Japan’s largest bank, Mitsubishi UFJ Trust (MUFJ), plans to issue a yen-pegged stablecoin in 2023 for instant settlement of securities transactions, according to Nikkei Asia. Fast facts By accelerating the settlement process, Mitsubishi UFJ hopes to cut costs arising from settling securities transactions by fiat, which usually takes a few days to process. Japan’s Financial…
After a poor start to the year, the market needed some good news. Industry watchers urge caution.
The Reserve Bank of India’s (RBI) digital rupee will run on a government-mandated electronic wallet that will allow the central bank to be the middleman between merchants and customers, a top government official told the Press Trust of India. Fast facts The government official said the nation’s central bank digital currency (CBDC) is likely to…
A prominent Russian lawmaker has proposed a personal income tax rate of at least 15% for crypto miners, according to local media reports, as the country continues to debate regulations for the industry. Fast facts Vladimir Gutenev, who chairs an industry committee at the Duma, parliament’s lower house, said at a Friday briefing that mining…
Unique non-fungible token (NFT) buyers hit an all-time high (ATH) in January with more than 895,000 shoppers, according to data tracker CryptoSlam. Fast facts The new ATH recorded an almost 3,000% year-over-year increase and a 6.5% month-over-month growth. The number of unique sellers grew by almost 14% from December to January with 741,865 vendors, just…
While sales volumes on NFT marketplaces thrive, new data show much of this comes from manipulating sales — painting the whole industry in a different light.
CBDCs are vulnerable to hacking and the powers of quantum computing, cybersecurity expert Amnon Samid writes. Central banks must heed the warning.
Fresh off a US$32 billion valuation, crypto derivatives exchange FTX Trading said Wednesday it will acquire its Japanese competitor Liquid Group and all its subsidiaries. Fast facts The deal is expected to close in March, according to a Liquid release. “Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its…
Vitalik Buterin caused an uproar over his recent criticisms of blockchain bridges. Here is a rebuttal in support of this nascent technology.
A 30% tax doesn’t legalize cryptocurrencies but exchanges no longer worry about a ban, while investors would pay taxes at twice the rate of other asset gains.