Stablecoins could pose risks to global financial system, Chinese central bank official says
Warning comes as Beijing ramps up efforts to internationalize China’s currency through launch of digital yuan.
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Blockchain-based digital invoicing rollout continues apace in China
China’s blockchain-based digital invoicing systems are being increasingly put into large-scale use in major cities and provinces. Fast facts Blockchain-based digital invoicing is being used in multiple sectors in Hainan Province, China’s only free-trade port. Digital invoicing systems are in use in 2,795 organizations, including courts, schools and banks, according to Securities Daily, a Chinese…
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Jamaican state digital currency set for launch next month
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…
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Israel authorities order seizure of cryptocurrencies from Palestinian resistance group Hamas
Israel’s National Bureau for Counter Terror Financing has issued a seizure order against 84 cryptocurrency addresses associated with Palestinian resistance group Hamas as it looks to confiscate holdings of Bitcoin, Tether, Dogecoin and other cryptos. Fast facts “This action comes after a sizable uptick in cryptocurrency donations to Hamas in May following increased fighting between…
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Spending on crypto-linked Visa cards exceeds $1B in first half of 2021
More than US$1 billion was spent on crypto-linked Visa cards in the first six months of 2021, according to a Visa blog post this week. Fast facts Apart from enabling customers to buy cryptocurrencies like Bitcoin using its cards, Visa has partnered with 50 crypto platforms on card programs — such as Coinbase, the largest…
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Argentina proposes allowing salaries to be paid in crypto
An Argentine lawmaker presented a bill this week to allow employees and those exporting services abroad to be paid in cryptocurrency, Yahoo News reports. Fast facts Congressman José Luis Ramón said that he presented this bill to allow Argentina’s people — whose local currency, the peso, currently suffers from roughly 50% inflation a year —…
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How is blockchain going to disrupt capital markets?
In the first of a special two-part report, Lucas Schweiger of Blockdata explores what the future of capital markets could look like with blockchain-based infrastructure.
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Ethereum: London calling. Will the SEC ever approve Bitcoin ETFs? Foreign miners reap rewards amid China crypto crackdown.
Top blockchain and crypto news: Ethereum upgrade, torque of the town. SEC in snafu over Bitcoin ETFs. Crypto miners flourish amid China fallout.
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Iran crypto mining remains suspended amid blackouts
Iran has continued a suspension of cryptocurrency mining, with Vice President Eshaq Jahangiri urging all licensed miners to stop operating as the country continues to suffer power outages, according to a report by U.Today that cited a Farsi-language tweet by the Tasnim News Agency. Fast facts Jahangiri said the ongoing electricity supply problems could last…
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Chinese firm shut down by central bank for trading cryptocurrencies
China’s central bank has reiterated its ban on cryptocurrency trading and yesterday said it had ordered a company in Beijing suspected of offering software services for crypto trading to shut down as part of an ongoing nationwide crackdown on the crypto industry. Fast facts A Beijing office of the People’s Bank of China and a…