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Today in Crypto: WeChat & Alipay Enable Foreigners to Pay at Chinese Retailers, ETH 699,816 Paid as Royalties to NFT Projects on Ethereum, Hana Bank & Woori Bank 'Interested in Certificate of Deposit' Tokens
24.7.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: WeChat & Alipay Enable Foreigners to Pay at Chinese Retailers, ETH 699,816 Paid as Royalties to...
The Effects Of The SEC v Ripple Ruling Remains Ambiguous: Bank of America Insists on Clarity
24.7.2023
The aftermath of the court ruling in the Securities and Exchange Commission’s (SEC) case against Ripple continues to be debated along many lines as industry analysts mirror the judgment to find needed regulatory direction.
In a new research report released on Friday, Bank of America (BAC) opined...
Putin signs law on introduction of digital ruble in Russia
24.7.2023
Russian citizens will not be forced to use the digital ruble, and use of the CBDC will be a voluntary choice for people to make, Bank of Russia governor said last week
Nigerian Central Bank Introduces NFC Technology to Boost eNaira Adoption
24.7.2023
The Central Bank of Nigeria (CBN) remains committed to the central bank digital currency (CBDC) project, despite the recent ousting of the former governor.
In a bid to further encourage the adoption of the eNaira and enhance the CBDC mobile app, the central bank has incorporated Near Field...
Implications of Ripple-SEC Court Ruling for Wider Crypto Industry Are Unclear: Bank of America
24.7.2023
Ripple’s XRP offerings are unique, and the implications of the court’s ruling are difficult to determine, the report said
South Korea’s Hana Bank to Work on CBDC and Stablecoin Alternatives
24.7.2023
South Korea’s KEB Hana Bank is set to work with the central Bank of Korea (BOK) on the latter’s CBDC pilot and stablecoin alternatives, such as tokenized deposits.
Per the newspaper Maeil Kyungjae, Hana Bank is now “actively participating” in the BOK’s ongoing CBDC Proof of Concept project.
The...
Federal Reserve of San Francisco hiring crypto architect for CBDC project
23.7.2023
San Francisco's Federal Reserve Bank is seeking a crypto architect for a central bank digital currency (CBDC)
End of Fed’s Tightening Cycle: Bernanke, Majority of Polled Economists See Terminal Rate Hike Ahead
23.7.2023
With just a four-day window to go, the U.S. Federal Reserve appears primed to raise the federal funds rate by 25-basis-points (bps) at the forthcoming Federal Open Market Committee (FOMC) meeting scheduled for Wednesday. The market presently maintains the conviction that this quarter-point uptick...
China’s Central Bank: Digital Yuan Transactions Reach $250 Billion
23.7.2023
China’s central bank governor has revealed that transactions using the country’s central bank digital currency (CBDC) reached 1.8 trillion yuan ($250 billion) at the end of June. In addition, the People’s Bank of China (PBOC) official stated that digital yuan in circulation amounted...
Central Bank of Russia Discusses Digital Ruble Integration With Other Countries
22.7.2023
The Central Bank of Russia (CBR) is already discussing the integration of its central bank digital currency (CBDC), the digital ruble, with other countries’ payment systems. Elvira Nabiullina, Governor of the CBR, declared the bank was exploring different possibilities of integration with...
Nigerian Currency Plunges to All-Time Low Versus Dollar, Central Bank Revokes Licenses of 2,700 Currency Exchanges
22.7.2023
The exchange rate of the Nigerian currency versus the greenback recently plunged to an all-time low of NGN860:USD1. The naira’s depreciation has been attributed to shortages of foreign exchange on the official market and the rising demand for forex. The Central Bank of Nigeria (CBN) said...
NY Couple to Forfeit Billions in Crypto and Cash in Plea Deal Over Bitfinex Hack Laundering Case
21.7.2023
Ilya Lichtenstein and Heather Morgan, the New York-based couple implicated in the alleged laundering of $4.5 billion in bitcoin pilfered from the 2016 Bitfinex cyber-attack, have reached a plea bargain, as revealed by recent court records. The pair is scheduled to appear before U.S. judge Colleen...
China's Digital Yuan Hits $250 Billion Transaction Volume, Central Bank Governor Reports
21.7.2023
The People’s Bank of China (PBoC) revealed that $250 billion worth of transactions have taken place using the country’s central bank-backed digital currency (CBDC) digital yuan in 18 months since the start of its pilot.
Speaking at a conference in Singapore, China’s central bank governor Yi Gang...
Kids Won’t Be Able to Spend Mom’s Digital Ruble as They Wish, Russian Official Says
21.7.2023
The new form of Russia’s fiat, the digital ruble, will make spending more efficient for both government and family budgets, according to a high-ranking lawmaker. Anatoly Aksakov, who was involved in the recent adoption of the new digital ruble legislation, highlighted some of the advantages...
Wholesale CBDC Would Improve Cross-Border Payments, French Central Bank Tests Show
21.7.2023
The French Central Bank has determined that its wholesale central bank digital currency (wCBDC) would improve cross-border payments, it announced on Friday
Crypto-Based Bank Receives Support from Myanmar's Shadow Government
21.7.2023
Myanmar is all set to launch its first fully crypto-based banking institution, the Spring Development Bank, on July 22.
The Spring Development Bank, named after the Spring Revolution, aims to grant the country’s shadow government National Unity Government (NUG) access to financial services...
Digital yuan integration introduced to Chinese business air travel
21.7.2023
The Civil Aviation Administration and China Merchants Bank said passengers will be able to utilize the digital currency to access new services via this platform
UK banks risk losing licenses for debanking customers over political views
21.7.2023
The British government may impose tighter freedom of speech protections on banking permits following a public dispute between Nigel Farage and Coutts bank
Central Bank of Argentina Reduces Dollar and Yuan Disbursement to Importers
21.7.2023
Importers are accusing the Central Bank of Argentina of stalling on the delivery of dollar-based payments under the pretext of high freight costs. According to importers, the Argentine government considers freight costs exceeding 15% of the value of the merchandise imported as an inconsistency....
JPMorgan Warns Dollar Dominance Faces Risks From Political Instability, US-China Tensions
21.7.2023
JPMorgan has warned of the risks to the U.S. dollar’s dominance from escalating U.S.-China tensions and political instability. The global investment bank’s strategists anticipate “partial de-dollarization,” in which the Chinese yuan gradually assumes a more significant role...