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🆔 Brazil Enhances National IDs with Blockchain

Brazil is modernizing its national identity card system with a blockchain-based security layer.

The updated IDs, known as Registro Geral or RG cards, will replace traditional paper cards with plastic ones equipped with a QR code. This change facilitates easier identification and online authentication for public services. The Federal Data Processing Service of Brazil, Serpro, developed the b-Cadastros blockchain platform supporting the identification system and tax registration numbers. Neighboring Argentina is also leveraging blockchain for identification, with Buenos Aires introducing the QuarkID, a blockchain digital identity service.

🏦 Swiss Banking Giant Launches Tokenized Fund

UBS has initiated a live pilot of a tokenized version of its variable capital company (VCC) fund as part of Singapore's Project Guardian.

This move underscores the growing significance of blockchain technology in traditional finance. Meanwhile, global investment manager VanEck has launched the VanEck Ethereum Strategy ETF (EFUT), offering exposure to Ethereum futures contracts. Although the ETF doesn't invest directly in Ethereum, VanEck commits to donating a percentage of its profits to support Ethereum's core protocol development.

🐳 Ethereum to Bitcoin: 'Move Over, Big Bro – It's My Turn!

Bitwise Asset Management is set to introduce two Ethereum futures ETFs, offering investors a gateway to the expanding CME Ethereum futures market.

As the cryptocurrency sphere matures, Bitwise expands beyond Bitcoin, emphasizing Ethereum's growing prominence. Simultaneously, the wait for spot Bitcoin ETFs continues, complicated by regulatory issues and the Grayscale lawsuit. Blockchain analytics firm Lookonchain has observed large entities withdrawing substantial Ethereum amounts and staking them, indicating a stronger commitment to Ethereum.

👀 IMF Proposes Framework to Monitor Crypto-Driven Systemic Risks

The International Monetary Fund has released a paper outlining a framework to understand and monitor systemic risks emerging from the crypto sector.

This framework introduces tools to help policymakers and regulators mitigate potential risks. The proposed Crypto Risk Assessment Matrix (C-RAM) identifies global risks that could affect macro-financial stability. The framework comprises a three-step process evaluating the significance of crypto in national economies, potential systemic risks, and global macro-financial risks.

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