North America
Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.
The United States
Utah’s Lawmakers Make Efforts to Encourage Blockchain Growth: In order to exempt blockchain firms from the application of Money Transmitters Act, a bill has been pushed by Utah’s lawmakers. The bill is presented to encourage the growth of crypto sector in Utah.
As per the act, a money transmitter license has to be obtained by any firm issuing payment instruments to be put up for sale. Bill no. 213 was filed in the Senate by Daniel Hemmert (Republican senator) to exempt digital currencies from obtaining the said license. It is yet unclear what kind of backing this latest pro-crypto bill will have in the state’s legislature and things will become clearer once the debate starts on the floor.
Kroger to Drop Visa Credit Card Payment Option: Kroger will stop accepting Visa credit card payments from next month, reports the media. The largest supermarket chain in the US, with 108 fuel center locations and 142 supermarkets, cited “excessive transition fees” as the reason to drop credit card payments. However, Kroger has not announced any alternative payment method. According to rumors, the company is considering Bitcoin (BTC) as a replacement due to the cryptocurrency’s universal appeal.
Anthony Pompliano, Morgan Creek Digital partner, has purportedly suggested Kroger Digital representatives use BTC as an alternative option. However, the company itself has not spoken on the matter and we await further details on it.
Philadelphia to Facilitate Cash Payments Along With New Jersey and Massachusetts: After the states of New Jersey and Massachusetts, Philadelphia has now announced the introduction of new laws for the utilization of cash in retail stores. The move is expected to affect the adoption of a cashless future in the state as it may slow down its pace.
From July 2019 onwards, Philly retailers will be required to accept cash as payment. The city has decided to facilitate residents who do not own a debit or credit card. Previously, New Jersey announced a ban on all cashless stores in order to keep cash in circulation.
However, the decision has raised considerable questions regarding digital currency adoption in the state. In case cash payments become a widespread phenomenon, it may negatively affect the appeal of cryptocurrencies but the state may change its stance because of the pressure from companies for a more cashless future.
Bahamas
Bahamas Central Bank Announces Collaborators for Its Digital Currency Project: With the aim of developing a virtual fiat currency system for the Bahamas, the country’s Central Bank has announced its collaborating members, noted an official document.
As per the document, NZIA.io (transaction provider) and Zynesis (software development firm offering blockchain solutions) will join the project, which is named as “Project Sand Dollar”.
The project will deal with reducing service delivery and cash transaction costs. Moreover, the overall operational efficiency of the financial system will be enhanced. Digital currency will integrate communities across the Bahamas (currently lacking a proper banking system) into the financial system.
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