Digital Currency Financial News

Polygon blockchain. These tokens are set to reward users for simply browsing the web on Jio’s own JioSphere browser. While JioCoins aren't stablecoins, transferable, or redeemable just yet, they accumulate in the Polygon wallet, creating an exciting gateway for millions of Jio users to explore the world of Web3.

Reliance Jio, one of India’s largest telecommunications giants, has been hard to miss, especially with the growing interest in cryptocurrencies across India. Rumors about JioCoin have sparked curiosity, leading many to wonder whether this will be India's next big cryptocurrency or just another reward token tied to Reliance Jio’s services. But before getting caught up in the hype, it’s essential to understand exactly what JioCoin is—and what it’s not.

From blockchain developers to smart contract specialists, professionals across domains are vying to acquire in-demand skills, as companies, particularly in banking and IT, embrace blockchain for secure and scalable solutions.

cryptocurrencies, once viewed with skepticism, are increasingly embraced by institutions. This shift signifies a paradigm change in investment strategies and financial services, reflecting a broader recognition of the potential of digital assets to reshape the global economy. In a recent ETMarkets live stream, Manav Varanasi from Sales & Trading at Mudrex discussed this remarkable transition and the factors driving institutional acceptance of cryptocurrencies.

pizzas for millions of dollars. Sounds crazy, right? But that’s exactly what happened on May 22, 2010, a day now celebrated as Bitcoin Pizza Day. This day marks the first time Bitcoin was used to buy something in the real world, a transaction that has become legendary in the world of cryptocurrency. The Pizza That Started It All

Bitcoin, a once-every-four-years software update called the «halving» has long been held as one of the keys to propping up its value. This time around, it's also set to trigger multibillion-dollar declines in revenue for the very companies that ensure the digital currency's smooth functioning, right on the heels of a surge in their biggest costs. Around April 20, the halving will cut the amount of Bitcoin that «miners» can earn each day for validating transactions to 450 from 900 now. Based on Bitcoin's current price, it could spell revenue losses of around $10 billion a year for the industry as a whole. Marathon Digital Holdings, CleanSpark, and other miners, which compete for a fixed Bitcoin reward by solving mathematical puzzles using superfast computers, have invested in new equipment and sought to buy smaller rivals in an attempt to cushion the drop-off in revenue.

RBI) Governor Shaktikanta Das shed light on the evolving landscape of cryptocurrency and the progress of the central bank's digital currency initiative. Das reiterated the RBI's stance on cryptocurrency, emphasizing the risks and dangers associated with it. While acknowledging the technological advancements, particularly the blockchain technology underlying cryptocurrencies, Das emphasized the speculative nature of these assets. He highlighted the lack of underlying assets and corresponding liabilities, branding cryptocurrency as a speculative product.

The Treasury Committee has argued that benefits of the new asset promoted by the central bank did not outweigh their concerns of overall confidentiality and financial risks.

The bakong, a digital currency operated by the National Bank of Cambodia (NBC), will provide users with access to the Alipay merchant network and enable cross-border transactions on Alipay+ using QR codes under a memorandum of understanding (MoU) signed at the FinTech Expo in Singapore, the local press reported.

The International Organization of Securities Commissions (IOSCO) — an international regulatory body overseeing global securities markets — has released its conclusive report containing policy suggestions for crypto and digital asset (CDA) markets.

A pilot program for a live Singapore dollar-based central bank digital currency (CBDC) was unveiled by Singapore’s central bank with a wholesale CBDC to be used by local banks for settlements.

Turkey is reportedly drafting fresh regulations to govern crypto assets in an effort to convince the Financial Action Task Force (FATF) — an international organization responsible for combating financial crimes — to remove it from a “grey list” of nations that have not done enough to combat money laundering and terrorist financing.

Source: Pexels

The governing council of the European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation.

South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said.

A consortium of Japanese firms is set to launch a yen-based digital currency, "DCJPY," by July 2024, that will be used in transaction and settlement of clean energy certificates.

The National Bank of Georgia (NBG) has announced that it will advance its research on a digital lari central bank digital currency (CBDC) in a limited-access live pilot environment. Nine companies, including Ripple Labs, will take part in the project, and one of them will be selected to move forward to the next stage of testing.

IBM has some ideas about what it will take to make the digital euro a success, which it shared in a recent blog post. It suggested five items for designers to help the European Central Bank (ECB) digital currency “enter the highly competitive, multifaceted, and heterogeneous payments landscape in the Eurozone.”

Rhode Island’s regulators have granted X (Twitter) a currency transmitter license marking a step forward for the company’s foray into the financial services sector. 

The Massachusetts Institute of Technology (MIT) Digital Currency Initiative (DCI) has introduced the experimental PArSEC platform. PArSEC — short for "parallelized architecture for scalably executing smart contracts" — is open source and developed with central bank digital currency (CBDC) in mind. 

Animoca Brands co-founder and executive chairman Yat Siu sees significant potential in the personalization of Web3-based services as his firm earmarks $30 million for the neobank platform hi.