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Jack Dorsey leads seed funding for Azteco Bitcoin gift cards, Grayscale chief rips SEC lawsuit policy

Jack Dorsey leads seed funding for Azteco Bitcoin gift cards, Grayscale chief rips SEC lawsuit policy
Jack Dorsey backs seed round: Greg Nash/UPI/Shutterstock

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Jack Dorsey leads seed funding round for Azteco Bitcoin gift cards that boost spending power for unbanked population. Grayscale chief disparages SEC policy of filing lawsuits rather than regulating with clear guidelines. Anton Katz of Talos outlines his ideas to bring more Wall Street liquidity into crypto. Read on!

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Azteco cards enable Bitcoin spending

Consumer Bitcoin provider Azteco’s $6 million seed funding is being led by Jack Dorsey as it introduces gift cards to strengthen the cryptocurrency’s spending power, Fox Business reported.

“My contribution to Azteco comes out of a deep respect for their mission. The unbanked population is immense,” Dorsey said.

Grayscale CEO rips SEC lawsuits

Grayscale Investments CEO Michael Sonnenshein said if the US Securities and Exchange Commission continues with its approach of filing lawsuits rather than clearly regulating the crypto industry, it may have a negative effect on the economy, Cointelegraph reported, citing a Fox Business interview.

The SEC may drive crypto firms out of the US by using the courts for enforcement actions against individual companies, rather than regulating the industry with clear definitions and guidelines, he said.

Wall Street-crypto connection seen

CEO Anton Katz of crypto trading platform Talos told Decrypt in an interview that to bring more Wall Street firms and liquidity into crypto, companies need to create tools that are similar to those used in traditional capital markets.

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Wall Street firms are looking for the best price with the lowest risk, something “the capital market side actually does that pretty well because its years of bad things that happened created an ecosystem of safeties and all that kind of stuff,” Katz told Decrypt.

Visa testing card for gas fees

Visa is exploring ways to pay blockchain gas fees with credit or debit cards, Crypto.News reported.

While cryptocurrencies are used to pay gas fees for transactions on blockchain networks like Ethereum, Visa is experimenting with technology to let users pay them in fiat currency through a linked Visa card.

Brazil may raise crypto taxes

Brazil is considering raising taxes on cryptocurrencies held overseas, Cointelegraph reported, citing local reports.

The draft legislation would also tax gains in crypto asset prices against Brazil’s currency, as well as foreign exchange rate fluctuations, the report said.

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