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Demystifying the business imperatives of the Metaverse
30.4.2022
What financial services mean in the Metaverse: A closer look into the process of monetization in the Metaverse — the categories of business “of” and business “in” models
Argentinian Government Advances the Creation of a National CBDC
30.4.2022
The Argentinian government has taken the first steps in the launch of its own central bank digital currency (CBDC). A new decree identified the number 207/2022 gives new faculties to the Argentinian mint to involve in the investigation, development, and issuance of digital currencies. This puts...
Whale Watching: A Deep Dive Into the Portfolios of the World’s Largest Ethereum Whales
28.4.2022
While there’s a number of bitcoin whales that often get caught by blockchain parsers and written about in media reports, ethereum whales get a lot less attention. According to statistics in 2022, there are a lot more ethereum whales than holders with large sums of bitcoin. In fact, while...
Report: $1.3 Billion in Crypto Stolen in Q1 2022, 97% Stemmed From Defi Exploits
28.4.2022
According to a research report, $1.3 billion in digital currencies have been stolen during the first quarter of 2022. The study, published by cryptomonday.de researchers, further highlights that 97% of the stolen funds derived from decentralized finance (defi) protocol exploits. Defi Exploits...
Top ECB Official Ramps Up Anti-Crypto Rhetoric, Calls for Global Regulations
28.4.2022
Comparing the rise of crypto assets to the gold rush, a top executive at the European Central Bank has urged governments to take action to prevent “a lawless frenzy of risk-taking.” Speaking in the U.S., the ECB official called for a global regulatory clampdown on cryptocurrencies...
Former Chinese Central Bank Governor: US Dollar Will Remain Global Reserve Currency, Says It ‘Has Great Inertia’
27.4.2022
In remarks that appear to pour cold water on assertions that digital currencies will topple the U.S. dollar anytime soon, a former governor of the Chinese central bank, Zhou Xiaochuan, insisted the greenback will remain in its position as the global reserve currency. Xiaochuan said the dollar still...
Working Study Says Despite Legal Tender Status, Bitcoin Is Not a Widely Accepted Medium of Exchange in El Salvador
27.4.2022
According to a working study published by the U.S. National Bureau of Economic Research (NBER), most Salvadorans stopped using the Chivo wallet after getting their $30 bitcoin bonus. The report shows that the median Chivo wallet user made no deposits or withdrawals in a given month. NBER Study:...
Fidelity’s New 401(k) Product Lets Workers Add Up to 20% in Bitcoin to Their Retirement Plans
26.4.2022
The multinational financial services corporation based in Boston, Fidelity Investments, has revealed the firm is allowing people to add bitcoin into their 401(k) plan as long as the employer allows it. According to Fidelity’s head of workplace retirement offerings, the company has seen...
Report: Afghans Use Crypto to Curb Taliban’s Influence on Their Financial Well-Being
26.4.2022
Afghan residents are reportedly acquiring digital assets that they use to preserve their savings and to diminish the ruling Taliban’s ability to affect their financial well-being. Since the militant group seized control, the value of crypto transactions per week has in some cases doubled,...
IMF: India Is on the Frontline of Digital Currencies — Especially How It Handles Crypto Risks
24.4.2022
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says India is “a country that is on the frontline of digital currencies,” especially “how it handles a reduction of risk from crypto assets for the Indian people and businesses.” She met with Indian...
Report: Saudi Arabia Exploring Possibility of Implementing Blockchain in Government
23.4.2022
The Kingdom of Saudi Arabia is looking into the possibility of implementing blockchain technology across its government as well as allowing the use of cryptocurrencies. However, an official said the kingdom can only successfully build blockchain-based solutions if it hires people that...
Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments
18.4.2022
Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict...
Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods in Forex
12.4.2022
The Bank of Ghana has warned businesses and the public against the practice of demanding or making payments in foreign currency without its authorization. The central bank’s warning comes just over a month after Ghana’s currency was rated the worst performing among Africa’s...
Tanzania Officials Want Global Clarity on CBDCs and Crypto Assets
11.4.2022
Officials from Tanzania’s financial sector have called for a clearer global consensus on central bank digital currencies (CBDCs) and crypto-assets. The officials agreed that more discussions still need to be carried out before a final decision is made. Interoperability of CBDCs Just under...
Russian Finance Ministry Amends Bill ‘On Digital Currency,’ Adds Crypto Mining Provisions
10.4.2022
The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament’s spring session....
Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent Sanctions
7.4.2022
The Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade...
Russia’s Sberbank Denies Involvement in Recently Launched ‘Sbercoin’
6.4.2022
Sberbank, the largest bank in the Russian Federation, has denied connection to a new cryptocurrency called “sbercoin.” The project is offering high returns to buyers of the token, which was launched shortly after Bank of Russia allowed Sberbank to issue digital currencies. Sbercoin...
A Look at the First Quarter’s Top Performing Cryptocurrencies in 2022
6.4.2022
The first quarter of 2022 has come to an end and specific digital currency markets have seen a lot of action during the last three months. Out of the top ten digital currencies, terra (LUNA) saw the biggest gains, jumping more than 43% higher against the U.S. dollar in Q1. Out of the top...
Abkhazia Extends Crypto Mining Ban Till End of Year
6.4.2022
Authorities in Abkhazia have decided to maintain a ban on cryptocurrency mining in the territory. The partially recognized republic in the South Caucasus is restricting the energy-intensive extraction of digital currencies, citing problems with power supply. Bitcoin Mining Remains Prohibited...
Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax Benefits
3.4.2022
Authorities in Kazakhstan have found several businesses minting digital currencies that took advantage of tax cuts they were allegedly not supposed to benefit from. Auditors said the crypto firms registered as “innovative companies,” to receive millions of dollars in tax preferences....