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January 10, 2022

Twitter: Brian Armstrong on Coinbase proposing federal regulatory framework for cryptocurrency top tweet in Q4 2021

Coinbase leads as Electronic Payments International lists five of the most popular tweets on payments tech in Q4 2021 based on data from GlobalData’s Banking and Payments Influencer Platform.

The top tweets are based on total engagements (likes and retweets) received on tweets from more than 150 payments tech experts tracked by GlobalData’s Banking and Payments Influencer platform during the fourth quarter (Q4) of 2021.

The most popular tweets on payments tech in Q4 2021: Top five

1. Brian Armstrong’s tweet on Coinbase proposing a federal regulatory framework for cryptocurrency

 Brian Armstrong, CEO of cryptocurrency trading platform Coinbase, shared an article on the company working on a draft regulatory framework for cryptocurrency for consideration by the US federal lawmakers. Titled ‘Digital Asset Policy Proposal: Safeguarding America’s Financial Leadership (dApp)’, the proposal was presented in October 2021.

The Coinbase proposal recommends digital assets to be regulated under a separate network and proposes to designate one regulator for digital assets. It also aims to protect digital asset holders by enabling transparency and preventing market manipulation apart from endorsing interoperability between various forms of digital assets.

Armstrong stated that Coinbase prepared the proposal in consultation with more than 30 cryptocurrency companies, various members of Congress, four prominent law firms and three trade groups. The company aims to become an advisor and advocate for how the US can develop a practical regulation around cryptocurrency, the article detailed.

Username: Brian Armstrong

Twitter handle: @brian_armstrong

Likes: 1,896

Retweets: 259

2. Barry Silbert’s tweet on Digital Currency Group purchasing shares of Grayscale Bitcoin Trust

Barry Silbert, CEO of cryptocurrency-focused venture capital company Digital Currency Group (DCG), shared an article on the company authorising the purchase of up to $1bn worth shares of investment vehicle Grayscale Bitcoin Trust (GBT). The transaction increases the previous authorisation to purchase $750m worth shares in GBT by $250m. DCG bought $388m worth of GBT shares as of 19 October 2021. The purchase will be completed through an open market transaction using cash the company holds.

DCG stated that the authorisation does not require the company to buy a certain number of shares in any given period and that it is subject to modification, extension, or withdrawal at any time. The timing of the purchase will depend on cash availability, price, and market circumstances, the article highlighted.

Username: Barry Silbert

Twitter handle: @BarrySilbert

Likes: 1,547

Retweets: 213

3. Charlie Lee’s tweet on US Bank launching bitcoin custody service

Charlie Lee, managing director of non-profit organisation Litecoin Foundation, shared an article on retail bank US Bank announcing the launch of bitcoin custody service to meet cryptocurrency demand. The service will allow investment managers to safeguard private keys for bitcoin, bitcoin cash, and litecoin with the help of bitcoin-focused financial services firm NYDIG. The bank will be required to trace the origin of the client’s assets using industry-standard anti-money laundering and know your client (KYC) checks to onboard a manager into the cryptocurrency service, the article detailed.

Institutional investors with private money in the US and the Cayman Islands will be able to use the service. The US Bank’s announcement follows similar moves made by other financial institutions including Bank of New York Mellon, State Street, and Northern Trust who have confirmed their plans to provide custody for digital assets. It indicates that traditional financial institutions are beginning to recognise cryptocurrencies as a legitimate asset class, the article noted.

Username: Charlie Lee

Twitter handle: @SatoshiLite

Likes: 1,218

Retweets: 369

4. Jameson Lopp’s tweet on Casa introducing QR code signing in partnership with Keystone

Jameson Lopp, chief technology officer at Bitcoin self-custody solutions provider Casa, shared an article on the company introducing a transparent QR code signing in partnership with technology company Keystone’s hardware wallets. Keystone hardware devices can be integrated within Casa’s Gold, Platinum, and Diamond security plans providing a seamless payment experience to its clients.

The wallet’s features include a camera, fingerprint authentication, and a 4in touchscreen to make it easy to scan QR codes and confirm transactions. The wallet’s inbuilt security element and air-gap functionality provide user protection lowering malware risk and boosting the overall security of users’ private key without using an internet connection.

Username: Jameson Lopp

Twitter handle: @lopp

Likes: 145

Retweets: 16

5. Jeremy Allaire’s tweet on the launch of cross-border payment platform Bitso Shift

Jeremy Allaire, chairman and CEO of financial technology firm Circle, shared an article on the company launching a cross-border payment platform Bitso Shift in collaboration with cryptocurrency platforms USDC and Bitso. The platform is equipped with Circle’s payment infrastructure allowing users from Mexico to make secure and efficient withdrawals and deposits using domestic wire transfers to and from the US.

The cross-border payment platform caters to the US and Mexico remittance corridor, which is the largest in the world registering a 10% increase in remittances in 2020. The service will support small businesses and ensure the economic prosperity of more communities. Users can make in-app conversions between Mexican Pesos and supported stablecoins at low prices without the requirement for a minimum balance. An electronic transfer to the platform at market rates can take 24 to 48 hours through fully-regulated agencies, the article detailed.

Username: Jeremy Allaire

Twitter handle: @jerallaire

Likes: 131

Retweets: 28

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