UK is ‘likely’ to need digital currency, says BoE and Treasury: Report

The Bank of England (BoE) and Treasury believes the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Telegraph report on Feb. 4.  The “digital pound” roadmap is set to be introduced next week, a government source told the newspaper. Deputy Governor Jon Cunliffe is scheduled to give an update on the BoE’s work on the CDBC on Feb. 7 “On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely…

Kazakhstan’s digital currency in pilot stage, per Binance, National Bank joint report

The National Bank of Kazakhstan (NBK) has launched a digital tenge pilot project, according to a report published jointly by the bank and Binance on Feb. 3. The report looked at global approaches to digital asset regulation, the digital asset industry and decentralized finance (DeFi) in Central Asia and the Commonwealth of Independent States in particular.  In his introduction to the report, NBK Deputy governor Berik Sholpankupov wrote about the bank’s vision of a “collaboration between Traditional Finance and DeFi” that could increase financial inclusion and support international trade. He…

Zodia Custody Teams Up With SBI Digital Asset Holdings to Form Crypto Custodian in Japan

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say – Finance Bitcoin News

Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s Digital Ruble Said to Result in Losses for Banking Institutions Commercial banks may lose up to 50 billion rubles annually (almost $715 million) when a digital version of the ruble is introduced, according to a forecast produced by financial experts…

Marathon Digital Sells Mined Bitcoin for First Time to Monetize Recent Rally

The miner said in a release on Thursday that the decision was made to cover some of its expenses. “With bitcoin production increasing and becoming more consistent, we made the strategic decision to sell some of our bitcoin, as previously planned, to cover some of our operating expenses and for general corporate purposes,” Marathon’s Chairman and CEO Fred Thiel, said in a statement. The company still holds about 11,418 bitcoin in its reserve. Source

BNY Mellon Names Caroline Butler CEO of Digital Assets

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

India’s Reliance Retail, Other Merchants Now Accepting Digital Rupee

Meanwhile, India’s CBDC appears to have picked up speed. The retail CBDC pilot, which started in December in four cities (Mumbai, New Delhi, Bengaluru and Bhubaneswar), has “now been extended to 15 cities with Chandigarh as the newest addition,” the senior official told CoinDesk. “More than 50,000 customers and 10,000 small and big merchants have been onboarded now.” Source

United Kingdom Outlines Plans to Regulate Digital Currencies

While the UK government is serious about the introduction of the new rules, if it becomes law, it will take some years to complement and implement its provision. The United Kingdom is advancing its role in the regulation of the digital currency ecosystem as it recently unveiled its new guidelines to oversee the industry. As reported by CNBC, one major highlight is to curb the activities of crypto trading platforms in a bid to curb the series of events that stirred the implosion of the FTX Derivatives Exchange. According to…

EIB Launches First Digital Sterling Bond Product on Blockchain

The European Investment Bank occupies a very pivotal position in driving the financial landscape of the industry in the European Economic Area. The European Investment Bank (EIB) has launched the first Digital Sterling Bond on the blockchain as it deepens its use of the technology for more mainstream financial securities and products. As reported by Reuters, the EIB deployed a private blockchain to host the digital Sterling bonds, and it plans to float another copy on a public blockchain in a bid to foster transparency. The launch of the digital…

Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange

Place/Date: – January 31st, 2023 at 8:28 pm UTC · 4 min read Source: LBank Exchange Photo: LBank Exchange LBank Exchange, a global digital asset trading platform, listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and assets with cutting-edge technologies that have the potential to transform various industries and allow people to adopt crypto assets.…