BlackRock Set to Tap Indian Crypto Market with New Offering

Global asset management firm BlackRock is set to make a significant move into the crypto space with the launch of its digital-first investment offering in India. 

BlackRock formally announced a joint investment project with Jio Financial Services (JFS), a division of Reliance Industries, owned by Mukesh Ambani. The firm aims to capitalize on the growing interest in crypto and digital assets among Indian investors. 

The "Jio BlackRock" project seeks to give millions of investors in India tech-enabled access to affordable, innovative investment solutions.

Russian CBDC Set to Debut in August  

Russian President Vladimir Putin has given the green light for the launch of Russia's Central Bank Digital Currency (CBDC) in August. 

The digital ruble, which the Bank of Russia has long been considering, will be used for payments along with other methods, according to the new amendments to Russia's Civil Code. According to the law, the central bank will be in charge of managing the digital ruble accounts.

The Russian CBDC aims to enhance financial inclusion and promote a more efficient payment system. 

Hong Kong and Saudi Arabia Collaborate on Tokens and Payments 

Hong Kong and Saudi Arabia have initiated a collaboration aimed at exploring the potential of blockchain-based tokens and cross-border payments. 

The collaboration aims at initiatives such as financial infrastructure development, open market operations, market connectivity and sustainable development.

Hong Kong and Saudi Arabia’s authorities also took the opportunity to share their expertise in areas like tokenization, payment infrastructure and supervision technologies.

Crypto Regulatory Framework Bill Advances in U.S. Congressional Committee 

The United States is making strides in the development of a comprehensive regulatory framework for crypto and digital assets.

The Crypto Regulatory Framework Bill has recently advanced in the U.S. Congressional Committee, signalling increasing efforts to provide clarity and oversight to the crypto industry. 

The bill aims to address concerns related to consumer protection, investor safety, and financial stability.

The House Financial Services Committee approved the Financial Innovation and Technology for the 21st Century Act, which would establish rules for crypto firms on when to register with either the Commodity Futures Trading Commission or the Securities and Exchange Commission.

Martial Arts Legend Bruce Lee Avatar to Teach in the Metaverse

Legendary martial arts icon Bruce Lee is being immortalized with the help of the metaverse. A digital avatar of Bruce Lee is set to teach martial arts in the metaverse through a tribute event to celebrate the 50th anniversary of the actor’s passing. 

The Bruce Lee avatar is expected to attract enthusiasts of both martial arts and the metaverse, showcasing the potential of combining entertainment and education in this evolving digital landscape.

Metaverse project Byte City announced that those who wish to engage with the avatar of the late actor can participate in the event by minting avatars on Ethereum and Polygon.

That’s all for this edition of our crypto newsletter. Stay tuned for more exciting news and updates from the world of blockchain and crypto!