The National Bank of Ukraine says it is looking at retail payments, virtual asset circulation and cross-border transactions as possible use cases for a central bank digital currency. Source
Ukraine Considering CBDC That Can Facilitate Crypto Trading
Day: November 29, 2022
Dominica works with Huobi for digital identity program
Cryptocurrency exchange Huobi has partnered with the Commonwealth of Dominica to roll out a digital identity and national token service that promises digital citizenship of the West Indian island nation. Not to be confused with the nearby, larger Dominican Republic, Dominica is home to some 72,000 people and is situated in the middle of the Lesser Antilles archipelago. The government is looking to explore metaverse and Web3 technology to drive its development and attract talent from the cryptocurrency and blockchain ecosystem. The island nation is one of the first Caribbean…
Korean Crypto Exchange Upbit's Parent Q3 Profit Slides 73%: Report
Dunamu’s net profit dropped to 160 billion won ($120 million), hit by lower trading and crypto market declines, CoinDesk Korea reported Tuesday. Source
Bitcoin shrugs off BlockFi, China protests as BTC price holds $16K
Bitcoin (BTC) held crucial $16,000 support into Nov. 29 as bulls weathered ongoing FTX fallout and macro triggers. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader teases BTC long as $16,500 reappears Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD leaving lower levels untouched overnight. The pair had seen a flash downturn after the Nov. 27 weekly close thanks to uncertainty from China over COVID-19 measures. A recovery nonetheless took the market higher, with $16,500 coming into play at the time of writing. As Cointelegraph reported, traders and analysts…
Dogecoin (DOGE) Remains Bullish Above $0.09; Eyes $0.15
DOGE’s price remains bullish as price holds above $0.1 Price remains strong as bulls dominate the market; the price aims for a rally toward $0.15 DOGE’s price trades above the daily 50 and 200 Exponential Moving Averages (EMA) The price action displayed by Dogecoin (DOGE) has been a show to watch, outperforming the likes of Ethereum (ETH) and Bitcoin (BTC) in recent days. In the high timeframe, the price of Dogecoin (DOG) looks strong, with a probable result of an uptrend movement if the market remains optimistic. Despite the relief…
Blockchain-based fintech company prepares to enter $500B freight settlement market
The world is quick to blame inflation for the rising prices at grocery stores and retailers. This was the #1 political issue for recent Election Day voters in the United States. For example, media sources recently reported poll data that 85% of Americans could not afford to spend $200 on a Thanksgiving meal in November 2022, and only 25% could afford $100. However, few recognize inflation is only part of the problem. Higher costs for products and services are also directly attributable to settlement fees paid by transportation providers who…
BlockFi bankruptcy filing triggers a wide range of community reaction
As crypto lending platform BlockFi filed for bankruptcy, members of the crypto community reacted with mixed feedback as another platform fell during the current bear market. Despite BlockFi citing the FTX contagion as the reason for its bankruptcy filing, podcaster Matt Odell pointed out a different explanation. Odell wrote that the lending platform went bankrupt because it was lending customer funds to high-risk traders who played with leverage recklessly. “This is a tale as old as Bitcoin, leverage kills, and trusted third parties are security holes,” he added. In a…
FTX reportedly used Alameda’s bank accounts to process customer funds
The FTX contagion saga sees new revelations around its misconduct every other day, and the latest one solidifies the collusion between the failed crypto exchange and its sister company Alameda Research from the very beginning. FTX, like many other crypto exchanges, found it difficult to get a banking partner to process fiat transactions- as banks have been hesitant to tie up with crypto exchanges due to a lack of regulatory oversight. FTX overcame this problem by using its sister company’s banking accounts to process transactions for the crypto exchange. Former…
First US state to ban nearly all crypto mining: Law Decoded, Nov. 21-28
The state of New York became the first in the United States to impose a moratorium on proof-of-work (PoW) mining, albeit only for two years and limited in nature. Last week, New York Governor Kathy Hochul signed the moratorium into law, prohibiting any new mining operations that aren’t based on 100% renewable energy. The renewal of licenses will also be frozen. In eight months, the anti-mining bill made its way from the State Assembly to the governor’s pen. The statewide development seems unlucky for New York City Mayor Eric Adams,…
National Bank of Ukraine releases draft concept for digital hryvnia
The National Bank of Ukraine (NBU) has introduced a draft concept for its central bank digital currency (CBDC) candidate digital hryvnia, or e-hryvnia. Ukraine’s central bank on Nov. 28 released a statement on the concept of e-hryvnia, which aims to perform all the functions of money by supplementing cash and non-cash forms of the hryvnia as its key purpose. The NBU said it has presented the e-hryvnia concept and continues developing the CBDC project with participants of the virtual assets market, payment firms and state bodies. According to the announcement, the…