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Russian State Duma Official: International CBDC Settlements to Become ‘Common Practice’ in 5 Years
7.6.2024
Anatoly Aksakov, Chairman of the Russian State Duma Financial Markets Committee, has predicted that international trade will migrate to CBDC for settlements during the next five years. Aksakov stressed that not many countries have made progress using these digital currencies, but he believes this...
Zone launches PoS gateway with instant settlements
5.6.2024
Zone’s layer-1 blockchain is purportedly Africa’s first decentralized, cross border, currency-agnostic payments solution
Private firms to join global central bank CBDC project
5.6.2024
As Project mBridge enters its MVP phase, BIS is inviting private sector firms to propose new solutions and use cases to further develop and showcase the platform's potential
BIS Plans Instant Cross-Border Payments Using Wholesale CBDC Settlement
4.6.2024
In a move to improve traditional cross-border payments, the Bank for International Settlements (BIS) has announced the launch of Project Rialto. This project aims to enhance instant cross-border payments by integrating a modular foreign exchange (FX) component with settlement in wholesale central...
MicroStrategy Founder Michael Saylor Agrees to $40M Settlement in D.C. Income Tax Case
3.6.2024
The District of Columbia sued Saylor in 2022 for allegedly not paying income taxes while living in the district
Israel to Start Digital Shekel Challenge to Develop Payment Use Cases
29.5.2024
Israel's central bank is launching a challenge on the use of a central bank digital currency in payments as part of an "action plan for a possible issuance of the digital shekel."
Mastercard, Visa, JPMorgan, and Other Major Banks Explore Tokenized Asset Settlements
9.5.2024
Several major financial firms are collaborating to test the benefits of shared-ledger technology for jointly settling tokenized assets like commercial bank money and various securities. The initiative, known as the Regulated Settlement Network, is a proof-of-concept designed to expedite and secure...
ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’
8.5.2024
Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening attractiveness then you have to think about another new core...
Mastercard joins forces with US banking titans for tokenized settlement trials
8.5.2024
The partnership between the significant banking giants in the US and Mastercard is aimed at streamlining multiple asset-class settlements on a shared ledger platform
Philosopher Yuval Noah Harari warns of AI’s risks in finance
7.5.2024
The bestselling author, philosopher and historian sees grim potential for AI to get out of control in the financial system
Do Kwon's Huge Fine Shows the SEC Is Ratcheting Up Penalties Against Crypto Firms
24.4.2024
Suggested fines the securities watchdog suggested for Terraform Labs and Ripple are out-of-line with what it has collected from crypto firms in the past
Venezuelan State Oil Company to Accelerate USDT Adoption for Settlements; Tether Vows to Uphold OFAC Sanctions
23.4.2024
PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate...
BRICS Bloc Mulls Stablecoins, CBDC-Based System for International Settlements
23.4.2024
Russian Deputy Foreign Minister Sergey Ryabkov revealed that the BRICS bloc has been considering the use of stablecoins for its common rail payment systems. In an interview with TV BRICS, Ryabkov stated that the use of stablecoins and a connection linking the CBDCs of the participants were studied...
Bank of Russia Supports Cryptocurrency Usage for International Settlements
16.4.2024
The Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched in a sandbox-style experimental regime. In contrast...
BIS Announces Project Agorá: Central Banks Bet on Tokenization for Cross Border Settlements
8.4.2024
The Bank for International Settlements, the central banks’ bank, announced the launch of Project Agorá, a joint private-public initiative seeking to examine the potential benefits of tokenization for improving cross-border settlements. Agorá includes the participation of seven central banks...
Central Banks to Explore Tokenization of Cross-Border Payments With Project Agora
3.4.2024
A consortium of central banks worldwide, led by the Bank for International Settlements (BIS), announced a new initiative "Project Agora" to explore the potential of tokenization to enhance existing financial systems.
The post Central Banks to Explore Tokenization of Cross-Border Payments With...
Ondo Finance to Move $95M to BlackRock's Tokenized Fund for Instant Settlements for Its T-Bill Token
27.3.2024
The allocation marks to first example of a crypto protocol leveraging BlackRock's tokenized fund for its own offering
OKX Quietly Settled Regulatory 'Failings' With Malta Financial Services Authority
27.3.2024
The $322,000 “goodwill” settlement with MFSA related to OKX’s Okcoin Europe subsidiary
Crypto Lender Genesis Agrees to $21 Million SEC Fine, Funds to Await Bankruptcy Claim Settlements
19.3.2024
Genesis Global Capital has settled with the U.S. Securities and Exchange Commission (SEC) and agreed to pay a $21 million civil penalty. The SEC further disclosed that the regulator will “not receive any portion of the penalty until after payment of all other allowed claims by the bankruptcy court...
Russia Regulates Use of Digital Assets for International Settlements
15.3.2024
Russia has integrated the use of digital assets as payment for international transactions in its legislation. President Vladimir Putin signed into law a document that describes using these assets as payment for international settlements, a use case not contemplated in any law, appointing...