Digital Financial News

The International Monetary Fund (IMF) is concerned about risks related to El Salvador’s issuance of bitcoin-backed bonds, urging El Salvador to terminate bitcoin as legal tender as soon as possible.

As part of its research plans, the Bank for International Settlements (BIS) will explore whether decentralized finance (DeFi) technologies can enhance financing for small and medium enterprises in Hong Kong.

IMF has urged El Salvador to remove Bitcoin as legal tender

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The sell-offs over the past few weeks were aggravated after the crypto-market suffered massive price correction. At the time of writing, the global crypto-market capitalisation stood at just $1.62T. However, digital asset investment products experienced inflows last week for the first time this year (2022). A small, yet significant development.

After hitting a record high of almost $68,000 in November, the digital currency fell to nearly $34,00 on Saturday

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Meta is reported to be building the world's fastest artificial intelligence supercomputer.

Subject to fears of a Russian invasion of Ukraine and the possibility of raising the interest rate, revealed by the U.S. Federal Reserve meeting last week, Bitcoin rebounded again after it tumbled to its lowest in six months during the Asia trading session.

The Bank of America Corp. said that the US is likely to issue its own digital currency between 2025 and 2030, Bloomberg reported.

Singapore-based venture capital Blockchain Founders Fund (BFF) has announced the launch of a new Venture Capital Fund II to support emerging projects in the cryptocurrency, Metaverse and Web3 space.

When you make a UPI payment, your bank settles the amount on your behalf at the end of the day. Digital payments like UPI are electronic instructions that authorise intermediaries such as banks to facilitate transactions. Even if they are ‘cashless’ modes of payment, they involve transfer of fiat money (government-issued currency). Now imagine a UPI-like system where digital currency issued by a central bank is transacted instead of bank balances. The need for interbank settlement disappears and you have the option to pay someone securely, without third-party risks. What if money itself could be ‘digital’? The RBI has called for a complete ban on crypto as it believes partial restrictions won’t work. But, at the same time, it is considering issuing its own digital currency by leveraging the technology that powers crypto. “A central bank digital currency (CBDC) would also potentially enable more real-time and cost-effective globalisation of payment systems. Time zone difference would no longer matter,” said T Rabi Shankar, RBI deputy governor, in a speech last year. The RBI defines a CBDC as a legal tender issued by a central bank in a digital form. “It is the same as a fiat currency and is exchangeable oneto-one with the fiat currency. Only its form is different,” said Shankar. The RBI is working towards a phased implementation strategy. Presented ByDid you Know?Producer, direc

Bitcoin closed below the $40,000-mark for the first time since August 2021 on Friday.

Bitcoin's price plunged by more than 80% to as low as $3,100.

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2021 was a year of change in South Korea as the administration announced several legislations in the crypto-space. And now, at the start of 2022, a new announcement from the National Statistical Office reportedly states that it will investigate holdings of households for virtual assets.

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The Biden administration reportedly is preparing an executive order concerning cryptocurrencies, to be issued as early as sometime in February 2022. In preparation, various federal agencies are assessing the risks and opportunities posed by digital currencies, and senior administration officials have held a series of meetings on the matter, sources indicate.

Former Goldman Sachs CEO and Chairman Lloyd Blankfein said that his view of cryptocurrencies has evolved after digital assets attracted trillions of dollars in value and a rapidly growing ecosystem.