Today in Crypto: Meta Expands NFT Sharing
Today in cryptocurrency, Meta now enables people to post non-fungible tokens (NFTs) they own on Facebook and Instagram. The Central African Republic’s Supreme Court has also ruled that using state-backed cryptocurrency to buy land, citizenship and “e-residency” violates the country’s constitution, and the head of Singapore’s central bank is considering new measures to limit and discourage speculation in crypto trading .
The court says the Central African Republic’s crypto sale is unconstitutional
The Central African Republic’s (CAR) Supreme Court has said that using state-backed cryptocurrency to buy land, citizenship and “e-residency” is inconsistent with the country’s constitution. CAR’s Constitutional Court found the purchases unconstitutional and that nationality “does not have a market value”.
Singapore moves to protect retail crypto traders from itself
Ravi Menon, CEO of the Monetary Authority of Singapore (MAS), has said that more measures could be coming to protect crypto investors from their own “irrationally ignorant” ways of spending money. He said this was a global problem, which had attracted the attention of governments around the world. He added that consumers mostly looked at the sharp price increases, without taking the risk into account.
Indonesia’s GoTo enters crypto with Kripto Maksima purchase
GoTo, the Indonesian technology firm, enters crypto as it acquires crypto exchange PT Kripto Makisma Koin. GoTo has acquired 100% of the company’s shares, saying the purchase was part of a plan to turn the company into “a diverse money management hub.”
Meta extends NFT sharing feature from Instagram to Facebook
Meta will let people post NFTs on Facebook and Instagram as it continues to roll out more features related to digital collectibles. The feature was added in May for Instagram, and expanded to Facebook as of August 29.
JPMorgan’s Kelly: Sell crypto, stay away from big tech stocks
David Kelly with JPMorgan Asset Management said investors should focus on value stocks as the Fed continues to raise interest rates. He said investors should not look short-term and instead should overweight US and international values, along with stocks with lower price-to-earnings ratios.
NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS WITH STRONG DEMAND FOR SUPER APPS
About: The findings of PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy”, a collaboration with PayPal, analyzed the responses of 9,904 consumers in Australia, Germany, the UK and the US and showed strong demand for a single multi-functional super app instead of using dozens of individuals.
