Terra's Do Kwon Talks SEC Subpoena: DeFi 'May Not Fit In Nicely' With Current Regulations

Terra co-founder and CEO Do Kwon believes that friction between the SEC and DeFi may lead to a regulatory framework that favors innovation.

Crypto in the crosshairs: US regulators eye the cryptocurrency sector

US regulators are looking at crypto-related areas, touching on financial regulation, economic innovation and national security. In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.Lately, news headlines are focused on regulators’ concerns over the lack of investor protections in the cryptocurrency market, which has ballooned to more than $2 trillion, and the possible risks to financial stability.National security agencies across the administration of United States President Joe Biden are grappling with high-profile cases of cryptocurrencies playing a role in ransomware attacks, intellectual property espionage, sanctions violations, bribery of government officials and tax evasion. According to a recent report issued by the Financial Crimes Enforcement Network, ransomware-related suspicious activity reports filed during the first half of 2021, which are up 30% from the entirety of 2020, indicate that ransomware is an increasing threat to the US financial sector, businesses and the public The Biden administration is weighing an executive order for federal agencies to study and make recommendations on relevant areas of the crypto industry related to national security, economic innovation and financial regulation.

In Defense of OCC Nominee Saule Omarova

There are many types of financial innovation.

BNPL Pay's governance token BNPL lists on MEXC Global and is live for trading!

After over $70 million USDT in voting power was pledged to vote on Monday, BNPL was listed on the exchange via the MEXC Global innovation network.  Following the launch of BNPL’s liquidity mininThe post BNPL Pay's governance token BNPL lists on MEXC Global and is live for trading! appeared first on AMBCrypto.

Arsenal Innovation Lab launches hunt for Tech startups with £250,000 prize pool

Tech startups focused on fan experience can now apply to the Arsenal Innovation Lab powered by Yolo Group.

The crypto industry is still waiting for its ‘iPhone moment’

The most important innovation that the iPhone brought — which the crypto space needs to gain mass adoption — is the user experience. This year, a great crypto cycle has played out with new all-time highs, euphoria and mainstream media paying lip service to the crypto trend du jour.

Uniswap, dydx, Compound on the rise, but why are there still questions

DeFi seems to be accelerating the next generation of crypto innovation.

Digital Pound Foundation launches to promote CBDC development in the UK

The think tank wants to ensure the United Kingdom keeps pace with the developments in the emerging digital landscape. The Digital Pound Foundation (DPF), a group of technology, innovation, and regulatory experts, has announced its launch as an independent non-profit organization in the UKAccording to a release issued on Thursday, the DPF will work to promote the implementation of a central bank digital currency (CBDC) in the country.Indeed, as previously reported by Cointelegraph, the UK government in April established a CBDC task force to explore preliminary matters related to the creation of a national digital currency.The DPF, as part of its stated mandate, will carry out research and engage in collaboration with stakeholders to support the UK’s CBDC project.In addition to supporting developmental efforts, the foundation will also reportedly advocate for robust regulations for the UK’s CBDC project as well as favorable legal provisions for privately issued digital currencies.According to Jeremy Wilson, chairman of the DPF, the social and technological ramifications of a CBDC for the UK are profound, hence the need for creating the group to provide the necessary support to all stakeholders.The DPF may likely join the cast of payment and fintech experts already lined up by the Bank of England to contribute to the UK’s CBDC development efforts.

Cardano eUTxO 'derived' from Bitcoin; is it 'innovation' or 'replication'

Cardano faced a lot of FUD this year, especially before and immediately after the Alonzo upgrade.

Airdrops, DAOs, token issuance and public domains are the next frontier for NFTs

Innovation in the NFT space moves about as fast as the prices.

US lawmaker is most concerned about Treasury's response to crypto

Exactly 3% of the United States Senate attended the Texas Blockchain Summit on Friday, all addressing their fellow lawmakers' understanding of crypto and blockchain. Wyoming Senator Cynthia Lummis said the Treasury Department may be more of a threat to innovation in blockchain and cryptocurrencies in the United States than the Securities and Exchange Commission or the Commodity Futures Trading Commission.Speaking at the Texas Blockchain Summit in Austin on Friday, Lummis said her recent concerns with the federal agency came from the language concerning brokers of cryptocurrency in the infrastructure bill currently at the center of debate in Congress — Treasury Secretary Janet Yellen has expressed her support of the legislation.

How NFTs managed to thrive in China despite stringent crypto regulations

The pace of innovation, growth, and excitement around NFTs has grown exponentially over the past few years.

Strategic Partnership Established with Pantera, IOSG, and Shima Capital – ViaBTC Capital Makes a Star Blockchain Investor

Joined Forces to Explore the Promising Future  In August 2021, ViaBTC Capital formed a strategic partnership with Pantera, IOSG, Shima Capital, and other institutions to fuel blockchain innovation.

Edward Snowden Calls CBDCs ‘Cryptofascist Currency’ — ‘Closer to Being a Perversion of Cryptocurrency’

On October 9, whistleblower and privacy advocate Edward Snowden published an opinion editorial concerning central bank digital currencies (CBDCs) and claimed CBDCs are “the newest danger cresting the public horizon.” Snowden stressed that rather than being an innovation, CBDC’s are “closer to being a perversion of cryptocurrency” and a “cryptofascist currency.” Snowden Stresses CBDCs ‘Are […]

How to create an environmentally-friendly coin, explained

With increased concern about the carbon footprint that the crypto industry creates, alternative enterprise solutions emerge that can help cut down on the energy costs involved. What’s next for the green movement of the industry?Considering the environmental consequences of blockchain technology has led to recent innovation in the crypto space.

Crypto Industry Getting 'Less Bananas' As It Matures: Galaxy Digital Exec

Tim Grant, Head of Europe at Galaxy Digital, believes crypto is now at an “inflection point” where innovation is meeting mainstream culture. 

SEC and stablecoins: Two experts weigh in on regulations

The SEC is usually seen as an unhelpful regulator, or an obstacle to growing crypto innovation in America.

Is Bitcoin ready to shoulder the next-gen DeFi boom

"Bitcoin is a system of software rules, with no rulers." Alyse Killeen, the Managing Partner of StillMark, recently commented on the possibility of DeFi innovation on Bitcoin, in an interview with BlThe post Is Bitcoin ready to shoulder the next-gen DeFi boom appeared first on AMBCrypto.

US Lawmakers Urge Fed Chair Jerome Powell to Support Crypto Innovation

Several US lawmakers have called on Federal Reserve Chairman Jerome Powell to support cryptocurrency innovation.

Central Banks Should Allow Salaries, Social Transfers to be Paid in CBDCs - BIS

ivate innovation, all the while preserving public trust.The BIS worked on the papers in cooperation with the Bank of Canada, Bank of England, Bank of Japan, European Central Bank, US Federal Reserve, Sweden’s Sveriges Riksbank, and the Swiss National Bank.

Cardano continues to drive innovation, to power healthcare humanoid, Grace

The much-awaited arrival of smart contract integration on the Cardano network has been followed by a diverse range of projects opting to build on it.

Chipper Cash Extends Peer-to-Peer Money Transfer Service to South Africa

Chipper Cash, an African fintech start-up, has extended its peer-to-peer instant money service to South Africa.

South African University Professor Urges Country to ‘Finalize Cryptocurrency Policy’ — Warns Against Resisting Crypto

A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation.

Central Banks Look To Two-Tier Retail CBDC Model Amid Disruption Fears

ral-banks-seek-to-balance-innovation-and-disruption-when--PBC_1303486">report by international risk assessment firm Moody’s.  “Based on existing and proposed pilot schemes, CBDC development is being done in conjunction with existing financial market infrastructure, the two-tier ...

Data shows parabolic-style growth in layer-2-based DeFi and DEX platforms

Layer-2-based DeFi and DEX platforms have seen an incredible surge in user activity, revenue and total value locked since the launch of Arbitrum and Avalanche’s cross-chain bridge. In the increasingly competitive landscape of blockchain technology and cryptocurrencies, protocol innovation and the ability to solve the biggest problems facing the crypto community are necessary for any project that looks to have long-term success in the ecosystem. Recently, the emergence of layer-2 technology like Arbitrum, Optimism and a bridge to the Avalanche ecosystem is revolutionizing the way investors, builders and developers interact with various protocols because each facilitates fast, low-cost transactions that improve the fundamentals of the decentralized finance (DeFi) ecosystem while also making it easier for retail-sized investors to capitalize on opportunities.

Rarestone Capital Announces Strategic Investment in Rainicorn to Bolster Play-To-Earn NFT Farming Economy

Rarestone Capital, an active venture capital fund and accelerator, has announced a direct strategic investment in Rainicorn, a multifaceted platform that has established itself as a hub for innovation in the crossover between NFTs and DeFi, with a focus on gamification.

Cardano To Spark Largest Explosion in Crypto Innovation Since Launch of Ethereum, According to Coin Bureau

The host of Coin Bureau says that Cardano can spark a massive new wave of crypto innovation that will rival the launch of Ethereum.

Bitcoin is great, but real crypto innovation has moved elsewhere

Bitcoin will always be the boss, but the real innovative and groundbreaking developments are happening in layer-2 solutions, DAOs, NFTs with utility and the emerging Metaverse.

Democrat Senator lobbies agencies over the use of crypto in ransomware

Senator Hassan wants federal agencies to take more action while Senator Lummis is more concerned with stifling innovation.

‘Crypto Innovation Hub’: Miami Officially Embraces the First-of-Its-Kind MiamiCoin

The City of Miami, Florida, has voted to accept millions of dollars generated by MiamiCoin (MIA), its very own digital asset.

ZPAE Solves World Retail Challenges Using FinTech at Sharjah Research Technology and Innovation Park

PRESS RELEASE. Sharjah, September 2021 – The Sharjah Research Technology and Innovation Park (SRTIP) issued its third Distributed Ledger Technologies license (DLT) to ZelaaPayAE.

Zip eyes millennials with planned launch of crypto trading in the US next year

Aussie "buy now, pay later" fintech found that BNPL users are 67% more likely to trade crypto than non-users. Australian "buy now, pay later" (BNPL) firm Zip​​, the smaller rival to Square’s recently-acquired Afterpay, is hitching its future growth prospects to the cryptocurrency industry.Zip USA CEO Brad Lindenberg told attendees at the company's first retail investor day that “The innovation around crypto feels like the internet did in 1995.” The company’s interest in crypto has been hinted at previously and has now materialized into a concrete plan: A project that integrates crypto trading functionality for United States users and enables its merchants to accept Bitcoin (BTC) payments.Zip's internal research, which found that BNPL users are 67% more likely to trade crypto than non-users, has bolstered its confidence in the move.

Square Joins Patent Group to Protect and Promote Bitcoin Innovation

Jack Dorsey’s payments firm Square has joined the patent protection consortium the Open Invention Network (OIN). 

BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets

The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies.

Ethereum Competitor Launches $300,000,000 DeFi Fund to Fuel Crypto Adoption

An Ethereum competitor is launching a $300 million fund to support decentralized finance (DeFi) innovation on its network.

Rise of Stablecoins, DeFi Make Central Bank Currencies ‘Urgent’: Bank for International Settlements

According to Benoit Coeuré, head of the Bank for International Settlements’ Innovation Hub, traditional banking is coming under threat.

Algorand Foundation Launched a $300M Fund for DeFi Innovation: ALGO Taps a 2-Year High

The Algorand Foundation announced it had launched a $300 million fund focused on the decentralized finance industry.

IOTA Foundation to support EU blockchain initiative

The IOTA Foundation is one of seven enterprises chosen to support the early-stage innovation of a European blockchain venture. The European Commission's blockchain initiative has selected the IOTA Foundation as one of seven projects to participate in the preliminary stage of designing an EU-wide distributed ledger technology platform. The initiative seeks to increase the efficiency and accountability of the European Blockchain Services Infrastructure (EBSI), a network of nodes dedicated to facilitating the efficiency of EU-centric transactions, as well as the expansion of the region's supply chain through the adoption of emerging technologies, all the while reducing European carbon footprint.

Senegalese locals left disillusioned by lack of progress on Akon City

Akon City, the ambitious ideas for a pan-African crypto-powered smart city in Senegal from rapper Akon, has not progressed past the laying of a ceremonial stone in 12 months. While originally spruiked as a futuristic city inspired by the Marvel movie Black Panther that would emerge as a “beacon of innovation and human development” and bolster the West African and Senegalese economies by Akon in 2018, there are few signs of the city’s development beyond a ceremonial stone that was laid in a field near Mbodiene 12 months ago.According to a report from Agence France-Press, the project has not progressed beyond the stone’s erection, with a small placard promoting Akon City having since fallen from its perch on top of the block.

Binance 'Innovation Zone' project shuts shop as developers leave

Listed on Binance's Innovation Zone, Cover Protocol, a peer-to-peer insurance marketplace shut shop, after its core developers left.

When You Buy an NFT, You Don’t Completely Own It – Here’s Why

Dinusha Mendis, Professor of Intellectual Property and Innovation Law and Acting Deputy Dean (Research), Faculty of Media and Communication, Bournemouth University. _____ NFTs or non-fungible tokens first captured the public imagination when a digital collage by an artist named Beeple sold for USD 69m at Christie’s in March 2021.

Here's what the WEF is proposing instead of an 'ineffective' ban on cryptos

"A clear, constructive and adaptive regulatory environment for cryptocurrencies would lay a foundation for sustainable innovation, competition and transparency, and allow customers and businesses to The post Here's what the WEF is proposing instead of an 'ineffective' ban on cryptos appeared first on AMBCrypto.

Swiss Bank Drops Crypto Asset Service Amid U-Turn On Innovation

In an unexpected turn of events, Switzerland’s Basler Kantonalbank (BKB) has announced it shut down its cryptoasset-focused project in a bid to focus on other sectors set out in its strategy for the years 2022 to 2025.

Central Bank of Brazil Researches Creation of Digital Real

Fabio Araujo, a representative of the Central Bank of Brazil, talked about the possible development of a Digital Real at a public hearing before the Committee on Science, Technology, Innovation, Communication and Information Technology of the Brazilian Senate.

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,

Three DeFi Platforms Changing the Game in Unexpected Ways

2021 has been a period of great innovation in the blockchain space, with the development and launch of a huge range of novel platforms and protocols that have helped to reshape the industry in new and unexpected ways.

This is driving Dubai's cryptocurrency market to do 'fantastically well'

Dubai and the larger UAE have long been touted as rising tech and innovation hubs, providing entry points into Asia and Middle Eastern markets.

The Altcoin Evolution – Part IV: The Challenges – The Sales Pitch

With the ever-changing landscape of tech development and crypto innovation, regulation tends to lag behind in order to have time to react to what’s happening.

Blockchain is as revolutionary as electricity: Big Ideas with Jason Potts

Economics Professor Jason Potts is co-director of the Blockchain Innovation Hub at RMIT University.

Making crypto gambling accessible with CryptoCasinoClub

The innovation brought about by blockchain and cryptocurrency has resulted in major advancements in not only the financial sector but also across other sectors.

Bitcoin Bull Cathie Wood Attracts Big Short Michael Burry To ARK Innovation ETF

After overcoming the subprime mortgage catastrophe, Michael Burry now sets his sights on ETF ARK’s flagship invention from Bitcoin Bull Cathie wood, which finances companies like Square, GBTC, and Tesla.

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.

The Big Short's Michael Burry takes aim at Cathie Wood’s ARK Innovation ETF

Michael Burry called the subprime mortgage crisis and he's now turned his attention to ARK's flagship Innovation ETF which invests in companies like Tesla and Square as well as GBTC. Michael Burry, the investor made famous by The Big Short movie, has taken out a major short position against Cathie Woods’ ARK Innovation ETFAccording to second-quarter 13f filings, Burry’s hedge fund Scion Asset Management has purchased $31 million worth of bearish put options against 235,000 shares of the ETF.

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.

SEC Chairman’s Latest Crypto Move Will Hurt American Innovation, Rep. Patrick McHenry Says

Today, the top Rep. Patrick McHenry (NC-10) said Gary Gensler’s intentions to have more control over the crypto ecosystem were "a blatant power grab that will hurt American innovation."

Coinbase beats earnings estimates as analysts say regulation will ‘stifle’ innovation

COIN exceeded earnings estimates but analysts caution that blanket crypto-sector regulation will “stifle innovation” and possibly cast a shadow on Coinbase's growth. Coinbase Global (NASDAQ: COIN) rebounded during the early trading hours on Aug.11 after it beat Wall Street forecasts for sales and revenues in the second quarter.The cost to purchase one COIN share surged 4.7% to $282.34 at the New York opening bell.

Infrastructure bill passes US Senate — without clarification on crypto

"This legislation imposes a badly flawed, and in some cases unworkable, cryptocurrency tax reporting mandate that threatens future technological innovation,” said Senator Toomey. The fight for lawmakers to clear up the language used to define brokers in the crypto space may be moving to the United States House of Representatives soon after a failed attempt in the Senate.In a 69-30 vote, the Senate passed HR 3684 this morning, a bipartisan bill that proposes roughly $1 trillion in funding for roads, bridges and major infrastructure projects.

'We'll be back on this' — Alabama senator derails crypto amendment with two words

"Who knows how much innovation we’re going to stifle, who knows what kind of new apps never emerge," said Senator Pat Toomey. A compromise which proposed amending provisions in the bipartisan infrastructure deal on crypto failed to meet the requirements of a unanimous consent request in the Senate, making the bill likely to go to a full vote without additional changes.This afternoon, Senator Tom Carper, the Democratic floor manager for infrastructure bill HR 3684, put forth the compromise amendment agreed upon earlier today by Senators Pat Toomey, Cynthia Lummis, Rob Portman, Mark Warner, Kyrsten Sinema and Ron Wyden on providing clarity for what defines a crypto broker.

US Senator Warns Passing Unproven Crypto Law Will Stifle Innovation and ‘Make Americans Poorer’

US Senator Mike Lee has raised concerns that adopting the crypto tax provision in the $1.2 trillion infrastructure bill will stifle innovation and make Americans poorer.

SEC Chairman Says Satoshi Nakamoto’s Innovation Is Real, Crypto Rules Are Clear

The chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, says that Satoshi Nakamoto’s innovation is real.

Bitcoin can't be viewed as an untraceable 'crime coin' anymore

Yes, some criminals use Bitcoin, but the innovation behind this technology improves the financial system. Cryptocurrency is a new technology that has entered the common discourse, setting the stage for a complete upheaval of our long-established financial systems.

South African Start-Up Aims To Shield Merchants From Crypto Price Swings

While opponents of cryptocurrencies continue to peddle the environmental damage or the terrorism funding narrative, users from countries where the majority is financially excluded see these as a breakthrough innovation.

Chainlink Is Building a Billion-Dollar Bridge to a Multi-Chain World

“This innovation is going to make it so that bridges can scale to secure billions,” said Chainlink founder Sergey Nazarov.

Coinbase CEO Brian Armstrong says proposed crypto tax rule makes no sense

The crypto exchange boss is the latest to decry plans to enact sweeping changes to cryptocurrency tax reporting in the United States. Coinbase CEO Brian Armstrong is the latest crypto figure to come out against the wording of the proposed changes to cryptocurrency taxation in the United States.Tweeting on Wednesday, Armstrong stated that the provisions included in the crypto taxation proposal could have a “profound negative impact” on the US crypto space and could force digital innovation to move overseas.As previously reported by Cointelegraph, amendments to crypto taxation rules were a last-minute addition to the $1-trillion infrastructure deal currently before the United States Senate.The Coinbase CEO, like many other opponents of the proposal, faulted the broad language of the bill’s wording.

Three US Senators propose narrowing crypto tax language in infrastructure bill

“While Congress works to better understand and legislate on issues surrounding the development and transaction of cryptocurrencies, it should be wary of imposing burdensome regulations that may stifle innovation,” said Senator Pat Toomey. Lawmakers have written an amendment to an infrastructure bill in the US Senate which proposes excluding certain crypto companies from the reporting requirements for brokers.In an amendment from Oregon Senator Ron Wyden on behalf of himself and Wyoming Senator Cynthia Lummis and with the support of Pennsylvania Senator Pat Toomey, the US lawmakers suggested that some of the provisions in the bipartisan infrastructure deal not apply to developers in the crypto space, miners, and blockchain firms.

Bitcoin 'Innovation Is Real' & 9 Other Key Takeaways From Speech By SEC Chair

This is a speech by the US Securities and Exchange Commission (SEC) chief Gary Gensler before the Aspen Security Forum on August 3. ______ Top 10 key statements: Satoshi Nakamoto’s innovation is real.

US Infrastructure Bill Hurts Privacy, Innovation & Decentralization - EFF

Source: Adobe/DEN_EFC The US Senate draft of President Joe Biden's infrastructure bill "contains a poorly crafted provision that could create new surveillance requirements for many within the blockchain ecosystem" - potentially including developers and other entities who do not control digital assets on behalf of users, according to Rainey Reitman, Chief Program Officer for the

'Nakamoto's innovation is real,' says SEC Chair Gary Gensler

Gary Gensler describes Satoshi Nakamoto as an important innovator in cryptography and that their "innovation spurred the development of crypto assets and the underlying blockchain technology." Gary Gensler, the Chair of the United States Securities and Exchange Commission, or SEC, believes that the blockchain revolution started by Satoshi Nakamoto in 2008 is more than just a fad, but a real value proposition for the future of the internet. In an interview with the Aspen Security Forum on Tuesday, Gesler talked about his role at the Massachusetts Institute of Technology teaching about the intersection of finance and technology: “[...] in that work I came to believe that though there was a lot of hype masquerading as reality in the crypto field, Nakamoto’s innovation is real.” SEC Chairman @GaryGensler on #Bitcoin pic.twitter.com/jhqkbZrnob— Documenting Bitcoin (@DocumentingBTC) August 3, 2021 Gensler noted that, while some within the public sector wish that cryptocurrency would just go away, the technology likely has a big role to play in the future of finance.

Velas launches $5 million funding program

Today Velas is announcing the launch of a major funding program for projects to build upon the Velas Blockchain, driving innovation to the fastest blockchain on the planet — to the tune of $5 millioThe post Velas launches $5 million funding program appeared first on AMBCrypto.

NFTs Will Soon Live in Your Brain – Rent Free

The first wave of non-fungible tokens (NFTs) brought with it mostly speculation on art linked to a blockchain (though not deployed on a blockchain) and a little technological innovation.

Ethereum Celebrates Sixth Anniversary—As Devs Race to Upgrade It

The Ethereum blockchain has become a hub for DeFi, NFTs, DAOs, and innovation since its birth in 2015.

Congressman takes aim at peers who think crypto could cause a ‘financial 9/11’

Characterizing his contemporaries as viewing the crypto sector as a “financial 9/11,” Congressman Ted Budd has warned lawmakers against driving blockchain innovation offshore. Representative Ted Budd of North Carolina, a member of the House Financial Services Committee and Congressional Blockchain Caucus, has urged lawmakers to embrace decentralized innovation.In what appears to be the first occasion in which a publicly elected official has met with a decentralized autonomous organization (DAO), Budd acknowledged the increasing concern about crypto among lawmakers while speaking to MakerDAO’s Chris Cameron on July 29.“There are some on the Senate side and some on the House side which fear, especially when it comes to currency, the blockchain, decentralized finance and how it’s going to evolve,” he said.

Mastercard chooses 7 crypto startups for Start Path accelerator

Mastercard keeps its focus on the digital asset industry, echoing moves by its main competitor, Visa. International payments giant Mastercard continues focusing on the digital asset industry by welcoming a batch of major cryptocurrency startups in its fintech accelerator.The company announced Tuesday a new startup engagement program as part of Mastercard Start Path, an accelerator program for fintech startups, aiming to support companies working with digital assets, cryptocurrency and blockchain technology.The program has added seven new startups, including digital wallet and trading platform Uphold, crypto storage firm GK8, American investment platform Domain Money, blockchain oracle startup SupraOracles, blockchain infrastructure provider STACS, digital asset firm Taurus, and Mintable, a marketplace for issuing and trading nonfungible tokens (NFT).The new additions come in line with Mastercard’s commitment to expand and accelerate innovation in digital asset technology and enable more security for cryptocurrency investors, the company noted.As part of the program, each crypto startup will be solving a unique challenge with the support of Mastercard’s expertise to grow further and develop their solutions.

Solana hackathon aims to bolster crypto innovation in India

Solana invites students, Web 2.0 and Web 3.0 developers, engineers and anyone who is looking to get into crypto. Blockchain platform Solana announced an open invitation to Building out Loud, a hackathon venture exclusively for Indian developers and entrepreneurs.

Blockchain Australia calls the state for crypto safe harbor

The Australian crypto industry “cannot afford to wait years for regulatory clarity,” and consumers require confidence to access crypto services, the Australian blockchain association argued. Blockchain Australia, a major association representing the local cryptocurrency industry, has officially introduced its crypto regulation recommendations to the federal government.The association filed a submission to the Senate Select Committee on Australia as a Technology and Financial Centre last Friday, calling the government to provide a safe harbor for local crypto service providers.Pointing out a set of regulatory recommendations, Blockchain Australia stressed the need for a coordinated and graduated approach to adopt a “fit-for-purpose regulatory framework,” ensuring innovation and competition in the country while enhancing consumer outcomes. The crypto advocates emphasized that local industry “cannot afford to wait years for regulatory clarity,” and local consumers require confidence to access regulated crypto services in the country, stating:“The government and relevant regulators should provide crypto asset providers a safe harbor until such a time that they introduce guidance or legislation.

Crypto Companies Establish Presence, Hire Talent in Ireland

With a friendly attitude towards financial innovation, the Republic of Ireland has become a desired destination for fintech businesses that need unimpeded access to the common European market.

Bitcoin is key to the future of Twitter, Jack Dorsey says

Twitter CEO sees opportunities to integrate Bitcoin into services like commerce, subscriptions and new features like Twitter Tip Jar and Super Follows. Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, will be one of the key trends for the future of Twitter, CEO Jack Dorsey declared.Twitter CEO said that Bitcoin would be a “big part” of the company’s future at the second-quarter earnings call, outlining the digital currency’s potential to further transform Twitter products and services.Referring to Bitcoin as a native currency of the internet, Dorsey described opportunities to integrate BTC into existing Twitter services including commerce, subscriptions and new features like Twitter Tip Jar and Super Follows.The CEO explained to investors that a lot of Bitcoin-enabled innovation is “above just currency to be had,” as Twitter is committed to decentralize social media and provide more economic incentives.

Mars4 Leads Innovation in Blockchain With NFT and DeFi Powered Metaverse

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 20 July, 2021, Metaverses and NFT gaming in the crypto space are very successful and currently the talk of the town with Axie Infinity setting new records in virtual land sales and the likes of Decentraland and Sandbox going from strength to strength.

Study suggests Canadian CBDC could promote digital innovation within the country

The Bank of Canada suggested that a Canadian CBDC could provide a number of innovations, including the elimination of transaction fees from debit and credit cards. A study released by Canada’s central bank, Banque du Canada, has noted a number of favorable reasons that the country could benefit from its own Central Bank Digital Currency, or CBDC.The document laid out two scenarios that might result in the bank issuing a CBDC at some future date.

European Commission Targets Crypto Wallets And Citizens' Privacy

The European Commission (EC) announced "an ambitious package" of legislative proposals that would decrease the privacy of the EU citizens if implemented. "Today's measures greatly enhance the existing EU framework by taking into account new and emerging challenges linked to technological innovation.

Chinese artist showcases NFT real estate at Alibaba-sponsored innovation festival

NFT artworks depicting “socialist cyberpunk” housing are being showcased at the Taobao Maker Festival in Shanghai. This year’s Taobao Maker Festival — an annual event celebrating Chinese art and entrepreneurship hosted by the Alibaba-owned e-commerce platform Taobao — will showcase nonfungible tokens (NFTs) for the first time.This year’s event will see decentralized application platform Near Protocol team up with blockchain gaming firm Web3Games and Chinese artist Huang Heshan to sell NFT-based real estate created by Huang.

Jackson, Tennessee Mayor Praises Bitcoin’s Benefits Against Inflation, Aims to Create a BTC Hub

Jackson, Tennessee’s mayor is a fan of bitcoin and he wants the city to become a bitcoin hub in order to entice technology companies and innovation.

Trust is still a must in the trustless world of cryptocurrency

As transformative an innovation as cryptocurrency is, people remain the primary users, and people require trust. As established by Satoshi Nakamoto's Bitcoin (BTC) whitepaper, the core of cryptocurrency is a peer-to-peer electronic cash system that eliminates the need for intermediaries like banks.

Japanese Regulator Report Suggests DeFi Regulations Could Be Coming

The top Japanese financial and crypto sector regulator, the Financial Services Agency (FSA), has published a report on DeFi, blockchain and crypto – with its authors concluding that there may be a need for the nation to develop regulations for the decentralized finance sphere. The report was the second from the FinTech Innovation Hub, a working group created by the FSA

SOLANAX Has Now Started Their Second IEO Round!

Disclaimer: The text below is a press release that was not written by Cryptonews.com. The IEO has been a recent innovation in the cryptocurrency space, and Solanax, a Solana blockchain-based automated market maker (AMM), has recently started gaining momentum in the crypto community for its upcoming IEO as it is going to be one of the fastest Cross-Chain DEX in decentralised finance or DeFi space.

Bank of America reportedly establishes crypto research team

Candace Browning, the bank's head of global research, described cryptocurrency as "one of the fastest growing emerging technology ecosystems." A new team at the second-largest bank in the United States will reportedly be devoted entirely to researching cryptocurrencies.According to a Thursday Bloomberg report, Alkesh Shah from Bank of America’s data and innovation strategy group will be leading a team looking into digital assets.

Musée – the User Owned NFT Marketplace and Gallery

2021 continues to bear witness to the continual rise in non-fungible token (NFT) prevalence and innovation.

Indian IT giant Tech Mahindra partners on blockchain system for vaccine tracing

Aiming to tackle the supply chain issues that impact the stock and expiry of COVID-19 vaccines, Tech Mahindra and blockchain firm StaTwig will roll out a “VaccineLedger” solution worldwide. As mass vaccination programs against COVID-19 become increasingly critical to many governments' strategies for pandemic management, blockchain firms are acting fast to propose ways in which the technology could offer solutions to some of the logistical hurdles involved.Blockchain company StaTwig — a graduate of the UNICEF Innovation Fund — was already trialing its blockchain-based solution VaccineLedger in 2019, in both India and the United States.

Socios partners with Turkish soccer club union to explore digital revenue models

Turkey’s union of soccer clubs partners with Socios to improve fan engagement in the Turkish Süper Lig through technology and innovation. The soccer world continues to seek out new revenue models amid the coronavirus pandemic, which saw the suspension of league matches in some countries, and new partnerships form to find sustainable answers in the digital space.Representing soccer clubs playing in the Süper Lig, Turkey’s primary soccer league, the Turkish Union of Clubs has partnered with fan engagement platform Socios.com to promote innovation in the country’s soccer landscape, according to a July 1 announcement.“Few countries in the world match the unique passion that Turks feel for the game of football,” Socios and Chiliz CEO Alex Dreyfus told Cointelegraph: “This partnership will benefit the entire Turkish football ecosystem in a critical moment for the industry, in which it is crucial for sports properties to shift their fans’ role from passive to active.”Socios already launched fan tokens for six Turkish soccer teams playing across different leagues.

Glassnode Spotlights 7 Crypto Projects, Says Wave of Innovation Underway Despite Market Downturn

Even as the crypto markets experience prolonged turbulence, the decentralized finance (DeFi) space appears to be alive and growing.

Elon Musk agrees to speak with Twitter CEO Jack Dorsey at Bitcoin event

Dorsey offered to let Musk share all his curiosities about crypto and otherwise at the July 21 event. Tesla CEO and Dogecoin enthusiast Elon Musk may be speaking at an event aimed at educating institutional investors on Bitcoin. In a Twitter discussion with Jack Dorsey overnight, Musk agreed to speak at The ₿ Word, a July 21 virtual event hosted by the Crypto Council for Innovation and featuring major players in the crypto space.

Colombian capital supports blockchain and emerging tech with $2.3M fund

Blockchain development is one of four major programs in Bogotá’s new tech innovation fund.

Major players will speak at a new Bitcoin event aimed at institutional investors

Featured speakers include Twitter CEO Jack Dorsey, Blockstream founder Adam Back, and Ark Invest's Cathie Wood. The Crypto Council for Innovation is hosting a virtual event on July 21 aimed to “destigmatize mainstream narratives about Bitcoin.”According to a Thursday announcement, Square, Ark Invest, and Paradigm are backing The ₿ Word, an event on “how institutions can embrace Bitcoin.” The project scheduled for launch next month will offer featured speakers including Twitter CEO Jack Dorsey, Blockstream founder Adam Back, Ark Invest's Cathie Wood, former acting and deputy director of the CIA Michael Morell, and John Newbery, director of Brink — a nonprofit focused on supporting Bitcoin development.

Nigeria’s comms minister links blockchain to national digital innovation efforts

Nigeria’s government is looking to drive blockchain adoption as part of its plans to establish emerging technology centers across the country. Speaking during Wednesday’s annual Digital Africa Conference, Isa Pantami, Nigeria’s Minister of Communications and Digital Economy, identified blockchain as part of the government’s focus on emerging technologies, according to a report by Voice of Nigeria.Highlighting the conference theme — “Building a New Africa with AI and Blockchain” — Pantami stated that the government was working toward establishing innovation centers.According to Pantami, these innovation centers will explore capacity-building protocols for artificial intelligence, the Internet of Things, robotics, cloud computing and blockchain technology, among other fields.As part of his address, the communications minister said the move was part of efforts to promote an innovation-driven culture in Nigeria, adding:“We are also actively preparing to take advantage of blockchain technologies for our digital economy, and we recently developed a National Blockchain Adoption Strategy.”Back in October 2020, Nigeria’s National Information Technology Development Agency (NITDA) issued a draft strategy framework for blockchain.

Ethernity Chain (ERN) Goes Live on Binance’s Innovation Zone

June 22, 2021 – George Town, Cayman Islands Ethernity Chain (ERN) is coming to Binance’s Innovation Zone and will receive three trading pairs later today.

Ethernity Chain (ERN) Goes Live On Binance’s Innovation Zone

[PRESS RELEASE – George Town, Cayman Islands, 22nd June 2021] Ethernity Chain (ERN) is coming to Binance’s Innovation Zone and will receive three trading pairs later today.

Beyond Bitcoin and Ethereum – Value Drivers Advancing Blockchain Adoption

In addition to being a distributed database of records enabling digital innovation in the financial markets via cryptocurrency, blockchain technology has attracted the gaze of the business fraternity for quite some time now.

El Salvador’s Bitcoin adoption an ‘interesting experiment,’ says BIS exec

El Salvador’s move to make Bitcoin legal tender in the country continues to elicit reactions from legacy finance gatekeepers — this time, from the Bank for International Settlements. Benoît Cœuré, Bitcoin (BTC) critic and the head of the innovation hub at the Bank of International Settlements, called El Salvador’s historic move to make BTC legal tender in the country an “interesting experiment.”According to Reuters, Cœuré made this assertion during the launch of the BIS’s fourth innovation hub in England on Friday, stating:“We have been clear at the BIS that we don’t see bitcoin as having passed the test of being a means of payments.

El Salvador's Bitcoin Adoption Is An 'Interesting Experiment': BIS

Benoit Coeure, head of the BIS Innovation Hub, has described El Salvador's Bitcoin adoption as an "interesting experiment."

BIS joins France and Switzerland's central banks on cross-border CBDC project

The central bank digital currency project will test cross-border settlement between French and Swiss fiat currencies. The Bank of France and the Swiss National Bank are teaming up with the Bank for International Settlements’ Innovation Hub to test a wholesale central bank digital currency (CBDC) system dubbed “Project Jura.”According to a release by the Bank of France on Thursday, the Project Jura pilot study will also draw participation from a private consortium led by global service company Accenture.