News updates December 2, 2021

1. Bank of America: The Metaverse Is a Massive Opportunity for The Crypto Industry

Haim Israel – a strategist at Bank of America – believes the metaverse will create huge opportunities for blockchain technology. It will also cause digital assets to start being employed widely for financial transactions.

2. Facebook retreats from crypto ad ban

Facebook on Wednesday announced its decision to reverse long-standing policy that prevented most cryptocurrency companies from running ads on its services.

The move comes after the company tried and failed to launch a cryptocurrency that was intended to send money easily across the world via the company’s services.

The company’s new policy is huge for the crypto industry and will allow more retail investors to access cryptocurrencies than ever before.

3. Wyoming Senator says Fed is violating the law with blockchain bank delays

Senator for Wyoming Cynthia Lummis has claimed that the Federal Reserve is violating the law by postponing the processing of applications from crypto-native banks to receive accounts at the central bank.

4. Indian Finance Minister Reveals Crypto Bill Had to Be Reworked Before Submitting to Cabinet

India’s finance minister, Nirmala Sitharaman, has revealed that the previous version of the cryptocurrency bill the government is pushing needed to be reworked. “This bill, once the Cabinet clears, will come into the House,” the finance minister told the Rajya Sabha, the upper house of India’s parliament yesterday.