Federal Reserve Releases CBDC Discussion Paper – January 21

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $38,610

Bitcoin price has tumbled rapidly from yesterday’s highs, dropping more than 10% into the $38,000 range.

Top-20 altcoins have also suffered significantly, as Ethereum falls 14%, BNB drops 10% and Crypto.com Coin slides 15%.

Top Stories for January 21, 2022 πŸ”₯

πŸ‘‰ Federal Reserve Releases CBDC Discussion Paper

The United States Federal Reserve has published a discussion paper on central bank digital currencies (CBDCs), examining the pros and cons of a US CBDC.

The paper also seeks public comment on the concept, claiming a neutral stance on the potential payments system. Respondents have 120 days to provide optional input and answers to a series of questions that were provided alongside the paper.

πŸ‘‰ Twitter Launches NFT Verification Feature For Profile Pictures

Social media platform Twitter has finally rolled out its NFT-verfication feature, which allows users to certify ownership of an NFT set as their profile picture.

The feature will be first available to Twitter Blue subscribers on iOS, displaying verified profile pictures in a hexagonal frame. Coinbase Wallet, MetaMask and several other wallet types are supported for NFT verification.

πŸ‘‰ Binance Maintained Weak KYC Processes Despite Public Promises

Cryptocurrency exchange giant Binance reportedly maintained weak know-your-customer (KYC) processes despite public promises, according to Reuters.

The report, which was based on interviews with former Binance employees and associates, also highlighted that Binance also refused to properly cooperate with authorities for requests relating to money laundering risks.