“A team of 30 seems like quite a significant resource to focus on the digital pound,” said Ian Taylor, a board adviser for trade association CryptoUK, according to the newspaper. “It shows the impact it would have, and that the Bank are serious about it.” Source
Two Texas lawmakers have introduced identical bills for creating a state-based digital currency backed by gold, a move that comes despite objections from several United States lawmakers against introducing a central bank digital currency (CBDC). Senator Bryan Hughes introduced Senate Bill 2334 on March 10, and Representative Mark Dorazio introduced House Bill 4903 on the same day, stating that a fractional equivalent amount of physical gold would back the proposed digital currency. “Each unit of the digital currency issued represents a particular fraction of a troy ounce of gold held in trust,”…
Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State and, as an alternative digital currency, it could provide Texas residents with the ability to circumvent a central bank digital currency (CBDC). S.B. No. 2334 Introduces the Establishment of a Digital Currency Backed by Gold in Texas In recent times, U.S. lawmakers have been discussing the reimposition of…
Crypto miner Sphere 3D has filed a lawsuit against its partner Gryphon Digital Mining after an allegedly spoofing attack led to the irregular transfer of Bitcoin (BTC), according to court documents on April 7. “Today we filed litigation against Gryphon, the custodial management services provider of our blockchain and cryptocurrency-related services, for materially breaching the Master Services Agreement (“MSA”) we entered into with Gryphon,” said Patricia Trompeter, CEO Sphere 3D in a statement for investors, adding that “Gryphon has put the Company’s assets at significant risk and willfully violated their…
A Pheu Thai candidate running for prime minister of Thailand position, Srettha Thavisin, has promised that every citizen in the country will receive 10,000 Thai baht ($300) in digital currency if he wins the general election in May. However, a minister within the prime minister’s office in Thailand is concerned and has explained that the proposed airdrop could pose major challenges with specific implications. Thailand Prime Minister Candidate’s $300 Airdrop Promise Raises Concerns On Wednesday, Srettha Thavisin, a Pheu Thai candidate for prime minister of Thailand, declared that if his…
The complaint, filed with the Southern District of New York on Friday, alleges Gryphon CEO Rob Chang wired 18 of Sphere 3D’s bitcoin to an address belonging to a fraudster who masqueraded as Sphere 3D’s chief financial officer in January, and another eight bitcoin to the same address a few days later. The lawsuit also alleges Gryphon provided “abhorrent” services to its partner and misrepresented Sphere 3D’s computing power as its own in public disclosures. Original
On March 15, the European Parliament voted 418 to 103 (with 24 abstentions) in favor of negotiating a mandate for talks with the European Union member states about revising the new European Digital Identity (eID) framework and creating the “European Digital Identity Wallet,” also known as EUDI Wallet or EU wallet. Citizen’s IDs, health cards, certificates and many other documents could soon be digitally stored in a smartphone application for EU citizens. According to an official statement from the European Parliament, the system would allow citizens to identify and authenticate…
Islamic banking and finance is a system based on the principles of Shariah, or Islamic law, which, among many other things, prohibits the charging or paying of interest on loans and emphasizes ethical and equitable financial transactions. One of the more notable traits of Islamic banking is its prohibition on charging or paying interest on loans, which is the basis of conventional banking. Instead, Islamic finance is based on profit and loss-sharing agreements between the lender and the borrower. The lender shares the investment risk with the borrower, and both…
Amidst its woes Marathon Digital secured a loan from the now defunct Silvergate Bank, a deficit it said it has been able to completely offset. American Bitcoin (BTC) mining firm Marathon Digital Holdings Inc (NASDAQ: MARA) has posted a better-than-expected report for the first quarter in which the firm said it mined a total of 2,195 Bitcoin. According to the firm’s update, it attained its highest production month-on-month in March when it mined a total of 825 BTC. Per the report, the March production came in at a 21% upshoot…
With the Ethereum ecosystem regarded as the epitome of the decentralized financial ecosystem, POG Digital anticipates attracting more volume than Solana. POG Digital, an authentic 90’s game and collectibles brand, is set to launch on the largest DeFi ecosystem, Ethereum, after a successful debut on the Solana ecosystem last year. According to POG Digital, the minting of NFTs on the Ethereum network will kickstart on April 6 with a supply of 4,444 units. The expected floor price of the POG NFTs on the Ethereum network during tomorrow’s mint is about…