Bitcoin 2022 Miami Conference Highlights 

Following Biden’s Executive Order, U.S. Senator Cynthia Lummis announced at the Bitcoin Conference upcoming legislation, the Responsible Financial Innovation Act, aimed to integrate Bitcoin and Cryptocurrency into the US Financial System.

It's truly a legislative framework that we hope will provide the sandbox for innovation to occur but also put some regulatory parameters, so you all know the rules of the road...

It includes privacy components, consumer protection components, taxation components…

US Senator Cynthia Lummis

As a response to the rapid growth and increase in cryptocurrency adoption, the U.S. introduced in September 2021, a tax change, part of the infrastructure bill which looked to change the reporting requirement and collect know-your-customer (KYC) from people sending over $10,000 in Bitcoin or other cryptocurrencies.

El Salvador’s president Nayib Bukele along with Strike’s CEO Jack Mallers announced at last year’s Bitcoin Conference that the country will adopt Bitcoin as legal tender in an attempt to generate jobs and help financial inclusion for those outside the traditional financial system.

Strike’s CEO also announced that “Bitcoin for countries” will be available and open-source for any countries that want to follow El Salvador’s example and escape the restrictions imposed by the traditional financial system.

Strike is a global payments network that utilizes Bitcoin Lightning Network and at this year's conference, the CEO announced a partnership with Shopify, NCR, and the Blackhawk Network – the three global payment-system leaders - to enable Bitcoin transactions in outlets all over the U.S.A.

CashApp also unveiled three new Bitcoin products at Bitcoin Conference Miami 2022, as it aims to redefine the world’s relationship with Bitcoin, by making money more relatable and instantly available:

• Paid in Bitcoin – auto-invest a % of your paycheck into bitcoin.

• Bitcoin Round-Ups – auto-invest your spare change into bitcoin.

• Lightning Network – receive bitcoin instantly.

All are FREE and have 0% fees.

Robinhood, a commission-free trading platform announced the launching of its own wallet and furthermore they are working on a new product, lightning network. This is a massive improvement as it will enable fast and cheaper Bitcoin transactions which will still have 0% commission but also lower carbon footprint as transactions will happen off-chain.

Impervious, a layer 3 product created on top of Bitcoin Lightning Network, also announced the Impervious web browser, an internet browser that does not track or sell data and is censorship resistant A “layer 3” network that can be used to set up decentralized virtual private networks (VPNs), messaging platforms, or even streaming videos or DJs or podcasts.

I can be in China, or I can be in Iran, and this allows us to speak freely without censorship...

Explains Chase Perkins, Impervious founder and CEO

Bitcoin Conference Miami 2022 has shown one more time the rapid growth in Bitcoin adoption across the globe with countries following El Salvador’s and Lugano’s example by adopting Bitcoin as legal tender. Officials worldwide are announcing decisions to adopt Bitcoin as legal tender.

This includes the jurisdiction of Prospera located in Honduras and the island of Madeira in Portugal. Madeira went one step further to say the sale of Bitcoin will not be taxed, and it plans to lower corporate taxes to 5% as an effort to bring in new businesses. 

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