Revolut will allow users to get cash back in Bitcoin
Revolut is launching a “Metal Card” which allows earning 1% cash back outside of Europe, & 0.1% in Europe, that is paid in cryptos such as Bitcoin, Litecoin, and others. Notably, Revolut offers the services of a regular bank through its app.
Getting cash back in crypto is available on card purchases, and on global ATM withdrawals per month over $772. This special metal bank card will cost $155 per year. With about 2.5 million users across Europe, it will further expose cryptocurrencies to the population. Nikolay Storonsky, the CEO of Revolut stated on its launch, “We are absolutely convinced that Revolut Metal will be the exclusive card of the future, and an absolute must for travellers worldwide.
China bans hosting crypto events in downtown Beijing
Commercial venues located in downtown Beijing are now banned from hosting cryptocurrency events. Authorities in Beijing’s Chaoyang district have circulated an order, dated Aug. 17th, warning businesses such as office buildings, hotels, and shopping malls that they must not host events that promote cryptocurrencies, leading at least two organizations to cancel scheduled events on short notice.
Dovey Wan, managing director at venture capital firm Danhua Capital, said she believes the order is an extension of the cryptocurrency trading ban that the central government first implemented last year. She explained: “Chaoyang is a very symbolic district, what’s considered as the ‘center of the core power’. Also the regulatory environment’s “propagation of narratives” does not need official nation-wide documentation in China, this already sets the tone.”
7 Premier League teams partner with eToro for Bitcoin payments
Tel Aviv-based global investment platform eToro has entered into a historic partnership with 7 Premier League football clubs, which will make payments to their players in Bitcoin. The teams include Leicester City FC, Newcastle United FC, Southampton FC, Tottenham Hotspur FC and others. As a part of the deal, team players will be made payments in Bitcoin through eToro digital wallets.
eToro’s managing director Iqbal V. Gandham said “…we are excited to be partnering with so many Premier League clubs and make history… Today’s announcement is the first small step on a long road… getting global exposure through these Premier League clubs represents a great opportunity to raise awareness. Blockchain brings transparency, which means it can improve the experience for everyone who loves the ‘beautiful game.’”
Crypto media banned from WeChat
Blockchain and cryptocurrency media accounts in China have been banned on WeChat, the messenger app. The following message is shown on the account pages for Deepchain, Huobi News, Jinse, Deepchain, CoinDaily and many others. “Due to users’ complaints and after the platform’s examinations, the account is found to violate… all contents have been banned. The account has been prohibited for use.”
It’s not clear at this time precisely why the accounts have been closed. However, China enacted new “public messaging” rules reportedly targeting blockchain media outlets on August 7th which may be the catalyst for the account closures.