Digital Financial News
18.05 / 14:31
Digital
Platform
lawmakers
ABA calls on lawmakers to regulate stablecoin issuers like banks
On Thursday, the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion debated two bills on stablecoin regulation, one brought by committee chairman Patrick McHenry and the other by ranking member Maxine Waters. The ABA says that while it supports parts of both bills, they fall short in several areas.
18.05 / 13:59
UPS
Binance
Digital
Platform
Southern
Bittrex
bankruptcies
stake
Crypto Bankruptcies Continue to Hit the Market – What's at Stake for Your Crypto?
The rise of liquidation of industry-leading cryptocurrency platforms and institutions is set to be a recurring negative trend, with Voyager and Bittrexr being the latest addition.
18.05 / 13:09
Digital
HK
Hong Kong to run e-HK CBDC trials with 16 firms
The central bank committed to exploring further the potential for a retail central bank digital currency (CBDC) in September, after a positive response to consultations scoping out the technical and policy perspectives. The first round of pilots will take deep dives into potential use cases in six categories, including full-fledged payments, programmable payments, offline payments, tokenised deposits, settlement of Web3 transactions and settlement of tokenised assets.
18.05 / 12:17
Blockchain
UPS
Provident
Digital
Platform
Experts are Saying This New Web3 Project Launchpad XYZ is the Best Crypto App in 2023 for Newcomers – Here's How it Works
Web3 is the next frontier of digital innovation, its amalgamation of decentralized finance, play-to-earn gaming, NFTs, and metaverse experiences is already revolutionizing the internet.
18.05 / 10:49
18.05 / 08:41
18.05 / 08:41
COST
Provident
Digital
Waters
Enterprise
digital euro
European Parliament paper pours cold water on digital euro
While a final decision on issuing a digital euro has yet to be made, the European Central Bank has been busy investigating options ahead of a potential launch, which would come in 2026 at the earliest. Meanwhile, the European Parliament’s Committee on Economic and Monetary Affairs has called in the Economic Governance and EMU Scrutiny Unit to carry out its own assessment.
18.05 / 08:41
UPS
Provident
Digital
Cooper
CEO
Align
Whampoa Grup to set up crypto-focussed digital bank in Bahrain
Shawn Chan, CEO of Whampoa Group, comments: "We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry.Bahrain was among the first Gulf Cooperation Council (GCC) countries to issue crypto-asset licenses.Khalid Humaidan, chief executive of the Bahrain Economic Development Board, says: "The establishment of these types of institutions are vital to further strengthening the existing digital assets industry.
18.05 / 07:49
Target
Digital
Southern
Chinese Universities Begin Adopting Digital Yuan – Students to Lead CBDC Drive?
Universities in China say they are adopting the digital yuan, and looking for ways to allow students to use the nation’s central bank digital currency (CBDC) in “every” aspect of their campus lives.
17.05 / 20:15
Twitter
Digital
SEC
Tether
USDT
MicroStrategy
Bitcoin
reserves
Tether to Spend Millions on Bitcoin to Diversify USDT Reserves
Tether International Ltd., the company behind the third-largest cryptocurrency by market value, will use 15% of its net investment profit, equivalent to $222 million of its first-quarter profit, on Bitcoin to diversify reserves backing its USDT stablecoin.
17.05 / 17:37
Citi
Provident
Digital
Ripple
CEO
Action
coinbase
Swiss
regulatory
Ripple Buys Swiss Crypto Startup Amid US Regulatory Uncertainty
Financial technology company Ripple acquired Switzerland-based crypto custody firm Metaco as U.S. crypto firms look overseas amid a regulatory crackdown at home.
17.05 / 17:11
Citi
Digital
CEO
coinbase
RIG
Marathon
Marathon Digital and Zero Two Partner for Abu Dhabi Bitcoin-Mining Facility
Marathon Digital Holdings and Zero Two have announced a partnership to create a large-scale immersion Bitcoin-mining facility in Abu Dhabi. The joint venture, called the Abu Dhabi Global Markets JV Entity, will be based in Mina Zayed and Masdar City in the United Arab Emirates, and will comprise two mining sites with a combined 250-megawatt capacity. Marathon and Zero Two plan to power the facilities with excess energy from Abu Dhabi’s grid, claiming it will increase its base load and sustainability.
17.05 / 17:11
Blockchain
Digital
Bitcoin
Standard
BRC-20 Tokens Surge in Popularity as Traders Flock to Bitcoin's Latest Token Standard
BRC-20 tokens, the newest token standard on the Bitcoin blockchain, have gained significant traction in the cryptocurrency market. With the total market capitalization of BRC-20 Bitcoin tokens surpassing $1 billion and a trading volume of $207.7 million in the past 24 hours, BRC-20 tokens like ORDI, NALS, VMPX, PEPE, and MEME have emerged as some of the most notable tokens deployed on the Bitcoin blockchain.
17.05 / 13:27
UPS
MAIL
Digital
Mobile
Returns
IRS flagged more than 1 million tax returns for identity fraud in 2023
The IRS flagged more than 1 million tax returns for potential identity theft during the 2023 tax season, according to the U.S. Department of the Treasury, signaling that such fraud continues to be a pervasive problem for taxpayers.
17.05 / 12:27
Digital
Ripple
XRP
SEC
CEO
Action
Fighting
Swiss
Crypto firm Ripple buys Swiss startup as SEC crackdown forces companies to consider overseas moves
Blockchain firm Ripple said Wednesday it has acquired Metaco, a Swiss firm that holds digital assets securely on behalf of clients, in a bid to expand its international footprint and broaden its range of services.
17.05 / 12:27
17.05 / 09:01
Digital
Emirates NBD opens Digital Asset Lab
The collaborative effort will focus on four key pillars including:strategy and policy: Compliance, risk and security framework(s) for Web 3.0 technologiesarchitecture: Business, technology and security reference architecture for Web 3.0 solutionspartners: Collection of partners (technology, business and governance) who can support with the required systems and processes for Web 3.0 technologiescapabilities: Design, build and experiment new capabilities and value propositions related to Web 3.0 ecosystem.Abdulla Qassem, group chief operating officer, Emirates NBD, says: “Our new Digital Asset Lab serves as a hub for innovation, experimentation and collaboration in the digital asset space, supported by industry partners.
17.05 / 08:07
17.05 / 08:07
Blockchain
UPS
Digital
500
New Chinese Blockchain Pivot as Beijing Vows to Train 500,000 ‘Experts’
China is gearing up for another blockchain technology push after promising to train half a million new “experts” to work in the sector.
17.05 / 05:47
17.05 / 01:19
Citi
Digital
businesses
Hunan Province, China, Debuts Digital Yuan Loans for Small Businesses – Another CBDC First?
Hunan Province, China, has debuted new digital yuan loans for tech startups – with Beijing keen to explore more central bank digital currency (CBDC) financing options.
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