The richest country in Europe is coming round to crypto. That’s according to a report by KuCoin which shared some flattering statistics towards the future of crypto in Deutschland.
Notably, 44% of Germans are “motivated to invest in cryptocurrencies to be a part of ‘the future of finance’”; while over a third, “37% of German crypto investors have been trading cryptocurrencies for over a year.”
Cointelegraph had previously picked up on crypto’s impressive and productive year in Germany, but it’s crucial to check the crypto sentiment on the ground.
Johnny Lyu, CEO of KuCoin–the company publishing the report–explained to Cointelegraph the state of play of Germany crypto investors:
"Cryptocurrencies are very popular among the supporters of the accumulation strategy, especially among the younger generation. They prefer to save for retirement on their own and diversify their savings through the use of cryptocurrencies."
Lyu caveats that “despite the high demand for cryptocurrencies among Germans, the country does not yet have specific regulations that unequivocally regulate the use of digital money.”
Indeed, while Germany was the first country “to recognize that Bitcoins are ‘units of value’ and could be classified as a ‘financial instrument,’” according to the report. So far the local regulator has merely had "some success in regulating crypto."
However, Germany was the first country worldwide to adopt a blockchain strategy and interestingly, Germany’s political position relative to cryptocurrencies came up for discussion during recent parliamentary elections.
The Central Bank of Honduras, or BCH, addressed rumors regarding the country potentially adopting Bitcoin (BTC) as legal tender like its neighbor El Salvador — and the answer seems to be negative.
In a Wednesday statement, Honduras‘ central bank said, “for the time being,” that Bitcoin was not regulated in the country and not recognized as legal tender in many others. The BCH reiterated its authority under Honduras‘ constitution that it was the only authorized “issuer of banknotes and coins” considered to be legal tender in the country.
“BCH does not supervise or guarantee operations carried out with cryptocurrencies as means of payment,” according to a translated statement by the central bank. “Any transaction carried out with these types of virtual assets is the responsibility and risk of those who do it.”
The central bank added it was continuing to study “with the conceptual, technical and legal analysis” the feasibility of introducing a central bank digital currency, or CBDC, in Honduras. The BCH said a CBDC would be considered legal tender in the country and regulated accordingly.
Several news sources reported this week that Honduran President Xiomara Castro was considering recognizing BTC as legal tender. El Salvador, which borders Honduras to the west, adopted the crypto asset as legal tender in September 2021 and has since planned to construct a $1-billion “Bitcoin City” with crypto mining operations powered by geothermal energy from the country’s volcanoes.
Legendary boxing champion Floyd Mayweather is taking another jab at the crypto space by launching a new NFT and Metaverse project called the Mayweverse.
The nonfungible tokens (NFT) will feature the likeness of Mayweather himself and provide various utilities and prizes for holders depending on the rarity of the item. Little more is known about the project at the time of writing other than that the Metaverse will contain a boxing gym.
After many months of hard work
I’m launching my new NFT Project @mayweverse⁰
The collection will have 5,000 NFTs (5 different NFTs cards of 1,000 each).
Each card has a different rarity, utilities & prizes.
More information on the roadmap will be announced soon.
Stay Tuned pic.twitter.com/SxZ916p0HP March 21, 2022
The launch date and prices is yet been determined, but the hype for the project is growing rapidly. The Discord channel dedicated to the project already has over 5,000 members.
Mayweather’s involvement in this new NFT project is notable considering his sub-par record with crypto projects in the past. Mayweather promoted a high-profile crypto scam called Centra Tech which defrauded investors out of over $25 million in 2018. By 2019, Mayweather and co-promoter DJ Khaled were forced to pay $600,000 and $150,000 respectively for their parts in marketing the project.
Twitter personality Coffeezilla claimed that Mayweather is now “frantically deleting evidence of his last NFT scam,” in order to appear to be in good faith for the Mayweverse launch. Other projects he has promoted include Floyd NFT, Bored Bunny, and Bored BAD Bunny.
Floyd Mayweather is frantically deleting evidence of his last NFT scam.He's getting roasted by the investors. https://t.co/HXUzCWi6sW pic.twitter.com/AQ92nxIhtz March 22, 2022
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