Digital Financial News

In the tests, a cross-border transaction is broken down into two domestic payments, facilitated by a foreign exchange provider active in both domestic systems. In most existing cross-border payment systems, the payer has no choice regarding the exchange rate, as it has no control on who the provider of foreign exchange conversion is.

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[content][quote]Big Story[/quote][title]Web3 Platform Few and Far Raises $10.5 Million in Funding Round[/title][body]British Virgin Islands-based digital Collectibles web3 platform Few and Far on Friday announced that it has raised $10.5 million in a funding round led by Pantera Capital, a blockchain investment firm. The funding round also included other prominent investors such as Cypher Capital, Huobi Ventures, Hypersphere, Metaweb, Mantis Partners, and K5 Global. According to the company, the new funds will be used to expand the platform's capabilities, enhance user experience, and increase the number of web3 developers. IP owners are also expected to benefit from the platform, which provides an all-inclusive suite of developer tools to carry out everything related to next-generation digital collectibles. Details here.[/body][/content]

During a meeting of the Group of Twenty (G20) that took place on February 25, United States Treasury Secretary Janet Yellen emphasized how important it was to develop a robust regulatory framework for cryptocurrencies.

NanoLabs, the company behind digital currency Nano, has filed a legal complaint against Coinbase, a leading crypto exchange, for alleged trademark infringement. According to the complaint filed on February 24, 2023, in the California Northern District Court, NanoLabs has accused Coinbase's Nano Bitcoin futures contract and Nano Ether futures contract products of infringing on its trademark rights.

The International Monetary Fund (IMF) has expressed its preference for regulating crypto assets, including stablecoins, rather than imposing an outright ban. IMF's Managing Director, Kristalina Georgieva, stated during the G20 finance ministers meetings in Bengaluru, India that differentiating and regulating digital assets are the agency's top priorities. However, the IMF has not ruled out the option of banning cryptocurrencies entirely if they pose a significant risk to financial stability.

The market for top Ethereum-based PFP (Profile Picture) NFT collections continues to show signs of weakness, with continued drawdowns in their floor prices since last year, data from Delphi Digital has revealed.

Digital asset investment firm Multicoin Capital lost as much as 91.4% in 2022 as investors rushed for the exits following the catastrophic collapse of FTX.

Following the sharp decline in Bitcoin’s [BTC] price in the early trading hours of 3 March, long liquidations soared to a seven-month high, data from Coinglass showed.

The digital rupee (e), India’s recently launched in-house central bank digital currency (CBDC), is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI). The RBI is the central bank and regulatory body of India.

The fitness industry is one of the fastest growing spaces following the outbreak of the respiratory COVID-19 disease. 

The chief of the Brazilian financial markets regulator says that the body will issue a decree in the coming days that will allow government-appointed bodies to better monitor the crypto sector.

The growing climate challenges have led to calls for more sustainable transport infrastructure. One such endeavor to cut down on carbon emissions is the use of electric vehicles (EVs). 

Multiple U.S. regulators have the world's largest crypto platform, Binance, in their crosshairs. casting doubt on the path ahead.

Blockchain-based digital payment network Ripple and the payment organization Faster Payments Council (FPC) released a report on the opportunities of crypto-enabled payments.

Silvergate Capital Corp has announced that it will suspend the Silvergate Exchange Network (SEN), its crypto payments network.

It was announced on February 25 by the group of the 20 largest economies in the world, known collectively as the G20, that the Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) will deliver papers and recommendations establishing standards for a global crypto regulatory framework.

According to a study published by the Financial Action Task Force, often known as FATF, its delegates have reached a consensus on an action plan «to encourage prompt worldwide implementation» of global standards on cryptocurrencies.

Coinbase on 2 March announced that it had frozen accepting or initiating payments to or from Silvergate. This episode happened as Silvergate, one of the most influential banks in the digital asset industry, revealed that it would delay the filing of its annual report, igniting panic in the crypto space. 

Bitcoin has experienced a significant decline in its value over the past few days, prompting concerns among investors and traders. The market is currently trying to gauge the reasons behind this decline and determine where the following support for the cryptocurrency may lie. 

The world is rapidly moving toward environmentally friendly practices, with electric vehicles (EVs) playing an important role.