Tag: Digital

Lightspark CEO says US lags UK in digital asset development

Lightspark CEO David Marcus recently expressed concerns about the United States falling behind in digital asset development, further intensifying discussions on global cryptocurrency competitiveness. In a recent statement, David Marcus, CEO of Lightspark and former PayPal president, expressed his frustration over the United States’ perceived lag in digital asset development compared to the rest of the world. Marcus previously spearheaded the Diem stablecoin initiative under Meta, a project later abandoned. Marcus communicated his concerns through Twitter, responding to a tweet by Fred Ehrsam, co-founder of Paradigm and former co-founder of…

Candy Digital and Palm NFT Studio Announce Merger

“We’re thrilled to bring together two teams that have been market leaders in innovation and fan engagement,” Lawin told CoinDesk. “Palm NFT Studio shares Candy’s excitement about the role that digital assets will play as the connective tissue between fans, brands and content in Web3, and we’re looking forward to bringing world-class brands like Warner Bros. Discovery and DC to the Candy platform and community.” Source

Digital euro proposal from European Commission seeks universal approval

On June 28, the European Commission unveiled its proposed legislative plan for a digital euro, with the intention of establishing it as a widely embraced and readily available payment method. The announcement emphasized the importance of enabling individuals to acquire digital euros through their banks upon request, ensuring convenient access and safeguarding against the risk of exclusion for citizens. Share customer data The European Commission published its legislative plans to underpin a digital, saying it would ensure Europeans can pay digitally for free across the currency zone. As part of a distinct…

European Commission Publishes Proposals to Preserve Cash and Create Digital Euro Framework

The European Commission’s proposals for the use of cash and the digital Euro contain similar content as a draft bill leaked earlier in June. The European Union has published proposals that seek to preserve the use of cash in the region, while simultaneously setting a framework for the possible issuance of a digital euro. According to proposals by the European Commission, the aim is to ensure that banknotes and coins are still as accessible as ever while digital options are also supported. The Commission said people in the EU have been…

UK Law Commission Proposes Building Rules for Governing Digital Assets

The UK Law Commission has submitted its proposal to the government to provide a comprehensive legal foundation for digital assets. As crypto adoption grows in the UK, lawmakers have started demanding a proper law base governing digital assets. The UK Law Commission has proposed having proper crypto rules to make the country a global hub for digital assets and non-fungible tokens. In a report on Wednesday, June 28, the independent panel of the Law Commission noted that the long-awaited recommendations “aim to provide a comprehensive legal foundation for digital assets,…

European Commission aims for universal acceptance with digital euro proposal

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On June 28, the European Commission announced it had proposed a legislative plan for a digital euro, aiming to make it a widely accepted and easily accessible form of payment. The announcement emphasized that allowing individuals to obtain digital euros through their banks upon request ensures easy accessibility and prevents citizens from being left behind. The proposal also includes provisions for free basic digital euro services, privacy protection and offline payments. In a separate proposal, the commission suggested that banks, insurers and funds should share customer data with fintech companies in…

Bankrupt Voyager Digital Incurs $1.1M Legal Fees in April

Kirkland & Ellis is currently the legal representative of many crypto exchanges that are faced with bankruptcy. Legal advisor Kirkland & Ellis has charged bankrupt crypto brokerage firm Voyager Digital the sum of $1.1 million in legal fees for their work in April. The fund is for fees and expenses related to its work on the erstwhile brokerage firm’s bankruptcy process. According to the documents, some of Kirkland & Ellis’ highest-paid partners charged as high as $2,000 per hour for their part of the litigation. Some other lawyers billed the…

European Commission Publishes EU Digital Euro Bill Featuring Privacy Controls, Offline Guarantee

“A digital euro would also enhance the integrity and safety of the European payment system at a time when growing geopolitical tensions make us more vulnerable to attacks to our critical infrastructure,” be available “to everyone, everywhere, for free,” and could stimulate innovation and competition in a market dominated by a few major players, mostly from the U.S., said Dombrovskis in the post co-authored with European Central Bank’s (ECB) Executive Board Member Fabio Panetta. Source

Could The Digital Pound Be Non-Blockchain? Bank Of England Explores Options

While cryptocurrencies are widely known for running on blockchain technology, the Bank of England’s upcoming digital pound, colloquially known as ‘Britcoin’, could end up operating on non-blockchain software. The bank is considering all alternatives as it moves forward with researching the viability and implications of creating a digital pound. Tom Mutton, who is spearheading the bank’s Central Bank Digital Currency (CBDC) project, highlighted the uncertainty around the choice of technology in a recent podcast interview with Bloomberg. During a meeting that brought together numerous technologists to discuss potential designs for…