Market overview: June 22 — 26, 2020

Friday is finally here, and as usual, here’s our brand new weekly digest for you. Check out the most important stories of this week in cryptocurrency and blockchain spheres.

Paypal plans to support cryptocurrency transactions

According to a report published by CoinDesk, PayPal and its affiliated project Venmo will allow their users to buy and sell cryptocurrencies. It is expected to see a built-in wallet functionality so you can store it there.

While PayPal declined to comment on these rumours, another source told CoinDesk that PayPal will start cryptocurrency support in the next three months.

Ethereum 2.0 launch scheduled for June 29 

Developers of the project are following the plan which was announced in May. According to it, an updated testnet would be launched in June.

Afri Schoedon, the coordinator of the Eth 2.0 testnet, announced that the minimum amount of deposits for the launch of Altona has been reached.

Altona will be the first network that will use brand new 0.12 specification for Ethereum 2.0. It will be the first testnet targeting a wide range of customers. Developers of this project admit that they have yet to identify the most serious bugs.

EU tightens cryptocurrency regulation

The European Union plans to implement a new cryptocurrency regulation that could include stricter requirements for “global stablecoin” projects.

The bloc’s lead economics minister, Valdis Dombrovskis announced his position at the Digital Finance Outreach 2020: “This is a good chance for Europe to strengthen its international standing and to become a global standard-setter, with European companies leading new technologies for digital finance”.

He also added that the EU plans to release stricter rules on any project which can be called as “global stablecoins”.

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