Tag: Digital

Binance Unveils Local Digital Asset Platform in Kazakhstan

According to the General Manager of Binance Kazakhstan Zhaslan Madiyev, the platform has joint forces with five regulatory bodies in the country. As always, the popular crypto exchange Binance is expanding its horizon by launching a regulated platform in Kazakhstan. The company announced the new local digital asset platform in the country on June 20th after receiving a go-ahead in October last year. At the Astana International Financial Center (AIFC) in 2022, the AIFC Financial Services Authority (AFSA) gave crypto exchanges the license to manage a digital asset platform and…

Ripple gets in-principle nod for digital asset services in Singapore

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Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state. Ripple confirmed the approval from the Monetary Authority of Singapore (MAS) in a June 22 statement. The approval will allow its subsidiary — Ripple Markets Asia Pacific — to further scale its On-Demand Liquidity (ODL). The ODL helps Ripple’s customers to move XRP around the world without the banks intervening as intermediaries. We’re honored to obtain In-Principle Approval of a Major Payments Institution License from the…

Singapore takes the lead in establishing norms for ‘designated’ digital currency

Singapore’s central bank, the Monetary Authority of Singapore, has unveiled a proposed common protocol aimed at establishing clear conditions for the utilization of digital currencies. As financial institutions in the city-state embark on trials involving purpose-bound money, the regulator published a whitepaper, outlining technical specifications regarding the life cycle of such currency and emphasizing the importance of programming arrangements to ensure fund transfer occurs exclusively upon service fulfillment or adherence to specified terms of use. For use in online commerce and programmable rewards The Monetary Authority of Singapore (MAS) has unveiled…

Singapore MAS proposes digital money standards with major industry players

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The Monetary Authority of Singapore (MAS) released a proposal for a common protocol that would specify the conditions for the use of various types of digital currencies. On June 21 MAS published a whitepaper that covers technical specifications outlining the lifecycle of its new Purpose Bound Money (PBM) concept, along with the names of financial institutions and fintech firms that plan to pilot PBM. PBM plans to enable senders of digital currencies across different systems, such as central bank digital currencies (CBDCs) or stablecoins, to be able to specify conditions…

Five US enforcement agencies form new digital currency anti-crime task force

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A diverse group of United States enforcement agencies has made official its cooperation on crimes related to the darknet and digital currency with the announcement of the Darknet Marketplace and Digital Currency Crimes Task Force on June 20. The new organization will target “cryptocurrency-enabled crimes” such as drug trafficking, money laundering, theft of personal information and child exploitation. Representatives of Homeland Security Investigations (HSI) Arizona, the Office for U.S. Attorneys, the Internal Revenue Service Criminal Investigation, the Drug Enforcement Administration and the Postal Inspection Service signed a memorandum of understanding…

IoT-Powered Decentralized Exchanges: The Future of Digital Asset Trading

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The world of digital asset trading is rapidly evolving, and decentralized exchanges (DEXs) are becoming more popular as a way to trade assets in a peer-to-peer manner without relying on a centralized intermediary. However, the potential of these exchanges has been limited by the lack of effective technology to power them. Decentralized exchanges (DEXs) are a type of cryptocurrency exchange that operates on a distributed network, without the need for a central authority or intermediary. In contrast to centralized exchanges, which rely on a central authority to manage user data…