Digital Currency Financial News

The Federal Reserve Bank of San Francisco has announced a vacancy for a CBDC developer as the federal bank aims to explore the cost and benefits of the potential technologies for central bank digital currencies.

London-based digital asset protection firm, Coincover, has secured $30 million in a funding round led by Foundation Capital, with a follow-on investment from CMT digital. 

The Indian government doesn’t want to rush its central bank digital currency (CBDC) pilot despite joining the CBDC race just a few months ago.

Millions of dollars worth of China’s Central Bank Digital Currency (CBDC) has been handed out across the country over the Lunar New Year period in a bid to boost its takeup.

Billionaire investor Ray Dalio has described fiat currency as being in serious “jeopardy” as an effective store of wealth but doesn’t believe Bitcoin (BTC) and stablecoins will be the solution either.

Recent charges brought against Mango Markets exploiter Avraham Eisenberg will have a positive impact on the decentralized finance (DeFi) space, according to credit rating firm Moody’s. 

Blockchain startup accelerator Cronos Labs has announced the opening of applications for its second cohort of the $100 million-backed Cronos Accelerator Program. 

Central Bank Digital Currency or CBDCs have captured the imagination of central banks around the world. Recently, the Reserve Bank of India (RBI) launched the pilot 'digital rupee' project and reports suggest that it may further expand the project "based on the learnings from the current pilot."

The digital euro, should it come into existence, will preserve the role of the central bank by extending payment options beyond those offered by cash, European Central Bank (ECB) executive board member Fabio Panetta told a European Parliament committee Jan. 23.

A Hong Kong-based blockchain company has launched a digital payments system aimed at bridging the gap between stablecoins and Central Bank Digital Currencies (CBDCs).

China’s Central Bank Digital Currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases.

A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed disappointment that China’s digital yuan is seeing little use.

On Nov. 18, Grayscale, the asset manager running the world’s largest Bitcoin (BTC) fund, released a statement detailing the security of its digital assets products and affirming that it won’t share its proof of reserves with customers. 

Decentralized lending protocol, MakerDAO, has voted against crypto investment firm CoinShares' proposal to invest between 100million and 500million worth of the community’s funds, into a portfolio of corporate debt securities and government-backed bonds for yield, as an investment strategy. 

Collapsed crypto exchange FTX said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganisation of some businesses.

Collapsed-crypto exchange FTX outlined a "severe liquidity crisis" in U.S. bankruptcy filings, which said the group could have more than 1 million creditors, as regulators opened investigations and lawmakers called for clearer rules on how the industry operates.

South Korea’s financial watchdog, The Financial Service Commission (FSC), would monitor crypto whales with assets of over 100 million won ($70,000) to prevent money laundering efforts using digital assets.

The take-off of digital gold has the potential to disrupt the industry to an unprecedented degree. Historically, gold has been used as a global currency as a hedge against inflation. It has also been serving as an investment venue (commodities), often preferred over other asset classes like equities or foreign exchange, particularly in conventional markets. 

Despite prices of cryptocurrencies crashing this year, digital currencies continue to remain cash vending machines for hackers. Investors have lost over $3 billion to hackers across 125 hacks in 2022 so far, which is likely to surpass 2021 as the biggest year for hacking on record, according to blockchain analytics company Chainalysis.

Researchers from a Chinese state-run think tank have floated the idea of an Asia-wide digital currency with the aim to reduce its reliance on a United States dollar-based economy. 

RBI) on Friday released its concept note for central bank digital currency (CBDC), which was announced by the Finance Minister Nirmal Sitharaman in Parliament during her budget speech in February. The RBI clarified that the concept note aims to create awareness about CBDC and features of the digital rupee (e₹). It explains the objectives, choices, benefits, risks of CBDCs in India. It discusses technology and design choices, possible uses of Digital Rupee, issuance mechanisms and examines the implications of introduction of CBDC on the banking system, monetary policy, financial stability, and privacy issues. The RBI will soon commence pilot launches of CBDC for specific use cases. As the extent and scope of such pilot launches expand, RBI will continue to communicate about the specific features and benefits of CBDC, from time to time.