RIYADH: Bitcoin, the leading cryptocurrency internationally, traded lower on Tuesday, down 5.13 percent to $40,114 as of 09:00 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $3,010, down 5.36 percent, according to data from Coindesk.
Meta starts testing tools for Metaverse
Facebook owner Meta Platforms FB.O is beginning to test tools for selling digital assets and experiences within its virtual reality platform Horizon Worlds, a key part of its plan for creating a metaverse, it said on Monday.
The tools will be available initially to a handpicked set of users who are creating virtual classes, games and fashion accessories within the company’s immersive platform, which is accessible via VR headsets, Meta said in a statement.
Using one tool, those select users will be able to sell their accessories or offer paid access to specialized digital spaces they have built, the company said.
The social media giant is also testing out a “creator bonus” program for a small set of Horizon Worlds users in the US, through which it will pay participants each month for using new features the company launches.
“We want there to just be tons of awesome worlds, and in order for that to happen, there needs to be a lot of creators who can support themselves and make this their job,” Chief Executive Mark Zuckerberg said in a conversation with early adopters, held inside Horizon Worlds using avatars.
Bank of Spain reminds public crypto purchases can be banned in certain cases
RIYADH: The Spanish Central Bank has warned users of that banks can take punitive actions if they suspect illegitimate cryptocurrency purchases.
It explains that traditional banks have the ability to block these transactions if they suspect there are suspicious circumstances involved, such as those related to identity theft or money laundering.
The bank also explains that accounts can be blocked as a result of suspicious behavior associated with identity theft.
“It may happen that the bank has suspicions that identity theft with credential theft is taking place. There are frequent cases of fraud in which there is fraudulent access to the accounts of the clients of an entity after having stolen their passwords from the client, and which end in a transfer to acquire cryptocurrencies,” the bank said.
“It may also happen that the bank classifies this type of operation as high risk and decides to require additional controls, such as making a phone call or asking you to come to the branch.”
Crypto trading volume in India plunges further
Cryptocurrency trading volume in India continues to decline after the government started taxing crypto income at 30 percent.
Crypto trading volumes have fallen from last week across all major exchanges, according to crypto research firm Crebaco.
In addition, MobiKwik reportedly pulled its services across exchanges on April 1 amid unclear regulations, Bitcoin.com reported.
MobiKwik has been one of the preferred payment methods for buying cryptocurrency on exchanges.
Dark personality traits affect Bitcoin enthusiasm, research says
Meanwhile, new research carried out by experts at Queensland University has suggested that cryptocurrencies are more likely to woo people with dark personality traits.
“First, the high risks and high potential returns of crypto trading make it attractive to the kind of people who like gambling. Second, cryptocurrencies are not issued or backed by governments like traditional or “fiat” currencies. This makes them attractive to people who distrust government,” wrote the researchers in an article published in The Conversation.
“A common reason to invest in crypto is the hope of earning high returns. Beyond the desire to build wealth, our research shows dark personality traits also drive crypto buying,” researchers added.
Delivery app Rappi begins accepting cryptocurrency
Colombian delivery app Rappi, which offers on-demand deliveries of food and other goods across Latin America, has launched a cryptocurrency payment pilot program in Mexico.
Rappi has teamed with cryptocurrency platforms Bitpay and Bitso to back the new service, which will let users turn crypto into credits within the app to make purchases, Rappi said.
“It’s a first step that will allow us to learn and continue incorporating the crypto world into Rappi,” Rappi President Sebastian Mejia said in a statement.
(With inputs from Reuters)