WAO ART

Ethiopia's birr has fallen 30% against the U.S. dollar after the central bank floated the currency, moving away from a fixed exchange rate. The National Bank of Ethiopia (NBE) scrapped foreign exchange surrender requirements and lifted import restrictions as part of macroeconomic reforms.

Brazil is set to launch "Drex," an AI-powered central bank digital currency (CBDC) super app by 2025, aiming to revolutionize digital finance. The app will integrate AI to provide personalized financial solutions, enhancing user experience and offering services like payments, savings, loans, and investments.

The US Government has transferred 29,800 BTC from its Silk Road confiscated stash, valued at over $2B. This significant transfer is causing ripples in the cryptocurrency market, raising concerns among investors. The transfer was linked to a specific wallet labeled “U.S. Government: Silk Road DOJ Confiscated Funds.

DigitalX has launched the DigitalX Bitcoin ETF (BTXX) in Australia, approved for listing on the ASX on July 9, 2024. Coinbase has been selected as the custody provider for the BTXX, leveraging its extensive experience in safeguarding digital assets.

Swiss FINMA published Guidance 06/2024 on stablecoins, detailing their classification, AML regulations, and banking requirements. FINMA classifies stablecoins as either banking deposits or collective investment schemes (CIS) based on who bears the risk of underlying assets.

Solana has flipped Binance Coin in market capitalization, becoming the fourth largest cryptocurrency with a price surge to $194.34. Solana's protocol fees have surpassed those of Binance Smart Chain, with top validators like JitoSOL generating significant revenue, contributing to over $280M in fees for H1 2024.

Hong Kong lawmaker Johnny Ng advocates for considering a Bitcoin strategic reserve, inspired by comments from US presidential candidates. Ng highlights the growing global acceptance of Bitcoin, referring to it as "digital gold" and suggesting research into its inclusion in financial reserves.