessa Online, Frente Corretora, and Banco Topazio have used RippleNet services. For now, Travelex will only facilitate these payments between Brazil and Mexico.

Still, the company has plans to expand into other countries in the region and develop additional use cases tailored to the requirements of businesses.

## Travelex currency services and Ripple targeting the Brazilian market

News of the development follows the April 2022 passage of Brazil's first "Bitcoin law," which sought to establish a regulatory framework for treating virtual currencies. The Brazilian central bank is also launching a digital currency (CBDC).

However, economist Fabio Araujo believes that the CBDC "will be able to halt bank runs and impose other restrictions on citizens' access to money," even though this decision has been met with much opposition.

Brazil's adoption of a crypto-friendly regulatory framework and rising institutional interest in digital asset solutions make it a great fit for the ODL, [according to Ripple CEO Brad Garlinghouse](https://cointelegraph.com/news/ripple-partners-with-travelex-to-launch-enterprise-crypto-payment-service-in-brazil). Ripple sees Brazil as a crucial market because of the country's strategic location as a hub for Latin American trade, its tolerance of cryptocurrencies, and the government's efforts to foster the development of the fintech industry on a national scale.

For this reason, there has been a flurry of activity in the market as institutions rush to adopt crypto and blockchain technology to address customer concerns.

Travelex currency services adoption of the ODL service will greatly improve the efficacy of cross-border payments, which currently total over $780 billion per year and are directed to Brazil,  according to Garlinghouse.

We've always emphasized creating solutions that have real-world value. We're thrilled to work with a forward-thinking partner like Travelex Bank to facilitate faster and more secure money transfers in Brazil.


Travelex currency services partner with Ripple

Bitex Bitcoin provides a mobile and online platform for investing and trading in digital assets and a matching engine capable of processing up to 1 million transactions per second. The exchange also provides charting tools, order books, trade options, and a derivatives platform with quarterly futures contracts and margin trading. 

[Bitex Bitcoin](https://www.financialexpress.com/market/crypto-exchange-bitex-begins-providing-cryptocurrency-investment-disclosure-following-govt-mandate/2236916/), which was established in 2014, in Buenos Aires, Argentina, also provides financial services. Customers benefit from the company's services for cross-border payments, payroll, and billing clients overseas at the lowest possible cost, time, and effort. 

Bitex does not allow U.S. investors to trade on its exchange for foreign exchange control reasons.

In terms of the trading view on the bitex Bitcoin platform, it is similar to other brokerages.

On the [bitex platform's landing page](https://www.bitex.la/) on 10 June 2019, the price chart below displays the volume and the highest bid and ask prices. It displays the order book, or at least a part of it, and a price chart of the selected cryptocurrency and order history. There also two conveniently located  buy and sell boxes. 

![bitex.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/bitex_80029db772.png)


The Bitex trading platform offers a lot more than simply placing orders. For professionals, it provides complex charting and financial indicators. 

Users may also place spot and limit orders on all available trading pairs on Bitex for [Bitcoin](/coins/btc) and use the pre-existing 10+ indicators to customise charts to match their trading needs.

## Trading Fees of Bitcoin on Bitex 

Bitex charges a flat 0.50 % trading fee regardless of whether investors are makers or takers. This trading cost approach may appeal to investors who want to pick up existing orders from the order book. 

Bitex's flat trading costs of 0.50 % are higher than the industry average of 0.25%. In addition to trading costs, there is an annual 0.50 % "custody charge," regardless of trading activity or lack thereof.

## Bitex- withdrawal and deposit fees

Bitex withdrawal costs for Bitcoin are 0.0004 BTC. Wire transfers is available however credit cards are not. As a result, their withdrawal costs are reasonable.

## Bitex technology and security 

To stop the rise in fraud, the Bitex Bitcoin exchange platform utilises cutting-edge technology and the best development methods. In order to protect user privacy, all identity papers supplied to the exchange are securely kept in a remote database using the most robust encryption standards. Furthermore, to guarantee a secure experience, Bitex deploys various security methods such as 2FA, email verification, I.P. filtering, mobile verification, and manually verifying anomalous account activity and transactions. 








How Bitcoin is traded on the Bitex Bitcoin

[Monochrome](https://monochrome.co/), a capital growth fund, has been granted an Australian financial services licence (AFSL). It has become the first crypto firm in the country to secure approval. Now, Monochrome can expand its services by offering [Bitcoin spot Exchange-traded Fund](/news/article/btc-etf-approval) (ETF) in Australia. 

Former Binance Australia CEO Jeff Yew established Monochrome in 2021. Since February, the firm has been working on the crypto Exchange-traded fund. For this, they partnered up with the [Vasco Trustees](https://vascofm.com/), which helped the firm to get the licensing from the country’s authorities. The Australian Securities and Investments Commission (ASIC) granted permission for Monochrome to launch the crypto spot exchange traded fund. 
 
## The first AFSL-approved crypto ETF Australia

Monochrome crypto ETF will be the first AFSL-approved one in the country. Though the Australian ETF market is quite saturated, no asset managers are dealing with cryptocurrencies directly. Most fund managers operate as general financial asset managers and do not offer digital assets directly. Also, these firms are only compliant with the regions financial regulations to offer a crypto based product.

With Monochrome receiving an Australian financial services licence. This will allow it to offer a crypto spot ETF in the publicly traded and regulated Australian financial market, making it the first exchange to achieve it.  

## Jeff Yew on the AFSL approval

While sharing his views on the approval, Monochrome’s CEO said it is a significant move that will introduce direct dealings with the cryptocurrencies in the country. He also mentioned that their fund will be a secure option for the investors as it will work within the ASIC’s regulations. 

Moreover, Jeff Yew disclosed that the investors can not only deal with Bitcoin but can also invest in other cryptocurrencies like Ethereum (ETH), Binance coin (BNB), and others. 

The final date for the Bitcoin spot ETF Australia launch is not yet finalised. However, it is has been said that it is likely to be launched next month. This move will give crypto trading exposure to the Australian market with substantial transparency and security.
 



Monochrome to offer crypto spot ETFs in Australia

Ukrainian Deputy Prime Minister revealed that the crypto community had contributed [$54 million in crypto funds](https://cointelegraph.com/news/aid-for-ukraine-s-54m-crypto-fund-buys-vests-scopes-and-uavs) through "Aid For Ukraine" initiative to support the country's military efforts against Russia.

On Thursday, Ukrainian Deputy Prime Minister Mykhailo Fedorov's disclosed via his Twitter post that the $54M was channeled through the Ukrainian government-run initiative "Aid For Ukraine."

The crypto fund initiative operates by transferring cryptocurrency to the crypto exchange FTX, which converts cryptocurrency into fiat currency, which is then withdrawn and transferred to the National Bank of Ukraine.

## Funding received and its usage by Ukraine

According to Ukrainian Ministry of Digital Transformation, the initiative received $54 million in the form of 595 [Bitcoin](/coins/btc) worth $13.9M, 10,190 Ether worth $18.7M, USD Coin worth $2.2M, and Tether worth $10.4M.

The cryptocurrency payments have gone toward military equipment, hardware, and munitions, including unmanned aerial vehicles (UAVs) worth $11.8 million, which are typically used to locate enemy troops and targeted attacks.

Among other army and medical accessories, the donations also included $6.9M for armour vests, $3.8M for field rations, $5.2M for anti-war media drive, and $5M for "weapons of the Ministry of Defense request.”

"Crypto is playing a critical role in Ukraine's defence," said Deputy Minister of Digital Transformation Alex Bornyakov on the government-affiliated donation website.

Founder of the Ukrainian crypto exchange KUNA Mike Chobanian added that the crypto community's contributions had demonstrated blockchain technology's influence on nation-states, claiming that it can serve as a "backbone of global security" in times of crisis.

However, the Aid For Ukraine crypto fund is not the only campaign raising funds to support Ukrainian defence efforts. The Reserve Fund of Ukraine, Come Back Alive, UkraineDAO, and Unchain Fund have also contributed funds in the seven-figure range. However, the amount of cryptocurrency-based funds they've received hasn't been disclosed since March 2022.



Crypto has funded $54M to Aid for Ukraine

## Chainalysis crypto scam report

According to a Chainalysis report released on Tuesday 16 August 2022, the research suggests that total crypto scam revenue is presently resting at $1.6 billion, a [65% decrease from the prior year period](https://blog.chainalysis.com/reports/crypto-crime-midyear-update-2022/), which appears correlated to the market average of falling cryptocurrency prices. 

The report points out that speculative investment opportunities and outsized profits appeal most to victims during bull markets and that traders more likely to fall for crypto scams. Bull markets also have a larger percentage of new, novice crypto investors who are more vulnerable to scams. 

The numbers in the report are admittedly biased in the report because of the comparably massive PlusToken and Finiko cases in 2021, which generated $3.5 billion in total scam income. According to reports, the most significant fraud case of 2022 has only garnered $273 million to the cannabis investing portal JuicyFields.io, which has locked investors out of their accounts on its cannabis-focused "e-growing" service. 

On the other hand, crypto-based hacking has defied the trend, jumping 58.3% to $1.9 billion through July 2022, excluding the [$190 million Nomad bridge attack](/news/article/nomad-crypto-hack) that began on August 1st. This value increase is primarily due to the emergence of decentralised apps, [which surged in 2021](https://blog.chainalysis.com/reports/2022-defi-hacks/).

According to the research, a significant concentration of these hackers originated from North Korean elite cyber organisations such as Lazarus Group, with these entities accounting for over half of the crypto seized.

## Crypto scams are not entirely a bad thing

Due to smart contract programming languages like Solidity are relatively new, the fraud cases are not terrible as these vulnerabilities can improve security by allowing code audits. The crypto brand has suffered due to  bad actors leaving investors feel that there is no security, but through learning the hard way from these mistakes we hope that industry participants will build the crypto ecosystem back better. 

The report also stated that darknet market income is down 43% in 2022; dark web black markets provide illegal products and services, typically utilising cryptocurrency as payment.


Crypto scams are falling as victim investors exit 


A leading cryptocurrency exchange, [Crypto.com](https://crypto.com/) gets authorisation to operate in the United Kingdom. The country’s Financial Conduct Authority (FCA) provided the registration, in which the Crypto.com news announced on Wednesday. This will allow the firm to expand its crypto asset business throughout the UK as per the country’s regulations. 

Co-Founder and CEO of the firm, Kris Marszalek, shared his views on the confirmation and declared it a ‘significant milestone’ for the exchange. He believes that as the UK is looking to become a [global crypto hub](/news/article/cryptocurrency-investment-uk), expanding the firms crypto services to the region at this time would benefit them. He also showed his commitment to cooperating with the FCA regulations in order to strike the balance of regulation and innovation.

## Crypto.com news: Exchange to trade under FORIS DAX UK LIMITED

Other Crypto.com news suggests that the exchange might not work with this name in the UK. However, the FCA has listed a company under the name FORIS DAX UK LIMITED with the authorisation for certain crypto asset activities. It will also follow anti-money laundering and terrorism financing regulations in the country. 

Under the FCA registered trading name, the platform can offer services including exchanging one digital token for another or exchanging digital token for fiat money or vice-versa. 

Apart from that, FCA is also maintaining a [list of unregistered businesses](https://register.fca.org.uk/s/search?predefined=U) involved in digital assets trading. Along with 248 other names, CryptoCOM is also on the list. Mainly, the FCA has not authorised these companies as they fail to comply with the money laundering regulations.

## Significant regulatory approvals for Crypto.com

In August, the exchange was able to secure significant regulatory approvals. Though the FCA approval is the most recent one for the firm. Crypto.com has been regularised by Canada’s Ontario Securities Commission (OSC) and Cayman Islands’ monetary authority. Canada’s OSC approved a pre-registration undertaking from the firm on 15 August. Cayman Islands’ authorities also accepted the exchange as a virtual asset service provider on 11 August.  





Crypto.com news: The exchange gets UK approval

The Cyprus Securities and Exchange Commission (CYSEC) has given digital banking firm Revolut permission to offer cryptocurrency services throughout the European Economic Area (EEA).

A fresh report claims that Revolut has been granted cryptocurrency-asset service provider (CASP) status by the island nation's governing body. The company has been on a hiring binge lately, despite the sluggish economy.

## Acceptance of crypto in Cyprus

The new license will allow the business to serve its 17 million European Economic Area customers from its newly established crypto center in Cyprus. After looking into various EU nations, Revolut ultimately decided on Cyprus as its base of operations.

[Famous exchanges including eToro](/news/article/etoro-fees), Crypto.Com, CMC Markets, and Bitpanda all call the country home. The app's representative said that the latest action was due to the sophisticated and tough regulatory regime of the CYSEC agency. He added also that "We heartily accept the European Parliament's clear goal to foster innovation while mandating robust customer protection safeguards to avoid any form of market abuse, and we applaud the new EU-wide law.

Revolut has obtained a license from the Central Bank of Spain and the Monetary Authority of Singapore, in addition to Cyprus (MAS). Over the next six months, the British fintech firm plans to increase the number of employees by 20% across the United Kingdom, the United States, and Europe. In previous Revolute news, the company has hired an additional 43 people so far this year. 

After over two years of debate, the Markets in Crypto Assets (MiCA) framework will be implemented by the end of 2023. It's a key component of the European Union's plan for the future of digital money.

To this end, MiCA seeks to establish a solid legal framework for the digital assets under its purview that have been excluded from the scope of existing financial services legislation in order to guarantee legal certainty.

It will aim to safeguard market players from the dangers connected with digital assets while also encouraging innovation and level playing fields. In addition, it will deal with threats to economic security.


Revolut News: Bank approved to offer crypto in EEA