Day: March 7, 2023

WeChat integrates digital yuan into its payment platform

boss

WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to help broaden the appeal of the digital yuan. WeChat now supports the fast payment function of the digital yuan wallet, making it the second payment platform to do so after Alipay. This feature enables users to use the digital yuan for payments on certain WeChat mini-programs and other platforms. The pilot version of the digital yuan application’s “Wallet Quick…

China announces plans for new national financial regulator

The Chinese government has plans for a governmental overhaul, according to a new announcement. This includes introducing a new national financial regulator. On Tuesday, March 7, the government announced that its current banking and insurance watchdog, the China Banking and Insurance Regulatory Commission (CBIRC), will be abolished. The responsibilities which previously belonged to this commission will be moved to a brand new administration, as will particular functions of the central bank and securities regulator. The legislature will vote on a plan for institutional reform on Friday, March 10. When in…

South Korea saw over $4B in unregistered crypto transactions in 2022

boss

In 2022, the citizens of South Korea transacted $4.3 billion (5.6 trillion Korean won) through ‘illegal’ crypto exchanges, according to local sources. The country’s government has been especially attentive toward such money movement amid the tightening regime of licensing.  On March 7, the local media published the numbers the Korea Customs Service provided. According to Customs, the overall amount of funds caught in economic crimes increased significantly from 3.2 trillion won in 2021 to 8.2 trillion won ($6.2 billion) in the last year. Crypto transactions made up almost 70% of…

Shellboxes, an Industry-Leading Cyber Security Firm, Declares Continuous Commitment to Protect Blockchain Projects From the Growing Threat of Cyber Attacks – Press release Bitcoin News

boss

press release PRESS RELEASE. Shellboxes, a leading Web 3 company with top-level blockchain security and consulting services, has announced its commitment to help project owners stay protected amid rising cyberattacks in the industry. The Shellboxes team has raised the alarm over the carefree attitude of most Web 3 project owners who pay little to no attention to the growing risk of cyberattacks. According to a report by Chainalysis, 2022 witnessed the most significant loss of crypto assets to hackers. The report revealed a whopping $3.8 billion was stolen, mainly from…

Investment Firm Republic Purchases 10M Astra Protocol Tokens in New Deal

“The events of the last year have made it clear that legitimate crypto and DeFi projects with a long-term strategy can no longer afford to operate outside the bounds of TradFi regulatory frameworks,” said Republic Crypto head Andrew Durgee in a press release. ”Astra Protocol converges the best of both worlds for individual users, allowing everyone to continue reaping the benefits of Web3 without compromising their privacy, security, or anonymity.” Source