UK Unveils New Bill Regulating Stablecoins – July 20

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$24,143

Bitcoin price continues to surge with force, as price breaks through the $24,000 mark today, in an extended recovery.

Top-20 altcoins are also still performing well, as Ethereum gains 3%, BNB rises 2% and Dogecoin leads with a 6% advance.

Top Stories for July 20, 2022 🔥

👉 UK Unveils New Bill Regulating Stablecoins

The UK’s newly-proposed Financial Services and Markets bill has been unveiled, looking to regulate crypto and in particular, stablecoins as a form of payment.

The bill will facilitate the creation of “Financial Markets Infrastructure Sandboxes,” enabling firms to “test the use of new technologies and practices in financial markets.” On the other hand, the bill is controversial as it allows ministers to call-in regulatory decisions made by the central bank.

👉 Binance.US Opens Affiliate Program, As Coinbase Closes Theirs

Binance.US has started its own affiliate marketing program, on the tail of news that Coinbase is shutting down theirs until at least 2023.

The program is way of incentivizing third-parties to promote the exchange through social media and other platforms, in this case earning $10 for every referral that completes $100 worth of purchases or trades within 30 days of verifying an account.

👉 Polygon Announces New Zero-Knowledge Scaling Solution

Ethereum scaling platform Polygon has announced a new zero-knowledge scaling solution called zkEVM, which is looking to beat Visa’s transaction capacity.

zkEVM, which stands for “zero-knowledge Ethereum Virtual Machine,” promises a 90% reduction in Ethereum transaction costs, as well as improving transaction throughput to around 2,000 transactions per second.