DIGITAL CURRENCY
Arthur Hayes: Major Banks to Challenge Tether's Stablecoin Dominance
Major banks set to challenge Tether's stablecoin dominance, leveraging trust, compliance, and technology in a rapidly evolving market.
Turkey Names Blockchain Expert to Central Bank Committee
Turkey's central bank embraces blockchain with the appointment of crypto expert Prof. Fatma Ozkul to its monetary policy committee.
Bank of China Achieves Groundbreaking $14 Million e-CNY CBDC Settlement in Gold
The Bank of China's Shanghai branch successfully settled a $14 million e-CNY CBDC for gold, marking a significant advancement in digital currency's role in international trade.
Italy and South Korea's Central Banks Forge a Path in CBDC Development
The Bank of Italy and the Bank of Korea have signed an MOU to collaborate on the development of Digital Currencies (CBDCs), a significant development in the digital currency sector.
Tripling of Bitcoin Millionaire Wallets in 2023: A Deep Dive into the Crypto Wealth Explosion
In 2023, the number of Bitcoin wallets with over $1 million increased by 237%, indicating a significant shift in cryptocurrency wealth and market dynamics.
BIS Conference Addresses Cybersecurity in Central Bank Digital Currencies (CBDC)
Agustín Carstens, General Manager of the Bank for International Settlements, highlighted the importance of cybersecurity for central bank digital currencies (CBDCs) during a conference in Basel, Switzerland, emphasizing the need for secure, user-friendly, and adaptable systems.
NY Fed's digital currency Test Reveals Feasibility
The Innovation Center of the Federal Reserve Bank of New York (NYIC) has successfully completed its proof-of-concept of a regulated liability network (RLN), which was carried out in collaboration with nine significant financial institutions and the Swift network.
Bank of Korea Prepares for 2024 Public Trial of Its Central Bank Digital Currency
The Bank of Korea, South Korea's central bank, is setting the stage for its first public trial of a Central Bank Digital Currency (CBDC) in 2024.
Massive Online Transition for Tax and Fee Business in China, Digital Yuan Payment in Pilot Use
Shen Xinguo, Director of the Taxpayer Services Division of the State Administration of Taxation, announced that 96% of tax matters and 99% of tax declarations in China can now be handled online, marking a significant move towards digitalization in the country's financial sector.
Canadians Consulted on Digital Currency
The Bank of Canada has opened a public consultation until June 19 to gauge what features Canadians would like to see included in a digital Canadian dollar. The bank clarified it was not beginning work on a CBDC or replacing cash but was looking to explore the concept.
Texas lawmakers propose gold-backed state digital currency
Two Texas lawmakers have introduced bills proposing a state-based digital currency backed by gold, with each unit of the currency representing a fraction of a troy ounce of gold held in trust. The bills are set to take effect in September 2023, but have yet to be passed or presented for a vote. This move comes despite objections from several U.S. lawmakers who are against the introduction of a central bank digital currency (CBDC).
Thai Political Party Proposes $300 Digital Currency Stimulus
The Pheu Thai Party in Thailand has proposed giving all residents 16 years and older a digital currency stipend of $300 if it wins the next election. The initiative is a stimulus project aimed at helping the local economy using blockchain technology.
Thai Political Party Proposes Digital Currency Stimulus
The Pheu Thai Party in Thailand plans to give all Thai residents over the age of 16 a stipend of $300 in digital currency if the party wins the next election. The initiative aims to stimulate the local economy using blockchain technology.
NanoLabs sues Coinbase over Nano trademark infringement
NanoLabs, the company behind digital currency Nano, has filed a legal complaint against Coinbase in the California Northern District Court for alleged trademark infringement. The complaint states that Coinbase's Nano Bitcoin futures contract and Nano Ether futures contract products infringe on NanoLabs' trademark rights, causing economic damage and harm to its brand identity. NanoLabs is seeking at least $5 million in damages, an injunction against Coinbase, and forfeiture of all profits made using Nano trademarks.
Digital Asset Protection Firm Coincover Secures $30 Million in Funding Round
Foundation Capital and CMT Digital invest $30 million in Coincover to safeguard digital assets.