Tag: Digital

Russian CBDC by 2025? What’s happening with the digital ruble

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The Central Bank of the Russian Federation’s (CBR) central bank digital currency (CBDC) project has been developing rapidly. The first news about the initiative appeared in 2020, and a regulatory bill was introduced in 2022, which has now passed through its final reading in the parliament’s lower chamber, the Duma. However, the final rollout of the “digital ruble” among the general public will not happen until 2025–2027, as CBR First Deputy Governor Olga Skorobogatova recently revealed. The timeline still looks optimistic in the global context. According to a recent PwC…

South Korea Embraces Blockchain: New Digital Asset Act, K-Culture Tokenization, and More

According to the Polymesh report titled “Regulatory Developments in Digital Assets”, South Korea has made a significant move in the crypto industry by passing the “Digital Asset Basic Act” (DABA). This Act introduces 17 legislative proposals aimed at balancing blockchain development with investor protection. The Act, which is expected to be implemented into law in June 2024, includes measures such as capital reserve requirements for exchanges and the establishment of a separate market for digital securities. Shinhan Bank, the nation’s oldest bank, has also become an equity investor in the…

SEC accepts bitcoin ETF applications from BlackRock, Fidelity, Galaxy Digital

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC has initiated the acknowledgment process for spot bitcoin ETF applications. This sets the stage for the potential acceptance of the first such funds in the United States. The SEC has begun acknowledging these spot bitcoin ETF applications. ETF Research Analyst at Bloomberg Intelligence James Seyffart first noticed the move and took it to Twitter. The acknowledgment of applications included those from BlackRock, Fidelity, WisdomTree Funds, Invesco US, and VanEck. The list is published on…

Hedge Fund Fir Tree Creates Fir Tree Digital Asset Opportunities Fund

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United Kingdom’s digital pound meets public backlash — Why?

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British society is both civil and democratic, so it wasn’t unexpected that the government of the United Kingdom would “consult” the public before signing off on a digital version of the British pound. The response it received may have been surprising, though. The public canvassing conducted jointly by His Majesty’s Treasury and the Bank of England between February and June of 2023 drew some 50,000 responses, and it unleashed a “public backlash,” according to The Telegraph — a U.K. newspaper — with “widespread public concern about privacy as well as…

Crypto miner Hive Digital drops ‘blockchain’ from name amid pivot to AI

Crypto mining firm Hive Blockchain is now calling itself Hive Digital Technologies — after enacting a branding pivot that seeks to highlight its foray into artificial intelligence. The Vancour-based mining company said in a July 12 statement it has dropped “blockchain” from its name to better represent the company’s “evolving focus” on revenue opportunities in graphics processing units (GPUs) and cloud computing as well as “its mission to drive advancements in AI” and support the “new Web3 ecosystem.” “As we expand our GPU Cloud business, we require a strategy that…

Astar Foundation partners with NTT Digital to foster web3 innovation and drive adoption

Astar Foundation, a smart contract platform for multi-chain solutions, has partnered with NTT Digital, a subsidiary of NTT DoCoMo, one of Japan’s leading telecommunications companies, to advance the innovation and mass adoption of decentralized technologies. Astar Foundation partners with NTT Digital The partnership will primarily focus on two key areas. Firstly, by recognizing the shortage of web3 talents as a barrier to mass adoption, Astar Foundation and NTT Digital will collaborate to support individuals aspiring to pursue careers in the domain. The initiatives will include developing the abilities and skills of…

Bank of China trials offline payments for digital yuan via SIM cards

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Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method is designed specifically for the digital yuan, also known as the e-CNY, which is China’s central bank digital currency (CBDC) currently being tested. This announcement was made by the bank on Monday in a social media post, revealing their partnership with telecommunication operators China Telecom and China Unicom and their intention to commence testing on Tuesday. The bank plans to enable…