As the crypto market shakes off a bit of the mad volatility that took place last grueling week, this week, in our main story we’ll spill the beans or shall I say the cheese on one of the crypto sphere's most historic tales ever! You must be wondering, what does bitcoin have to do with pizza? Speaking of crazy, can you believe that G7 is looking to regulate crypto ASAP ?♂️! All of this and more, you know the drill... we've got you covered! Here's a quick rundown of all the important Bitcoin and cryptocurrency news stories from the past week.
Happy Bitcoin Pizza Day ?!
May 22 commemorates the first ever bitcoin transaction! Back in 2010, Laszlo Hanyecz posted on the Bitcoin forum saying that he’s willing to pay 10,000 BTC for anyone who can get him 2 large pizzas.
Later on, On May, 22, 2010, Laszlo Hanyecz announced on the same Bitcoin Forum that he completed the world's first documented Bitcoin (BTC) transaction for a physical item in 2010, paying 10,000 BTC for two large pizzas (almost $40 at that time). Since then, the Bitcoin community has celebrated this day and there is even a dedicated page that tells you the daily price of those 2 expensive pizzas!
The Bitcoin pizza is worth $294,756,033 today. (+0.98% from yesterday) Today is Bitcoin pizza day!
— Bitcoin Pizza ? (@bitcoin_pizza) May 22, 2022
CoinMENA Expands to Qatar
The fastest growing crypto exchange in the Arab world, CoinMENA, became the first ever regional crypto exchange to provide crypto services in Qatar.
Hala #Qatar!
As a fully regulated entity by the Central Bank of Bahrain, we are able to offer our services to residents of all GCC countries. Looking forward to continuing to expand to new markets in MENA from our base in Bahrain. ? pic.twitter.com/2YhPtf4ea7— CoinMENA | كوين مينا (@CoinMENA) May 20, 2022
With this expansion, users across the GCC can now easily and safely invest in cryptocurrencies for the first time ever. CoinMENA Co-Founders Dina Sam’an and Talal Tabbaa commented in a joint statement: “We are delighted to become the first crypto exchange to offer our services in Qatar. Investors have been asking about our plans to enter the country for some time now, so this news represents a major milestone on our long-term geographic market expansion plans.”
G7 to Address Crypto Regulations
G7 is expected to discuss the regulation of crypto-assets at the finance chiefs meeting this week in Germany, according to French central bank head Francois Villeroy de Galhau. This comes in the light of the recent market turmoil following the collapse of stablecoin terraUSD (UST). Last week, the G7 issued a statement calling for stricter rules to combat money laundering and disclose reserves.
Dubai Establishes Committee to Strengthen Its Position in the Metaverse
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, issued directives to form a task force to track the latest developments in the digital economy of the metaverse.
.@HamdanMohammed, @MaktoumMohammed review vital technology trends in the metaverse and issued directives to form a task force to track the latest developments in the digital economy. #Dubai https://t.co/oY819Rs5MU pic.twitter.com/lVtk79uYLT
— Dubai Media Office (@DXBMediaOffice) May 19, 2022
Dubai officials, according to the report by WAM, want the metaverse to contribute one percent of the city's GDP. Meanwhile, the task force is working to integrate metaverse technologies, which will improve resident surgeon performance by 230 percent and engineer productivity by 30 percent, according to the report. Furthermore, the report stated that corporate income from the metaverse might increase to $400 billion by 2025, up from $180 billion now.
