DIGITAL ASSETS
UK's Bank Regulator to Propose Rules for Digital Asset Issuance
The Prudential Regulatory Authority (PRA) in the United Kingdom is set to propose rules for issuing and holding digital assets, according to Vicky Saporta, executive director of the Prudential Policy Directorate at the Bank of England. The rules will be developed in compliance with the Basel III rules and the Financial Services and Markets (FSM) bill currently being considered by Parliament.
Tanzania wary about CBDC adoption following studies
Tanzania's central bank is proposing a central bank digital currency (CBDC). An East African interdisciplinary technical team examined CBDC hazards and advantages. Four governments have halted CBDC adoption plans, while six have abandoned digital currencies.
Central Bank Executive Says Hong Kong Working On Investor Protection Measures
Central bank governors from around the world are currently in Thailand to discuss the role of central banks amid evolving financial technology. Eddie Yue, chief executive of the Hong Kong Monetary Authority discussed the rise of digital assets and central bank digital currencies (CBDC) and the risks associated with the new technology. Changyong Rhee, governor of the Bank of Korea was not so optimistic about the future of blockchain technology, especially in the monetary sector.
White House Asks Regulators to Enforce Crypto Rules Citing FTX Crises
White House's Press Sec Karine Jean-Pierre said the administration is monitoring the FTX saga
The First Crypto Bank in Puerto Rico Rolls Out Digital-Asset Custody Service
FV (Fintech Ventures) Bank, a global financial entity registered in the U.S. territory of Puerto Rico, has launched a digital-asset custody service for seamless safeguarding and interoperability of crypto and fiat.
Fidelity Launches a New Commission-Free Crypto Trading Product
Fidelity Investments has launched trading support for Bitcoin and Ethereum at zero commission
Australia to Continue Treating Cryptos as Assets
According to the Australian government's budget announcement on Tuesday, legislation will be put upon treating digital currencies such as bitcoin as an asset.
Israel's Stock Exchange to Launch a New Platform for Digital Asset
The Tel Aviv Stock Exchange is planning to create a crypto platform through a project that will span for 5 years
Fidelity Institution's President Advocates Room for Consumers to Acquire More Crypto
Fidelity Institutional boss, Michael Durbin is advocating more crypto allocations for consumers
Google Pairs with Coinbase to Spur Web3 Innovations, Offer Crypto Payments for Cloud Services
Google has teamed up with crypto exchange Coinbase to allow some of its clients to pay for cloud services using cryptocurrencies.
Dubai Seeks to Become Hub of Metaverse
Dubai has set the ball rolling to improve people’s lives and render creative solutions by positioning itself as the global capital of Web3 through its new blockchain and metaverse technology.
The White House Publishes Guidelines for Regulating Digital Assets
The U.S President, Joe Biden has set up a new framework on how cryptocurrency will be traded and regulated in the U.S
Global NFT Market Expected to Hit $97.6B by 2028, Recording a CAGR of 31.6%
Since non-fungible tokens (NFTs) help build authentic intellectual property, this is one of the key drivers expected to push the sector to a $97.6 billion valuation by 2028, according to a report by Research and Markets.
CBDCs Require Balance between Data Access & User Privacy Protection, HashCash CEO Says
CBDC would need a delicate balancing act between data access and user privacy protection in terms of taming illegal activities, according to HashCash Consultants CEO Raj Chowdhury.
LG Electronics to Roll Out Crypto Wallet
As part of plans to expand its business scope to include platforms and software, South Korean tech giant LG Electronics is launching a crypto wallet application dubbed “Wallypto.”
