Daily Digest - 7 March 2023

Headlines

▌Informed sources: Amazon will launch the NFT platform on April 24

Amazon will launch the NFT platform on April 24, and plans to make it available on the Amazon website through the "Amazon Digital Marketplace" tab, initially only available in the United States, and will gradually open to other parts of the world including Europe. As previously reported, sources said that Amazon is launching a digital asset business and is expected to launch an NFT program in the spring, with a focus on blockchain-based games and related NFT applications. Possible use cases include letting Amazon’s customers play encrypted games and getting a free NFT in the process.

Policies

▌The Bank of International Settlements develops cross-border retail CBDC payment system

A cross-border system connecting central bank digital currencies could allow for cheaper and safer global payments, according to a report published by the Bank of International Settlements. The Basel-based bank for central banks’ Innovation Hub, in cooperation with the central banks of Israel, Norway and Sweden, has wrapped up “Project Icebreaker” to find solutions for DLT-based cross-border transactions. The project “first allows central banks to have almost full autonomy” when designing their consumer-facing digital currencies before providing a “model for that same CBDC to be used for international payments,” said Cecilia Skingsley, who leads the BIS Innovation Hub, in the report.

Cryptocurrency

▌Mastercard Launches Bitcoin Card in EU and UK

Bitcoin Magazine posted on social media that Mastercard launched Bitcoin cards in the EU and the UK.

▌Crypto scam in Egypt defrauds thousands of investors

Citing Egyptian state media reports: an online cryptocurrency scam in Egypt defrauded thousands of investors from about $620,000. Authorities arrested 29 people, including 13 foreign nationals, in connection with the fraudulent platform dubbed "HoggPool." The scheme, which first appeared in Egypt in August, promised investors huge profits from cryptocurrency mining and trading. In 2018, Egypt banned cryptocurrency trading under Islamic law. While the religious decree is not legally binding, a de facto ban has been imposed thanks to the prohibitive banking laws introduced in 2020.

▌U.S. Senator Hagerty: Will discuss interest rates and cryptocurrencies with Powell at the hearing

U.S. Republican Senator Hagerty said that he will discuss interest rates and cryptocurrencies with Powell at the hearing. Note: Federal Reserve Chairman Powell will attend the hearings of the Senate and the House of Representatives at 23:00 on March 7th and 8th, Beijing time, and make speeches.