Web3 Diaries- Visa Enables Crypto Withdrawals On Debit Cards
Global payment giant Visa is stepping up its efforts to encourage the use of cryptocurrencies by opening up yet another way to convert bitcoin to fiat money without utilizing a centralized exchange.
The companies announced on January 30 that Visa, in collaboration with Web3 infrastructure provider Transak, will launch cryptocurrency withdrawals and payments via the Visa Direct solution.
With the help of this new connection, users may now withdraw cryptocurrency like Bitcoin straight to a Visa debit card from a wallet like MetaMask. The connection is instantaneously available and allows users to convert cryptocurrency to cash and make payments at 130 million merchant locations that accept Visa.
German authorities confiscate piracy websites connected to BTC.
Authorities across the globe are taking stern measures against defrauders. Most of these events are sadly associated with cryptocurrencies, particularly Bitcoin.
After the United States came down heavily on such fraudsters, the German authorities have followed suit.
Saxony, the state in eastern Germany, reported confiscating roughly 50,000 Bitcoin as part of an investigation into copyright violations.
In a Jan. 30 announcement, the Saxony police said it coordinated with tax authorities and prosecutors to secure the BTC, allegedly connected to two German and Polish nationals. The individuals acquired these Bitcoins with the proceeds of pirated works through websites in 2013.
China’s Most Valuable Company Tencent Pivoting To AI As Gaming Profits Falter
The most valuable company in China, Tencent, has hinted that it will follow its Silicon Valley peers in refocusing on artificial intelligence (AI) projects in the future.
The announcement coincides with declining sales for the gaming segment of the 25-year-old digital giant, which has historically generated over one-third of the business’s profits.
The Chinese gaming industry completed acquisitions worth $16.9 billion in 2018, according to a study from The Verdict. By 2020, deals had fallen to $10.3 billion, and by 2023, they had only reached $158 million.
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