Weekly Report (01 – 07 May 23) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) Stripe’s New Fiat-To-Crypto Onramp Is An Attempt To Solve The “Cold Start Problem”

According to a statement released on May 4th, Stripe’s newly available fiat-to-crypto onramp – which will be hosted by Stripe itself – will enable Web3 firms to provide clients in the United States with the option to acquire cryptocurrency “at the precise moment they need it,” without requiring the addition of any code to a website or app…[continue reading]

2) Chinese Cryptocurrency Users Strong Despite Ban

Evidence suggests that citizens of the world’s most populous nation have found ways to avoid the system in order to continue dealing with cryptocurrencies and other digital assets nearly two years after China’s crypto ban…[continue reading]

3) The DOJ Is Looking Into Whether Russia Avoided Sanctions By Using Binance

According to Bloomberg, the U.S. Department of Justice (DOJ) is looking into Binance, the biggest cryptocurrency exchange in the world, for its possible involvement in even more illegal behavior. This time, U.S. authorities are investigating the platform’s use by Russian agents to circumvent financial sanctions…[continue reading]

4) El Salvador’s President Signs A Bill To Eliminate Taxes On Technological Innovations

El Salvador’s president, Nayib Bukele, is a Bitcoin advocate, and he has signed a measure that does away with taxes on Bitcoin and other forms of technological innovation. A wide variety of industries are exempt from paying any taxes at all because of the Innovation and Technology Manufacturing Incentive (ITMI) Act…[continue reading]

5) Solana Has More On-Chain Active Addresses Than Ethereum

Wednesday, Nansen tweeted a comparison of the most active on-chain addresses in April. According to the company, Solana ranked second behind BNB Chain as the network with the most active addresses by a chain in April, with 5.1 million…[continue reading]