The ceo of bank of america sees crypto as an asset rather than a competitor which u.s city will be crypto capital. The fbi issues a new warning about crypto atm scams. The digital euro is attractive, but not too successful. Music brazils, deputy federal minister proposed crypto payment options for workers now lets dive into the details. The ceo of bank of america sees crypto as an asset rather than as a competitor tom montag. The ceo of bank of america spoke about cryptocurrencies in an interview last thursday, the interview with ceo, michael groninger, at a conference of the blockchain analysis company chain analysis in new york. Montag is also the boas president of global banking and markets and a board member as well. He is responsible for all business operations for corporations and institutional investors. The ceo said: crypto reminded him of the beginnings of derivatives and admitted he didnt understand stable coins. I dont understand it like everyone else. Is there really a dollar behind stable coins when asked if banks are competing with cryptocurrencies montag said i dont see this as a competition at all. I see it as another asset class and people like it for a variety of reasons: montag isnt, the only one who sees cryptocurrencies as an asset class investment bank goldman sachs, said in may that bitcoin was an investable asset in july. Jpmorgan said many of its clients view crypto, as an asset class that they want to invest in u.

s city will be the crypto capital. U.S politicians have started to increasingly accept digital currencies, as for mayors announced last week that they would accept their salaries in bitcoin. With that, many people are predicting that at least one of these four cities could become a crypto capital in the future. This speculation begins with miami mayor, francis suarez, announcing that he will accept 100 of his next salary in bitcoin. In the meantime, eric adams, the elected mayor of new york city, has followed suit and raised the bar and announced that he will receive his first three salaries in bitcoin. They were followed by scott conger, the mayor of jackson, tennessee in a tweet on thursday congress said he will convert his next paycheck to btc immediately despite city law, prohibiting him from accepting bitcoin directly as the crypto landscape evolves its clear that politicians in these regions are Taking steps to shift the crypto industry into this area, the demand for crypto talent is increasing, as jobs in this industry grow rapidly. City linked data bloomberg reports that new york, san francisco and los angeles have the largest proportions of crypto related settings this year in 2021. Its followed by metropolises, such as miami and chicago fbi, issues new warning about crypto atm scammers. The fbi has issued a new warning against crypto atm scammers, as they use machines and qr codes to make payments so check out our latest crypto news. Today, the fbi has issued a new warning of phishing systems that use crypto atms and qr codes according to the agency, and they said in a public statement, the fbi has seen an increase in scammers, instructing victims to use physical crypto atms and digital qr codes to Complete payment transactions.

According to the fbi, these schemes are online identity, theft, batteries and erotic schemes, regardless of the type of conspiracy. The fbi says these methods most commonly use, cryptocurrency atms and qr codes. According to the fbi, scammers often ask victims for payment and, in turn, takes them to a crypto atm that has a qr code that points to the scammers wallet. The fbi added the decentralized nature of cryptocurrency creates challenges that make recovery difficult. The agency added that, after the victim made a payment, the fraudster took possession of the cryptocurrency and often transfers it to an account overseas. This is different from a traditional bank transfer where payments take a day or two before theyre settled. It can also make it difficult for law enforcement to get money back and many victims could suffer financial loss. The digital euro is attractive, but not too successful, says the ecb operator, according to fabio panetta senior, executive of the european central bank or the ecb. The digital euro is an attractive means of payment, but its design limits its ability to store value, threatening banks and personal money. Panetta emphasizes that both this paradox and the need of successfully issued cbdcs require attention. While cash now gives everyone access to a central bank, digital currency or cbdc, its importance in payments is diminishing, as users increasingly prefer. Digital payments and shop online internet sales in the eurozone have doubled since 2015, and only about 20 of each cash reserves are now used for payments compared to 35.

A decade and a half ago, fabio central bank said in a speech to the el cano royal institute. In madrid, as people begin to use cash more as a store of value than as a means of payment, the digital euro will allow them to continue using central bank money as a medium of exchange in the digital age. Keynote focusing on the future role of cbdcs. In his view, the digital euro and cash will complement each other to ensure that central bank money remains the monetary anchor for the payments ecosystem. To achieve this, the digital form of the euro must be attractive to be widely used in payment transactions. At the same time, the design will prevent it from becoming a successful store value that overwhelms private money and increases the risk of mass withdrawals. Brazils deputy federal minister proposed crypto payment options for workers. Brazils deputy federal minister has proposed a new crypto payment option for domestic workers and hopes this proposal will become law, read more about it. In our latest crypto news, brazils deputy federal minister louis al ghular has proposed a new bill to legalize cryptocurrency payments as a payment method for workers in the public and private sectors. Gulars proposal envisages a new law that would allow brazilians to choose cryptocurrencies and demand compensation in cryptocurrency from employers. According to the translation of the invoice limitations on a percentage of payments, withdrawals in crypto will be the free choice of employees. Any imposition by the employer is strictly prohibited.

The bill outlines the evolution of finance from an exchange system to a fiat currency and all avenues for bitcoin focus on the decentralized aspect, eliminating dependency on a single currency person or entity. If the bill were signed, goularts bill would create a consensus between employees and employers to preset the percentage of remuneration in fiat and crypto. Most importantly, the proposal will help solve the federal state and municipal cash problem together by offering payment alternatives and transforming a large market.