Currently, the central bank of Russia has not made it possible to get a loan in digital rubles, but Askakov believes this will change “because it will be faster and, perhaps, more efficient.” If that happens, banks will not be needed at all, Askakov added. Source
“We have been working quietly but diligently to develop the necessary technology to launch arevolutionary decentralized marketplace for digital assets, compliant digital securities, and NFTswhile liaising with regulators to provide a highly regulated decentralized financial platform,” saidWilliam B. Heyn, co-founder and co-CEO, SOMA.finance and CEO of Tritaurian Capital.” Source
The European Central Bank (ECB) is quite happy with the European Commission’s (EC) legislative proposals for the digital euro. ECB executive board member Fabio Panetta told the European Parliament’s Committee on Economic and Monetary Affairs in a speech on Sept. 4 that the proposals “put Europe at the forefront of advanced economies” in CBDC development, potentially heading off private dominance of the financial sector and the ills that implies. The EC made its proposals public on June 28. Panetta, a critic of cryptocurrency, called the EC proposals for the euro…
The North Korean government is said to sponsor hackers to steal digital assets and fund its military operations, with on-chain analysis suggesting they have siphoned over $2 billion since 2018. The Republic of Korea (South Korea) is reportedly working on a bill to track and seize digital assets stolen by hackers from North Korea. According to a local media outlet, the Korea JoongAng Daily, government sources have confirmed that the bill is in the pipeline in a bid to strengthen the country’s cybersecurity. The government officials who remained anonymous to…
The director of Digital Currency Research Institute of the People’s Bank of China said that online platforms have the responsibility to adhere to the regulatory requirements. On Sunday, September 3, Changchun Mu, director of the Digital Currency Research Institute of the People’s Bank of China, emphasized the importance of wallet providers in enabling CBDC payment options across various retail settings. Mu’s comments come as China’s central bank digital currency (CBDC), the digital yuan, undergoes technological and business model enhancements. Speaking at the annual China International Service Trade Fair on Sunday,…
While China’s central bank digital currency (CBDC), the digital yaun, goes through technological and business model upgrades, wallet providers should facilitate payment options in all retail scenarios, according to a statement made by Changchun Mu, director of the Digital Currency Research Institute of the People’s Bank of China, on Sept. 3. In a speech at the annual China International Service Trade Fair, Mu said the digital yuan has “undergone a major upgrade” in terms of its “organizational forms” and business model. Now, it’s the turn of the payment tools to be upgraded.…
The Reserve Bank of India (RBI) central bank digital currency, the digital rupee, will have enhanced usability, Yes Bank announced Aug. 30. This was thanks to Yes Bank’s integration of the Unified Payments Interface (UPI) with the RBI digital rupee app. Now, Yes Bank account holders will be able to make transactions with the digital rupee by scanning UPI QR codes. The UPI is a national payment portal operated by the National Payments Corporation of India (NPCI), a division of the RBI. The NPCI provides the infrastructure for both the…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A group of IBM specialists has prepared some ideas regarding implementing the digital euro that the European Commission could consider. The tech consulting company highlighted five topics that could help design the digital currency. The five areas where the company focused on the draft were: Build on existing rails and provide enhancements for the digital euro. Extend PSD2(3) with a standard digital euro API for incumbents, FinTechs, and TPPs. Allow strong privacy for low-value proximity payments,…
“In 2022, stablecoins settled over $11t on-chain, dwarfing the volumes processed by Paypal ($1.4t), almost surpassing the payment volume of Visa ($11.6t), and reaching 14% of the volume settled by ACH, and over 1% the volume settled by Fedwire,” the authors wrote. Source
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