Lulo Invest Newsletter #7

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Welcome to Lulo Newsletter #7

Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning

The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success.

cointelegraph.com/news/zimbabwe-sells-gold-backed-crypto-tokens/amp

Ripple Buys Crypto Custody Firm Metaco for $250M

Metaco will continue to operate as an independent business unit led by CEO and founder Adrien Treccani.

www.coindesk.com/business/2023/05/17/ripple-buys-crypto-custody-firm-metaco-for-250m/?outputType=amp

Regulate Crypto as Gambling, U.K. Lawmakers Suggest

A Parliamentary committee says regulating retail investor activity in crypto as a financial service would lead consumers to believe trading is safer than it is.

www.barrons.com/amp/articles/crypto-regulation-gambling-451c88f2

G7 pushes accelerating global implementation of ‘Travel Rule’ for crypto assets

G7 members met in Niigata, Japan, ahead of the 2023 summit in Hiroshima to discuss Ukraine, CBDCs, and cryptocurrency regulations.

cointelegraph.com/news/g7-pushes-accelerating-global-implementation-of-travel-rule-for-crypto-assets

Elizabeth Warren’s Bill Won’t Stop Money Laundering, But it Could Ban Crypto

The Digital Asset Anti-Money Laundering Act that Senators Elizabeth Warren and Roger Marshall are pushing through Congress is the legislative equivalent of a Trojan Horse, writes John Rizzo. It would effectively ban crypto in the guise of fighting money laundering.

www.coindesk.com/consensus-magazine/2023/05/18/elizabeth-warrens-bill-wont-stop-money-laundering-but-it-could-ban-crypto

Pakistan Announces Fresh Ban on Crypto, but Adoption as a Hedge Remains Popular

Cryptocurrencies will “never be legalized in Pakistan,” said Minister of State for Finance and Revenue Aisha Ghaus Pasha.

www.coindesk.com/policy/2023/05/18/pakistan-announces-fresh-ban-on-crypto-but-adoption-as-a-hedge-remains-popular

Westpac bans transfers to world’s largest crypto exchange Binance

Bank customers can no longer make payments to the cryptocurrency exchange, in a move to reduce scams

www.theguardian.com/business/2023/may/18/westpac-bans-transfers-to-worlds-largest-crypto-exchange-binance

Ripple Starts Platform for Central Banks to Issue Their CBDCs

The firm will also showcase a real estate tokenization product as part of Hong Kong Monetary Authority's e-HKD pilot.

www.coindesk.com/policy/2023/05/18/ripple-starts-platform-for-central-banks-to-issue-their-cbdcs

EU states approve world's first comprehensive crypto rules

European Union states on Tuesday gave the final nod to the world's first comprehensive set of rules to regulate cryptoassets on Tuesday, piling pressure on countries such as Britain and the United States to play catch up.

www.reuters.com/technology/eu-states-approve-worlds-first-comprehensive-crypto-rules-2023-05-16

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