Crypto prices continue to fall: Is the market ailing from the Covid Delta variant?
The price of Bitcoin and other cryptocurrency continue to slide as global failure to contain the Covid Delta variant lead to worries of another economic downturn.
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Hong Kong manga finds virtual home on blockchain as authorities silence publishers
NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.
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Special series: ‘Let’s get serious’ — how blockchain is revolutionizing payment systems
Though Dogecoin and NFTs dominate headlines, their underlying technology — blockchain — is transforming our world in more meaningful ways, according to authors Kosrow Dehnad and Joe Duncan.
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Bitcoin parallel currency plan proves a hard sell in El Salvador
El Salvador’s government may face challenges in making Bitcoin legal tender, as more than three-quarters of the country remains skeptical of the plan, according to a report by Reuters. Fast facts A survey of 1,233 people across El Salvador earlier this month found that 54% of people said Bitcoin adoption was “not at all correct.”…
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SEC says Ripple not entitled to testimony on XRP from ex-director
Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?
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Crypto exchange Gemini plans expansion in Asia and Australia
U.S.-based cryptocurrency exchange Gemini is planning to expand its Asia-Pacific operations to cash in on the region’s growth, the bourse’s Asia-Pacific Managing Director, Jeremy Ng, wrote in a blog post this week. Fast facts The new expansion is to capture the growth of its Singapore office after it was first established last year, he wrote. …
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Bank of Thailand denounces crypto anew, warns against use of crypto as payment
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…
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US$1.5B South Korean ‘kimchi premium’ crypto scheme prompts 33 arrests
Customs officers use foreign exchange law to shut down cycle of foreign remittances and arbitrage.
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Key takeaways from FATF’s latest report on virtual assets
The Financial Action Task Force — the global anti-money laundering and counter-terrorist financing standards-setter — this week released its second 12-month review on virtual assets and virtual asset service providers, and called on countries to implement the revised FATF standards, including travel rule requirements “as soon as possible.” “The global nature of the underpinning technology…
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France, Singapore complete cross-border CBDC test
The Monetary Authority of Singapore and the Banque de France today announced the successful completion of a wholesale cross-border payment and settlement experiment using multiple central bank digital currencies (m-CBDCs). Fast facts The experiment between the two central banks, supported by J.P. Morgan’s Onyx, simulated cross-border transactions and cross-currency transactions involving a Singapore dollar CBDC…