Search results: CBDC

The European Securities and Markets Authority should regulate digital currencies in the European Union, according to a proposal by the Autorité des marchés financiers, France’s securities regulator. Fast facts The AMF said it made sense for a single body to take charge of regulation across the bloc to ensure a Europe-wide framework could be applied, […]

U.S. Treasury Secretary Janet Yellen says that the United States needs “to act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. Fast facts Yellen made her comments at a Meeting of the President’s Working Group on Financial Markets, held on July 19. According to a readout of the meeting, […]

Central bank in apparent push for adoption ahead of Olympics as it doubles up on warning over non-state cryptocurrencies.

As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.

South Korean financial watchdog says the nation’s crypto laws will apply to foreign exchanges.

Cryptocurrency miners blamed for blackouts as government eyes excess electricity for mooted state crypto mining operation.

Solidifying its stance against cryptocurrency like Bitcoin, the Bank of Thailand declared yesterday that it does not support the use of cryptocurrency as a means of payment, likening crypto transactions to “barter trade” as the bank does not consider crypto legal tender. Fast facts Siritida Panomwon Na Ayudhya, assistant governor of payment systems policy for […]

Warning comes as Beijing ramps up efforts to internationalize China’s currency through launch of digital yuan.

The Bank of Jamaica’s much-anticipated central bank digital currency will launch next month, according to a report by the Jamaica Observer. Fast facts Previously due to launch in May, the CBDC will initially be implemented through the National Commercial Bank — the biggest financial institution in the country — before being expanded to other banks […]

The standards-setter for banks around the world wants to subject crypto like Bitcoin to higher capital requirements. What do industry players think?

Japan’s plan to launch a digital yen is likely to come into sharper focus in late 2022, a lawmaker overseeing the ruling Liberal Democratic Party’s digital currency strategy has told Reuters.  Fast facts The Bank of Japan launched the first phase of a central bank digital currency experiment in April. It hopes to move to […]

The Philippine Stock Exchange wants to be the country’s platform for trading crypto assets when regulators issue rules to govern the sector, according to a report by CNN Philippines.  Fast facts Stock exchange President and CEO Ramon Monzon said the bourse’s management had first discussed the idea of setting up a domestic crypto exchange two […]

El Salvador recently became the first country to recognize Bitcoin as legal tender, and it seems unlikely to be the last. Samson Mow, chief strategy officer of Bitcoin technology company Blockstream, looks forward to a future in which Bitcoin edges out fiat currency.

The Chinese city of Xiong’an, a prototype so-called smart city, has launched a new round of digital yuan giveaways. Fast facts Unlike previous giveaways, which have been based on a lottery system, authorities are handing out 3 million yuan in e-CNY based on the number of steps people walk in a bid to encourage fitness. […]

Top blockchain and cryptocurrency news: Binance bounced out of Britain. Musk moves Shiba Inu prices again. China’s digital currency gets ready to roll.

Adoption of e-CNY for urban transport networks marks first step in wider introduction of state-backed digital money.

Hex Trust, a Hong Kong-based digital asset custodian, today announced that it has secured investment from Cyberport, a technology incubator project backed by the Hong Kong government.

In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?

How value is created Our methodology for calculating the value of this market includes tokenized commodity, energy, currency (i.e., stablecoins), gold and real estate projects. Calculations include publicly listed projects found via Blockexplorers. It excludes cryptocurrency, as it’s a native digital asset, as well as DeFi projects because of their extreme volatility. All tokenized assets […]

Although institutional interest in Bitcoin is rising, there is still the volatility conundrum to consider. Bitcoin’s market fluctuations, however, make it a poor store of value. But, at the same time, there is an advantage to keeping capital stored in crypto: cashing out crypto into fiat is almost always a taxable event and not ideal […]

South Korea’s top asset managers are racing to get into the metaverse game while Forkast.News visits a decentralized theme park in Hong Kong.

The Monetary Authority of Singapore is inviting proposals for retail central bank digital currency innovations to improve payment services.

How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.

Kazakhstan is quickly becoming a mining hotspot as China’s mining exodus settles down. In Hong Kong, and update on the e-HKD.

What is blockchain and how can it help smaller companies? A special panel sponsored by Blockchain-based Service Network explores the use cases.

Hong Kong’s financial secretary has reiterated the city’s determination to develop digital versions of the Hong Kong dollar and the mainland Chinese yuan.

Long before most governments, the Asian superpower saw the potential in Bitcoin’s technology to spawn the next internet and a new form of money.

Bitcoin was recovered by the FBI from the Colonial Pipeline ransomware cyber criminals DarkSide, sparking privacy concerns around cryptocurrencies.

Urged on by the authorities, banks have wasted little time in putting e-CNY infrastructure in place, but now comes the hard part — getting people to use it.

Following Israel’s recent tests of a digital shekel, the Palestinian Monetary Authority is looking to launch its own central bank digital currency.

Law enforcement agencies in several countries have arrested suspected members of a crypto-linked cybercrime group believed to be responsible for laundering more than US$500 million from ransomware attacks.

The Bank of Israel is testing its central bank digital currency, the digital Shekel, in a private permissioned ecosystem using Ethereum.

Ant Chain, Ant Group’s technology brand, has launched a new blockchain communication technology at Ant Chain’s first developer conference.

Iron Finance, once a DeFi darling, went from billions to bust in a day. Should investors have seen the crash coming? How stable are algorithmic stablecoins?

Two of China’s largest state-owned banks, the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC), are now offering two-way exchange between fiat cash yuan and e-CNY digital currency through more than 3,000 ATMs in Beijing, according to reports in local media.  Over 3,000 ATMs in Beijing managed by ICBC […]

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

In a recent conference, central bankers from Cambodia and Singapore discuss how digital currencies are transforming existing payment systems for the better.

50 crypto exchanges apply for ISMS in South Korea while Hong Kong sees the birth of a blockchain passport for Covid vaccinations.

Africa has emerged as the region with the highest growth in P2P Bitcoin trading volume over the past six months.

Beijing-based Red Date Technology — the face of China’s ambitious nationwide blockchain service network — receives a big investment boost.

Top blockchain and crypto news: El Salvador bets on Bitcoin as national currency. ETH gains ground on BTC. Beijing dishes out digital yuan in latest trials.

Shijingshan, a site for the upcoming Winter Olympics, has started supporting payments made using the state digital money, known as e-CNY.

Hong Kong will be initiating a study on a digital Hong Kong dollar as part of its plans to “future proof” the city for central bank digital currencies.

Following a digital yuan giveaway announced for Beijing last week, Shanghai will distribute 350,000 red envelopes to people across the city during next week’s Dragon Boat Festival.

After Tether’s legal settlement with New York, USDT’s growth is exploding—dispelling concerns over Tether’s reserves, says Bitfinex CTO Paolo Ardoino.

It is important to distinguish between developing a digital currency for currency digitalization and digitalization of assets or cryptocurrencies so that China can be more focused on preventing risks in the financial sector, said Fan Gang, a Peking University professor and a prominent advocate in China for economic reform. Fast Facts: In a keynote speech […]

Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

The Financial Stability Board has launched a public consultation on global targets for cross-border payments.

The U.S. dollar reigns supreme as the current world reserve currency. Could the USD’s status change with the rise of CBDCs like China’s DCEP digital yuan?

The power of tokenization can fundamentally transform the fabric of the financial system, Singapore’s DBS Bank CEO Piyush Gupta told the Consensus by CoinDesk 2021 conference taking place this week.

Ripple’s CEO Brad Garlinghouse says Ripple was hit hard financially after SEC filed its lawsuit, but the company is now expanding uses for XRP’s technology.

Indonesia is planning to launch a digital version of its national currency, central bank Governor Perry Warjiyo said on Tuesday.

Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.

Kicking the digital won’s development into higher gear, Bank of Korea is calling for bids to be a technology supplier for its digital currency (CBDC) project.

Coinbase Pro adds Solana’s native token, opening the doors for US investors after SOL outperforms Bitcoin and most other cryptos amid market crash.

Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

Around US$1.5 billion of Bitcoin long positions were liquidated today across some of the world’s top crypto exchanges, including Binance and FTX, according to Bybt data.

In a paper released today by a Senate committee, the Australian government announced it is seeking help in establishing a crypto regulatory framework.

As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.

Privately owned Chinese lender continues to target blockchain opportunities as it remains shut out of Beijing’s digital yuan project.

Banks in Singapore are leading blockchain and DLT developments while South Korean game developer WeMade entrusts its US$130 million crypto holdings to KODA.

ADA price holds strong as investors shift to greener cryptocurrencies and Cardano smart contracts get set to launch blockchain into DeFi and NFTs.

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

Yet another U.S. regulatory probe of leading crypto exchange Binance is underway, but CEO Changpeng Zhao isn’t impressed with news headlines.

Other top blockchain and cryptocurrency news: How Dogecoin copycat SHIB coin vaulted into crypto’s top 20. China unveils fingerprint ID for digital yuan.

Ethereum prices rally to new all-time high as Bitcoin’s dominance keeps sliding. Is Ethereum’s upcoming EIP 1559 upgrade boosting its value proposition?

Chutian Dragon and IDEX Biometrics offer DCEP digital currency wallets with fingerprint recognition. The companies say the feature enhances security.

As retail interest in crypto grows, countries around the world are grappling with consumer protection. Asia offers a window into the array of policy responses.

Is it all those new Ethereum ETFs, rising demand for Ethereum from DeFi and NFTs, or lower gas fees fueling ETH’s price jump to yet another all-time high?

Aqumon’s SmartGlobalC aims to meet the rapidly growing demand for Bitcoin exposure for traditional investment portfolios in Asia.