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S Korean MPs to Create Law that Distinguishes CBDCs from Crypto – Is Digital KRW Launch Imminent?
25.4.2023
South Korea is edging closer to a central bank digital currency (CBDC) launch, with a new draft law set to create legal terminology for CBDCs.
Herald Kyungjae reported that a new bill will soon roll out in the National Assembly, and will include clauses that spell out the legal differences between...
Coinbase Files Legal Action Against SEC Over Lack of Regulatory Clarity
25.4.2023
On April 24, 2023, Coinbase announced that it had filed an action in federal court requesting the U.S. Securities and Exchange Commission (SEC) to respond to their petition. The petition, submitted in July 2022, requested the commission to propose and adopt rules governing the regulation of digital...
Ugandan High Court Rules to Uphold Central Bank’s Crypto Prohibition
25.4.2023
A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition...
CFTC proposes reducing anonymity to manage risks
25.4.2023
CFTC Commissioner urges crypto companies to verify the digital identity of users and says that congress is considering new laws addressing anonymity and digital identity
China Pushes Digital Yuan for Wage Payments in Changshu
25.4.2023
Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included...
Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar
25.4.2023
The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand...
Russia Launching Payment System With ‘No Restrictions’ — Digital Currencies to Be Completely Unrestricted
25.4.2023
Russia is launching a new payment system that is “bound by no restrictions” where digital currencies could be used in cross-border payments, said Russian Finance Minister Anton Siluanov. “Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such...
Stablecoins must be programmable to counter CBDCs
25.4.2023
Decentralization enables programmability — and that allows stablecoins to wield a key advantage over central bank digital currencies
ECB considers digital euro access, distribution in third design progress report
24.4.2023
The digital euro, if it is created, will be available to Eurozone users first through familiar onboarding procedures
Draft bill suggests separating legislation on payment stablecoins and digital asset markets
24.4.2023
The draft bill no longer included aspects of an earlier version that included legislation of custodial service providers and algorithmic stablecoins, as well as a CBDC study
Lawmakers Could Still Nix Digital Euro, ECB’s Panetta Says
24.4.2023
The ECB wants the CBDC to be universally accepted, and usable by those without bank accounts, the central banker said
Nearly 1,000 Ancient Bitcoins from 2010 and 2011 Moved in 2023, Valued at Over $27 Million
24.4.2023
Based on present data, within the last four months, a mere three block rewards from the year 2010 have been transferred after 13 years of dormancy. This is due to the fact that dormant wallets from that era are becoming a rarity to behold. The latest expenditure of a 2010 block took place on April...
China City to Pay Salaries ‘100%’ in Digital Yuan – Is CBDC Adoption Accelerating?
24.4.2023
A Chinese city wants to pull of a world’s first – by becoming the first city to pay its employees entirely in a central bank digital currency (CBDC).
The move would be a massive breakthrough for the central People’s Bank of China (PBoC) and its digital yuan token....
Read More: China City to...
Zimbabwe's Central Bank Plans Gold-Backed Digital Currency to Stabilize Local Economy
24.4.2023
The central Reserve Bank of Zimbabwe (RBZ) plans to introduce a gold-back digital currency, meant to be used as legal ledger within the country.
The new currency will be used for transactions within the South African nation as part of its plans to stabilize the local currency, The Sunday Mail...
Zimbabwe to Introduce Gold-Backed Digital Currency: Report
24.4.2023
The country's central bank wants people to be able to exchange Zimbabwe dollars for the gold-backed token so they can hedge against the currency's volatility
Zimbabwe's central bank to issue gold-backed digital currency: Report
23.4.2023
The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency
Value Locked in Defi Descends Below $50B Range 9 Days After 2023 High
23.4.2023
The total value locked in decentralized finance (defi) has descended below the $50 billion range after reaching a 2023 high of $53.63 billion on April 14. This shift has been felt across the board with the top 18 defi protocols recording losses during the past seven days, and the largest defi...
Non-Fungible Token Sales Spiked This Week Despite Crypto Market Volatility
23.4.2023
In the midst of a turbulent week for the crypto market, non-fungible token (NFT) sales have shown resilience, experiencing a surge of 7.74% in weekly sales, totaling $181.82 million. Data also reveals that there has been an increase of 41% in NFT buyers over the course of the week, surpassing...
Chinese city public servants to receive digital RMB salaries from May
23.4.2023
Civil servants including public service personnel, public institution personnel and personnel of state-owned units at all levels in the city will be compensated in digital RMB payment
Russia to Work With Digital Currencies of Other Nations
23.4.2023
The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled....