In cryptocurrency breaking news today, Qatar has been chosen as the official location where the 2022 FIFA World Cup is going to take place. This even after the trading of cryptocurrencies seems to be illegal in place ever since 2018.
But what is surprising here is that despite cryptocurrency trading being illegal in Qatar, Crypto.com has been chosen as the official sponsor for the tournament. According to reports, it is highly likely that Crypto.com is all set to wow the international crowd due to the popularity of soccer on the stage of the world.
FIFA the international body of governing that is responsible for holding many tournaments of soccer all over the world has made a special announcement.
Apart from choosing the location of the major soccer tournament to be Qatar, FIFA has also made an announcement of the official sponsor. According to the cryptocurrency breaking news today, this has managed to surprise the entire community of crypto ever since FIFA has made the announcement that Crypto.com is going to be the official sponsor of the next World Cup event that is to take place in Qatar.
The reason why the crypto community is so surprised by the news is that it has been pretty illegal to perform activities of crypto trading in Qatar since the year 2018.
In an announcement made on Wednesday, the FIFA association mentioned that the branding of Crypto.com will appear on both the interiors as well as the exterior portions of the entire stadium.
The FIFA World Cup 2022 is scheduled to begin in the month of November and Qatar is the location where the event will take place as the soccer teams from different international countries will compete with each other in a glorious standoff to have the trophy.
The promotion for FIFA World Cup 2022 has already begun. According to the people, the particular crypto exchange that has been chosen as the official sponsor will definitely provide certain opportunities for the users to attend different matches and also win some official merchandise if they are a part of the sponsorship.
According to FIFA chief commercial officer Kay Madati, the deal will help grow the games “on a global scale,” citing Crypto.com’s partnerships with other entities around the world.
In November, the exchange inked a deal to rename the Los Angeles-based sports and entertainment venue Staples Center to the Crypto.com Arena for 20 years. Crypto.com has also partnered with the Australia Football League in a $25 million deal, signed a $100-million sponsorship agreement with Formula 1, and inked a 10-year $175 million sponsorship agreement with the Ultimate Fighting Championship.
Though trading cryptocurrencies including Bitcoin (BTC) has been largely illegal in Qatar since the country’s central bank announced a ban in 2018 — and reaffirmed in January 2020 by the Qatar Financial Centre Regulatory Authority — Crypto.com is likely to reach a more international crowd given the popularity of soccer on the world stage.
FIFA reported that more than 3.5 billion people watched the 2018 FIFA World Cup in Russia, with more than a billion watching the final between France and Croatia.
FIFA World Cup in Qatar Shadowed By Bribery and Corruption Allegations
In cryptocurrency breaking news today, there are just eight months left for the World Cup to begin officially and the tournament is already shadowed by different allegations that people are making about corruption and bribery that are reaching the process of bidding in Qatar.
In April 2020, the United States Department of Justice indicted three individuals connected to “the payment and receipt of bribes and kickbacks” for FIFA’s selection of countries to host the World Cup, including in Russia in 2018 and the upcoming tournament in Qatar.
In addition, the international non-governmental organization Human Rights Watch has alleged abuse and slavelike conditions for workers hired to build the infrastructure for the event.
Also Read: National Women’s Soccer club Angel City has partnered with Crypto.com.
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