DCG-backed Korean exchange faces closure if it can’t find banking partner

South Korean crypto exchange Gopax has told users if it can't resolve its banking difficulties before a looming regulatory deadline it will need to shut down. South Korean crypto exchange Gopax, which is backed by Digital Currency Group, is facing potential closure ahead of the country’s fast-approaching deadline for platforms to submit their requests for an official operating license.To be eligible for a license, all crypto exchanges must show evidence that they are operating using real-name accounts at South Korean banks.

Coinbase Applies to the National Futures Association for Trading Crypto Futures

Digital currency exchange Coinbase is working hard to become a qualified cryptocurrency derivatives commission merchant.

NatWest Bank Chairman has this timeline in mind for UK CBDC Pilot

Many countries have been more than comfortable with the development of a central bank digital currency [CBDC], rather than with adopting cryptocurrency.

Turkish central bank taps local tech firms for digital currency R&D

The Central Bank of the Republic of Turkey has singed agreements with various firms to form the Digital Turkish Lira Collaboration Platform. The Central Bank of the Republic of Turkey (CBRT) has made a major step forward with a research and development project that could see the Turkish lira go digital.On Sept.

As Leading Cryptos Dip Lower in Value, Elrond, Osmosis, Tron, Cosmos Token Values Climb

On Sunday, digital currency markets have seen some slight improvements but overall since September 6, 2021, the $2.21 trillion cryptocurrency market capitalization is down 9.79% from $2.45 trillion.

Grayscale’s BCH, LTC, ETC Trusts Now One Step Closer to Becoming ETFs

On Friday, Grayscale Investments, the world’s largest digital currency asset manager in terms of assets under management (AUM), revealed that three trusts have been filed with the Securities and Exchange Commission (SEC) in order to become SEC reporting companies.

Diem struggling to win over officials in Washington despite rebranding efforts

Diem’s push to launch stablecoins and a global payment system might suffer from the seemingly brewing anti-crypto sentiment among key US policymakers. Facebook’s ambitious digital currency payment project Diem is yet to get off the ground despite concerted attempts to win over financial regulators.According to The Washington Post on Friday, Diem is facing difficulties smoothening regulatory wrinkles with senior policymakers in the Biden administration.Even with the full weight of Facebook’s significant lobbying power in Washington, the digital currency project is yet to get off the ground.Reports indicate that David Marcus, Facebook Financial (F2) head, met with regulators in Washington earlier in September.

Countdown to Cardano’s Hard Fork: Goguen Phase Smart Contracts ‘Represent a Big Step Forward’

The digital currency network Cardano is two days away from the upcoming hard fork on September 12 and the community is expecting to see functional smart contracts.

China's digital yuan trial extends to E-commerce giant Meituan

Chinese trials for its digital currency are going forward with Meituan, a leading e-commerce platform service in China.

Mastercard acquires major crypto forensics outfit CipherTrace

The global payments giant plans to incorporate the crypto intelligence project into its digital currency expansion plans. Mastercard’s focus on crypto and digital currencies appears to have taken a greater dimension given the company’s recent move.According to a release on Thursday, the global payments giant has reached an agreement to acquire CipherTrace, a blockchain intelligence firm with crypto forensics capabilities for over 900 cryptocurrencies.As part of the acquisition, Mastercard says it plans to integrate CipherTrace’s operations into its own cyber security solutions for digital assets.According to the announcement, Mastercard will combine its cyber capabilities with CipherTrace technology to differentiate its card and real-time payments architecture.

As Bitcoin debuts in El Salvador, Honduras and Guatemala study CBDCs

Honduras and Guatemala are studying central bank digital currencies and the value they could bring to their respective monetary systems. Two Central American countries, Honduras and Guatemala, are taking a cue from their common neighbor’s adoption of Bitcoin (BTC), but they are taking a very different road. Instead of embracing an existing cryptocurrency as a legal tender, like what El Salvador did, the central banks of Honduras and Guatemala are currently studying central bank digital currencies or CBDCs.Following the approval of the board of directors, the Central Bank of Honduras kicked off a study “to determine the feasibility of conducting a pilot test issuing its own digital money or a central bank digital currency,” according to Honduras central bank president Wilfredo Cerrato’s remarks at a forum event in Tegucigalpa.He said that the Central American Monetary Council or Consejo Monetario Centroamericano, the highest monetary authority in the region, should address the adoption of digital currencies.In the northwestern corner of the region, the CBDC even has a name.

Project Giant: Nigeria’s CBDC set for pilot rollout on Independence Day

Nigeria’s central bank digital currency will go into pilot testing on Oct.

African Economist Says Regulated Cryptocurrencies Are Reasonable Alternative to Single Trade Currency

A Nigeria-based research and development economist, Gospel Obele, has called “for a unified regulatory mechanism for cryptocurrency trading.” He adds that such regulation of cryptocurrencies can potentially “complement an African digital currency,” hence this needs to be considered.

NFL Bars Teams From Participating in Certain Cryptocurrency and NFT Ventures: Report

According to a recent report, the National Football League (NFL) advised teams that they could not, at least for now, sell non-fungible tokens (NFTs) and sponsorships to digital currency companies.

Harrah’s New Orleans Casino Requires Vaccination Card, On-Line Gambling Surges

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists. Cryptocurrency is moving from virtual exchanges to the gaming sphere as on-line casinos start accepting the digital currency.

Chinese Banks Bolster Digital Yuan Resources Prior to CBDC Debut

Major Chinese banks are beefing up their digital yuan capacities ahead of the imminent launch of the nation’s central bank digital currency (CBDC). Per the Securities Daily (via East Money), a number of the commercial banks that have already begun working with the central People’s Bank of China (PBoC) on pilots for the digital CNY are building up infrastructure that

Solana Taps Another All-Time High Eclipsing Dogecoin’s Market Cap, SOL Jumped Over 300% Last Month

Crypto assets have seen significant gains over the last month and one such digital currency, solana (SOL) has propelled itself into the top ten rankings and recently flipped the crypto asset dogecoin’s market cap position.

Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments

The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments.

BIS Teases More CBDC Interoperability Progress in New Four-nation Pilot

Source: Adobe/Сергей Шиманович The Bank for International Settlements (BIS) is set to step up its central bank digital currency (CBDC) pilot program in a cross-border initiative aimed at testing inter-central bank settlements using multiple CBDCs. The plan is the brainchild of the BIS’s Innovation Hub, which will team up with the four central banks in the Asia-Oceania region,

Digital Currency Firm FTX Acquires Crypto Derivatives Platform Ledgerx

On Tuesday, West Realm Shire Services Inc., the parent company of the crypto exchange FTX, announced that the firm has acquired the Commodity Futures Trading Commission (CFTC) regulated digital currency futures and options exchange and clearinghouse Ledgerx.

Metamask Surpasses 10 Million Monthly Active Users, Climbing 1,800% in 12 Months

On Tuesday, the noncustodial digital currency wallet Metamask announced that the platform has surpassed 10 million monthly active users (MAUs).

Nigeria's central bank partners with fintech firm Bitt Inc for CBDC rollout

The CBN considered Bitt Inc’s experience in the development of the Eastern Caribbean Central Bank’s DCash, launched in April. Barbados-based fintech firm Bitt Inc will be working as the technical partner for the Central Bank of Nigeria for its proposed e-naira digital currency.In a Monday announcement, the Central Bank of Nigeria (CBN) said it had chosen Bitt Inc based on the company’s “technological competence, efficiency, platform security, interoperability and implementation experience.” It also considered the fintech firm’s experience in the development of the Eastern Caribbean Central Bank’s digital currency, DCash, which it launched in April.

110-Year-Old Tech Giant IBM Shortlisted To Create Singapore’s Digital Dollar

The Monetary Authority of Singapore (MAS) just shortlisted multinational tech giant IBM and 14 other companies in an effort to create its own central bank digital currency (CBDC).

Nigerian Central Bank Reveals CBDC Guidelines, Announces Plan to Launch E-Naira Wallet

The Central Bank of Nigeria (CBN) has reportedly confirmed that its e-naira digital currency will have a legal tender and non-interest-bearing asset status.

Nigeria's central bank issues draft guidelines on eNaira CBDC project

CBN says the proposed central bank digital currency will offer parity of value and will operate as a non-interest-bearing CBDC. The Central Bank of Nigeria (CBN) has issued preliminary guidelines for its proposed eNaira digital currency.In a sensitization document sent to commercial banks in the country, the CBN outlined several design features of the central bank digital currency (CBDC).According to the document seen by Cointelegraph, Nigeria’s CBDC is codenamed “Project Giant” and will be pegged to the value of the naira.Thus, the eNaira will offer parity of value but will not be an interest-bearing currency.

Singapore central bank shortlists 15 companies to develop retail CBDC

The 15 finalists will be mentored by the MAS and “be given access to the APIX Digital Currency Sandbox for rapid prototyping of digital currency solutions.” The Monetary Authority of Singapore (MAS) has shortlisted 15 “Global CBDC Challenge” participants to help build an in-house retail central bank digital currency (CBDC).An announcement shared by the MAS shows that the finalists include six companies from Singapore, four from the United States, and one each from Australia, Barbados, Germany, France and Switzerland, out of which only three winners will be selected for deploying a retail CBDC in Singapore.Soon after the Singaporean central bank announced cash prizes for digital currency ideas back on Jun.

Digital Pound Does Not Sound Like a Good Idea to 30% of Brits: Survey

Central bank digital currency launched by the British government is not something desirable for one-third of Britons, while 24% see potential in the move.

US Banking Giant Morgan Stanley Buys Over $250,000,000 Worth of Grayscale Bitcoin Trust Shares

Banking giant Morgan Stanley has made a nine-figure investment in the digital currency investment product Grayscale Bitcoin Trust (GBTC).

Reserve Bank of India to start CBDC trials soon

The Reserve Bank of India has announced that its first digital currency trials may launch as soon as December 2021.

Digital Rupee Trial, No Tech to Implement Crypto Travel Rule + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. CBDC news The Reserve Bank of India (RBI) could commence preliminary central bank digital currency (CBDC) trials before the end of the year, the bank’s governor Shaktikanta Das told CNBC.

China to ‘maintain a high-pressure situation’ on crypto, official says

An official at the People’s Bank of China said that the public should increase its risk awareness and stay away from crypto investments. China has reportedly doubled down on its crypto crackdown with a public reminder stating that Bitcoin (BTC) and other digital currencies “are not legal tender and have no actual value.”In a local media briefing, Yin Youping, the deputy director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC), said the central bank will maintain a “high-pressure situation” and continue to crack down on digital currency-related transactions.

Biteeu: the first space-based digital currency exchange

In an announcement from Cape Canaveral, Florida on the 30th June 2021, it was revealed that Biteeu had successfully launched its digital security infrastructure into space.

Poll shows Brits concerned over the prospect of a digital pound

In a recent survey, British adults expressed concerns of personal privacy and government interference on the prospect of a government-backed digital currency. The results of a recent survey undertaken by Redfield & Wilton Strategies on behalf of Politico suggest that a plurality of the British adult population hold visceral concerns surrounding a Bank of England (BOE)-issued central bank digital currency (CBDC).The 2,500 British adults surveyed in the study in early August expressed doubts and concerns on the inherent societal benefits of the issuance of a CBDC by the Bank of England.According to the data, 30% of participants believe that a “Britcoin” CBDC is “more likely to be harmful than beneficial to the UK,” with 24% believing that it could be beneficial, while the remaining participants at 46% were undecided. A d

South Korean CBDC Pilot is Now Underway and Samsung is Onboard

The South Korean central bank, the Bank of Korea (BOK), has officially begun testing its prototype of digital KRW. The bank has decided to carry out a two-stage central bank digital currency (CBDC) pilot, with the first stage running from this week until June next year, tasked with testing focus on tech feasibility and utility.

Centre clarifies USDC reserves composition, citing 'regulatory landscape'

USD Coin's (USDC) recent growth has become an important aspect of the digital currency-enabled financial system.

Why Fantom CBDC Could Be a Game Changer

After the success of stablecoins, more and more banks are developing their native Central Bank Digital Currency (CBDC) solutions.

Why Chinese Banks Are Adding Digital Yuan To Apps? Here’s What You Need To Know

The Chinese Central Bank Digital Currency (CBDC) is progressively spreading out to more users.

Largest Crypto Seizure In Australia: Police Seize $6M Worth Of Digital Currency

The percentage of illegal crypto transactions, according to this Chainalysis report, is about 2% of total transactions.

Here's why this country's central bank thinks CBDCs are 'not necessary'

While most central banks around the world are moving to curb cryptocurrencies and replace them with a central bank digital currency [CBDC], Costa Rica has different plans.

Digital Yuan May Prompt CBDC-to-CBDC Exchanges, Hurt USD Status - Chainalysis

As the Chinese government clamps down on decentralized cryptocurrencies and seeks to launch its own central bank digital currency (CBDC), the digital yuan, industry observers believe the move could pave the way for the launch of CBDC-to-CBDC exchanges.

British Lloyds Banking Group Recruits Digital Cryptocurrency Experts

British retail banking giant Lloyds Banking Group is looking for digital cryptocurrency experts as a digital currency and innovation senior manager.

Ukraine Plans to Pilot CBDC Digital Hryvnia for Salary Payments

Ukraine has announced pilot testing plans for central bank digital currency to pay the national digital currency (CBDC) to its workers' salaries.

Thailand's central bank outlines safeguards for a future retail CBDC

The results of a new study from the Bank of Thailand point to three key considerations for making sure a retail central bank digital currency doesn't adversely impact financial stability.

Ukraine to push CBDC pilot by paying employees in digital hryvnia

Ukraine's Ministry of Digital Transformation is planning to compensate its employees with its central bank digital currency [CBDC].

Ukrainian ministry considering digital currency pilot for staff salaries

Paying ministry employees in e-hryvnia could be a suitable first pilot for the central bank digital currency currently in development. Mikhail Fedorov, Ukraine’s Deputy Prime Minister and the head of the country’s Ministry of Digital Transformation, has revealed a possible early use case for the nation’s planned central bank digital currency (CBDC).In a recent interview published by Ukrainian media outlet TSN, the minister revealed considerations within the ministry to test out the CBDC by using the electronic currency in staff salary payments:“Frankly as one of the first pilots, we have on the table the question of paying salaries to employees of the Ministry of Digital Transformation in electronic hryvnia.”Fedorov made these comments while arguing the case for the initial roll-out of the e-hryvnia to focus on a small, controlled use case rather than being deployed for social payments.

Ukraine’s Digital Ministry Plans to Pay Employees With Digital Hryvnia in Pilot Project

Employees of Ukraine’s Ministry of Digital Transformation may become the first in the country to get their salaries in digital currency.

Robinhood shareholders want crypto wallets and a hat

Currently, users of popular stock and digital currency trading app Robinhood users can't move their crypto off the platform.

Multi-Billion Dollar Financial Services Firm Lloyds Looks to Hire a Digital Currency Expert

Lloyds Banking Group, the British parent company of Lloyds Bank, is currently hiring a “digital currency [and] innovation senior manager,” according to a recent job listing posted to BYP Network.

Retail Giant Walmart Hunts for ‘Digital Currency and Cryptocurrency Product Lead’

North American retail giant Walmart is on the hunt for a cryptocurrency product lead to take charge of the company’s digital currency strategy.

Ghana’s digital cedi must emulate cryptocurrencies, Afroblocks states

Afroblocks’ co-founder urges Ghana’s central bank to involve the in-house crypto experience and expertise to help the e-cedi succeed. The latest central bank digital currency (CBDC) initiative from the Bank of Ghana (BoG) has been met with skepticism as Afroblocks, an in-house independent association, speculates the lack of clarity on the central bank’s intentions. Afroblocks (previously Blockchain Society Ghana) has warned the BoG to steer away from “old traditional siloed financial thinking” while planning and developing its digital currency.

Bank of Ghana Urged to Resist Developing a CBDC Based on ‘Old Traditional Siloed Financial Thinking’

A Ghanaian blockchain and crypto association, Afroblocks, has warned the Bank of Ghana (BOG) to resist the urge to develop a central bank digital currency (CBDC) that is based on the “old traditional siloed financial thinking.” Afroblocks Not Consulted Afroblocks (formerly Blockchain Society Ghana) instead wants the central bank to emulate “financial projects that are […]

Samsung to Aid Bank of Korea in Central Bank Digital Currency Pilot Program

Samsung, the Korean tech giant, has decided to participate in a central bank digital currency (CBDC) program that is being carried out by the Bank of Korea.

Retail Giant Walmart Hiring ‘Cryptocurrency Lead’ to Develop Digital Currency Strategy and Products

Walmart, the world’s largest retailer, is hiring a “digital currency and cryptocurrency product lead.” The company says it “enables broad set of payment options for its customers” and is developing a “digital currency strategy and product roadmap.” Walmart Developing Crypto Strategy and Product Roadmap Retail giant Walmart posted a job opening for a “digital currency […]

Walmart seeks crypto product lead to drive digital currency strategy

Walmart’s future digital currency and crypto product lead would be based in the company’s home office in Bentonville, Arkansas. North American retail giant Walmart is looking for an experienced crypto expert who can develop and drive an ambitious digital currency strategy and product roadmap. In the listing for the role, Walmart indicates it is looking for someone who has a track record in leading and scaling businesses, with at least 10 years of experience in product/program management and technology-based product commercialization.

Walmart Hires Digital Currency and Cryptocurrency Product Lead

The multinational retail giant in the United States, Walmart, is hiring managing position in charge of cryptocurrency and digital products.

Bank of Korea Initiates CBDC Pilot Plan on Samsung Galaxy Smartphones

Samsung Electronics will participate in South Korea’s Central Bank Digital Currency pilot project.

Walmart Hiring Digital Currency and Cryptocurrency Product Lead

US retail giant Walmart has posted a position for a cryptocurrency product lead on its website and careers platform LinkedIn a few hours ago.

Pro-Crypto House Lawmakers Are Fighting Digital Currency Clause in Infrastructure Bill

As the heavily debated infrastructure bill makes its way through Congress, proponents of cryptocurrencies are speaking up in the US House of Representatives in an effort to combat controversial crypto legislation.

How Samsung Will Help The Bank Of Korea With CBDC Development

Started by the end of July 2021, the Bank Of Korea central bank digital currency (CBDC) project has been gaining traction.

Bank of Ghana Selects German Technology Firm as Partner for CBDC Project

The Bank of Ghana (BOG) says it has signed an agreement with Giesecke Devrient (GD) to implement a pilot central bank digital currency (CBDC) project.

President of Argentina open to Bitcoin and a CBDC but central bank says no

Argentina’s president is open to the idea of central bank digital currency but the country’s central bank head has rejected the idea. Argentina President Alberto Fernandez has indicated support for digital assets, asserting there is no reason to push back against the emerging asset class.During an interview with local media outlet, Caja Negra, on August 12, Fernandez responded to a question about whether he would consider exploring a central bank digital currency (CBDC), or even recognize Bitcoin as legal tender as El Salvador did earlier this year.“I don’t want to go too far out on a limb [...] but there is no reason to say ‘no’,” Fernando stated, adding: “They say the advantage is that the inflationary effect is largely nullified.” Inflation was a defining issue for the administration of Argentina’s previous president, businessman Mauricio Macri.

Augmented Reality-Based Dogemon Go Mobile Game Allows Players to Earn Dogecoin

Following this year’s hype toward the meme-based digital currency dogecoin, a team of developers revealed the launch of an augmented reality (AR) mobile game called “Dogemon Go.” Similar to the AR game Pokémon Go, players catch virtual characters dubbed “Dogemons” and while characters level up they can earn dogecoin for rewards.

The Bank of Ghana Cooperates with German Giesecke+Devrient to Conduct its CBDC Pilot

The Bank of Ghana has launched cooperation with Giesecke+Devrient to conduct a pilot project for its Central Bank Digital Currency (CBDC) in West Africa Ghana.

Poland Should Either Join Eurozone Or Issue Own CBDC - Stock Exchange CEO

To maintain Poland’s capacity to freely conduct its monetary policy, the country’s authorities will need to make a choice: join the eurozone, or launch a national central bank digital currency (CBDC), according to Marek Dietl, CEO of the state-controlled Warsaw Stock Exchange (WSE). The National Bank of Poland (NBP) may be forced to issue its digital zloty to preserve

Bank of Ghana to pilot CBDC with German securities printing firm G+D

Originally specialized in currency and securities printing, Giesecke+Devrient has been increasingly working with central banks like the Bank of Thailand in piloting CBDCs. The Bank of Ghana (BoG) is making another step towards the development of a central bank digital currency (CBDC) by partnering with a German currency technology provider.The BoG officially announced Wednesday that it signed an agreement with German banknote and securities printing company Giesecke+Devrient (G+D) to pilot a retail CBDC in Ghana, West Africa.As part of the agreement, G+D will provide its proprietary CBDC solution known as Filia to pilot the issuance of a digital form of Ghana’s national currency, the cedi.

Report: Nigeria’s Digital Currency to Be Designated ‘Critical National Infrastructure’

According to a report, the Central Bank of Nigeria (CBN) is planning to have its proposed digital currency designated “critical national infrastructure” in order to protect it from operational and cyber-security risks.

Bank of Jamaica mints the first batch of national digital currency

The Bank of Jamaica plans to issue a total of $1.5 million of CBDC to institutions and authorized payment service providers as part of a pilot ending this December. Jamaica is aggressively progressing with the country’s central bank digital currency (CBDC) as the Bank of Jamaica, or BOJ, has minted the country’s first batch of CBDC.The BOJ officially announced that its dedicated CBDC division demonstrated the process of minting digital currency at a financial ceremony on Monday.The issuing process for a digital version of the Jamaican dollar (JMD) was carried out with participation from Jamaica’s finance minister Nigel Clarke, BOJ governor Richard Byles and a group of senior BOJ executives, as well as a management team from Irish technology firm eCurrency Mint.According to the announcement, the BOJ is planning to issue a total of 230 million JMD ($1.47 million) in the form of a CBDC to deposit-taking institutions and authorized payment service providers as part of a digital currency pilot ending this December.Minister Clarke noted that the Jamaican government has seen rapid progress in the development of the country’s digital currency project, highlighting its crucial role in the creation of a digital economy in the island country.

Crypto Company Circle Seeks To Become Global Digital Currency Bank

The company behind the increasingly popular USDC stablecoin dreams big.

Circle plans to become a full-reserve national digital currency bank

Circle is willing to operate under supervision of the Federal Reserve, the US Treasury, the OCC, and the FDIC, CEO Jeremy Allaire said. Goldman Sachs-backed digital payment company Circle has officially disclosed plans to become a full-reserve national digital currency bank in the United States.Announcing the news on Monday, Circle co-founder and CEO Jeremy Allaire noted that Circle is willing to operate under the supervision and risk management requirements of the Federal Reserve, the US Treasury, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation.“We believe that full-reserve banking, built on digital currency technology, can lead to not just a radically more efficient, but also a safer, more resilient financial system,” Allaire stated.The CEO added that Circle anticipates the company’s stablecoin USD Coin (USDC) will grow t “hundreds of billions of dollars in circulation,” continuing to support high-trust economic activity and becoming a popular tool in financial services and internet commerce applications.

India Plans to Unveil Central Bank Digital Currency Model by Year End

The deputy governor of India’s central bank, the Reserve Bank of India (RBI), says the bank should be able to come up with a central bank digital currency (CBDC) model by the end of this year.

USDC Issuer Circle Set to Turn Into Full-Reserve National Commercial Bank

Jeremy Allaire. Source: a video screenshot, Youtube, IMF US-based crypto company Circle, the issuer of the second-most popular stablecoin USD Coin (USDC), said it's on a journey towards becoming "a national digital currency bank." Per today's post by the company's CEO Jeremy Allaire, in their founding documents, Circle "envisioned that we could build a global digital currency bank,

Samsung to join Kakao for offline trials of South Korean CBDC

South Korea has been taking big steps towards the development of its central bank digital currency [CBDC].

India might launch its CBDC model by December 2021, but here's the problem

While regulatory clarity on the question of cryptocurrencies is still lacking, India is ramping up its efforts to develop its own central bank digital currency [CBDC].

Cambodia explores cross-border transactions of CBDC-like Bakong

Launched in late 2020, Cambodia’s digital money project Bakong reached 200,000 users in June, doubling from three months earlier. The National Bank of Cambodia (NBC) continues progressing with its central bank digital currency-like initiative known as Bakong, disclosing several project milestones.NBC’s director-general and the Bakong project lead Chea Serey said in a Wednesday interview with The Nikkei that Bakong’s electronic wallet reached 200,000 users in June, doubling from three months earlier.

Venezuela to Launch its Central Bank Digital Currency in October

The Central Bank of Venezuela officially announced to launch central bank digital currency (CBDC) in October this year.

Samsung ‘Will Join Kakao’ to Trial Offline Payments for S Korea’s CBDC

Source: Adobe/S_E Two Samsung affiliates are reportedly set to join a number of Kakao subsidiaries in piloting the Bank of Korea (BOK)’s central bank digital currency (CBDC) prototype – with reports claiming the electronics giant will test offline payments made using its Galaxy smartphones. Per Hanguk Kyungjae and multiple other South Korean media outlets, Samsung and the BOK have refused to

Fed governor says CBDCs remain 'a solution in search of a problem'

Chris Waller’s comments come after Jerome Powell said the Federal Reserve would be issuing a discussion paper on CBDCs. Chris Waller, a member of the Board of Governors of the Federal Reserve System, seems to think it’s unnecessary for the US government to develop a central bank digital currency.Speaking with Michael Strain of the American Enterprise Institute today, Waller said he was “highly skeptical” of a central bank digital currency, or CBDC, addressing issues in existing payment systems.

Crypto Loans Still Booming, Bitcoin Losing Its Share

Digital currency prime brokerage Genesis said its new loan originations increased almost 700% year-over-year to an all-time high of USD 25bn in this year's second quarter and were also 60% higher than in the first quarter this year.

Survey Shows 40% of US Crypto Owners Forget Their Password, 20% Write Passwords on Paper

According to a recent study on crypto asset storage and passwords, a survey that polled over 1,000 digital currency owners shows 39.7% have forgotten their passwords.

NCR Corporation Acquires Crypto ATM Provider LibertyX to Introduce a Complete Digital Currency Solution

Atlanta-based leading enterprise technology provider NCR Corporation in Georgia State announced the acquisition of cryptocurrency software provider & cryptocurrency ATM provider LibertyX. (Re

China's Digital Yuan vs Bitcoin

China has the most advanced central bank digital currency project of all major economies.

Jihan Wu’s Matrixport Raises $100 Million — Singapore Startup Joins Growing List of Crypto Unicorns

Matrixport, the digital currency financial services company co-founded by the former Bitmain CEO Jihan Wu, has revealed the company has raised $100 million in a Series C financing round.

While GBTC Bitcoin Stacking Slows, Grayscale Accumulates Alternative Crypto Assets

Established in 2013, the firm Grayscale Investments has managed to become the world’s largest asset manager for digital currency.

Analysts Discuss Bitcoin Over-the-Counter Desks Bubbling With BTC Demand

Digital currency markets have been gathering gains again moving past the lows seen a few weeks ago.

Leader of Nigerian Crypto Stakeholders’ Body Welcomes the E-Naira — Says It ‘Comes With No Magic Wand’

Nigeria’s proposed digital currency, the e-naira, is likely to be a welcome boost to ongoing efforts to reduce the number of Nigerians that are financially excluded, a leader of a stakeholders’ body has said.

Ukrainian President Signs Law Opening Door for Digital Hryvnia, Regulatory Sandbox

President Volodymyr Zelensky has signed a law that will allow the National Bank of Ukraine to issue its own digital currency.

Central Bank Governor: South Africa’s Digital Currency Study Ongoing

South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency.

Ukraine central bank now officially allowed to issue digital currency

Ukraine’s newly-signed law titled “On Payment Services” requires close cooperation between the National Bank of Ukraine and private startups in the payment market. The Ukrainian government is moving forward with its central bank digital currency (CBDC) plans, as the National Bank of Ukraine (NBU) is now officially authorized to issue a digital currency.Ukrainian President Volodymyr Zelenskyy has signed the law titled “On Payment Services,” officially enabling the country’s central bank to issue a CBDC, the digital hryvnia, according to a Thursday announcement.The new law authorizes the NBU to set up regulatory sandboxes for testing payment services and instruments based on emerging technologies.

IMF to Play a Crucial Role in Monitoring Digital Money Evolution

The IMF is set to play a crucial role in monitoring the advancement of digital currencies.

FinCEN's new digital currency advisor says crypto's 'just another means of payment'

FinCEN digital currency advisor, Michele Korver, believes cryptocurrency is a natural evolution in financial technology. Michele Korver, the first-ever chief digital currency advisor for the Financial Crimes Enforcement Network’s (FinCEN), believes crypto assets are just another way of transferring value.Speaking to Law360 on July 29, the newly appointed Korver said cryptocurrency was "just another means of payment or value transfer that's developed over time, just like any financial technology." Korver offered a cool assessment of the digital asset sector, describing it as a natural evolution.

IMF intends to 'ramp up' digital currency monitoring

The fund will greatly expand to cover all aspects of digital currency while also working with related financial institutions.

Bitop: Connecting traditional finance with blockchain assets

Over 50 million people around the world participate in global digital currency transactions, while this number accounts for a mere 1.25% of the world population it is set to grow in the coming years aThe post Bitop: Connecting traditional finance with blockchain assets appeared first on AMBCrypto.

Digital currency may be an answer to help the unbanked, Sen. Warren says

Democratic Senator Elizabeth Warren appeared to have softened her stance on the crypto industry in recent remarks. Senator and former United States presidential candidate Elizabeth Warren believes that the digital asset industry may be a tool to tackle some challenges in the traditional financial system.A known skeptic of cryptocurrencies like Bitcoin (BTC), Warren appeared to have softened her stance on the crypto industry in a CNBC Squawk Box interview on Wednesday, stating that digital currencies could be an instrument to bank the unbanked:“There has been an enormous failure by the big banks to reach consumers all across the country.

One-tenth of Russians ready to get salaries in digital ruble, report says

A new survey of 3,000 Russians suggested that most people strongly disagree with receiving salary payouts in a state-controlled digital currency. Amid the Bank of Russia continuing progressing with its central bank digital currency (CBDC) development, one survey suggested that few Russians are ready to accept salary payments in the digital ruble.Almost half of the Russian respondents strongly objected to receiving salaries in the digital ruble in a new survey by local recruitment site HeadHunter.

'Facts' That We 'Know' About Crypto are 'Wrong' - Senate Hearing Witness

Angela Walch. Source: A video screnshot, Youtube/MIT Digital Currency Initiative The US Committee on Banking, Housing, and Urban Affairs (aka the Senate Banking Committee) today holds an important hearing called 'Cryptocurrencies: What are they good for?' - and while some list world-changing benefits of using cryptoassets like bitcoin (BTC) or ethereum (ETH), a witness argues that much of what we

Pennsylvania legislature mulls crypto task force bill

The proposed crypto task force will examine the impact of crypto and digital currencies across the Commonwealth of Pennsylvania. A bill to establish a crypto task force in Pennsylvania has been introduced in the state’s General Assembly.According to the details of HB1724 published by LegiScan, the proposed crypto task force will be mandated to examine the potential impact of widespread crypto and digital currency adoption in the state.A moderately partisan bill introduced by eight Democratic and two Republican members of the General Assembly, the proposed legislation, if passed will be known as the “Digital Currency Task Force Act.” Introduced back on July 19, the bill has been referred to the Committee on Commerce.Outlining the duties of the proposed task force, the bill stated the agency would determine the number of cryptocurrencies being traded in the state and the exchange platforms operating in Pennsylvania.The task force will also look into investment entities seeking large-scale exposure to crypto and digital currencies and the potential tax implications of cryptocurrencies on State and local taxes.Pennsylvania’s crypto task force bill also seeks to evaluate the transparency of the crypto marketplace, especially in price manipulation and other illegal activities.

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