Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network.
Bitcoin and Ether both fell below key price levels earlier but returned above as investors remained optimistic after the U.S. Securities and Exchange Commission (SEC) accepted the second Bitcoin exchange-traded fund (ETF) application for review, from asset manager Valkyrie.
Stablecoins play a pivotal role as a safe-haven medium of exchange in times of high inflation, writes James Glasscock. But they’re not without risks.
Bitcoin dipped under US$30,000 in early Asia trade before recovering. Ether and other top 10 cryptocurrencies fell, while NFT trading slumped.
The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”
XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).
As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.
Beijing municipal government plans to train 10,000 engineering talents each year in emerging technologies including blockchain, AI and big data.
The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.