Tag: Digital

Just Saying No to Digital Dollars Means Cementing the Surveillance Status Quo – CoinDesk

Whether the U.S. participates or not, the rest of the world is exploring and deploying CBDCs. According to the Atlantic Council, 114 countries, representing more than 95% of global gross domestic product, are exploring CBDCs. Actively engaged in this digital gold rush are 19 of the G-20 countries, including India, Japan, Russia and South Korea, each of which has made significant recent progress. The European Central Bank is expected to introduce a prototype for a “digital euro” by the end of 2023, becoming more widely available by 2025. The central…

Just Saying No to Digital Dollars Means Cementing the Surveillance Status Quo — CoinDesk

Whether the U.S. participates or not, the rest of the world is exploring and deploying CBDCs. According to the Atlantic Council, 114 countries, representing more than 95% of global gross domestic product, are exploring CBDCs. Actively engaged in this digital gold rush are 19 of the G-20 countries, including India, Japan, Russia and South Korea, each of which has made significant recent progress. The European Central Bank is expected to introduce a prototype for a “digital euro” by the end of 2023, becoming more widely available by 2025. The central…

US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency – Regulation Bitcoin News

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U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose without the possibility that every transaction could be tracked by the government.” Senator Ted Cruz’s CBDC Bill U.S. Senator Ted Cruz (R-TX) announced Tuesday that he has reintroduced “legislation to prohibit the Federal Reserve from…

In Defense of a Digital Dollar

On the issue of instant payments networks, the U.S. is already behind many of its G-20 counterparts, and is hoping to catch up with FedNow this year. FedNow, however, does not connect individuals with CBDCs. Its audience is financial institutions, which will be able to finalize transactions faster with each other, if the program is ever fully rolled out. It will also not offer other benefits such as interoperability with other assets and technological benefits of transaction speed, cost and, most of all, transparency in money flows. Experimentation on the…

Crypto Exchange Bitget Invests $30M in Digital Wallet BitKeep

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Marta Belcher: Reframing Privacy for the Digital Age

CryptoX – Cryptocurrency Analysis and News Portal Somehow we accept that financial transactions get turned over to the government by default without a warrant, says civil liberties lawyer Marta Belcher, a speaker at this year’s Consensus festival. Source The post Marta Belcher: Reframing Privacy for the Digital Age appeared first on CryptoX. CryptoX Portal

CryptoUK calls on regulators to address de-banking of digital asset firms

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The self-regulatory trade association CryptoUK has proposed providing a ‘white list’ of registered firms in the United Kingdom to address banks limiting or banning transactions to crypto companies. In separate letters to U.K. Economic Secretary Andrew Griffith and members of the Financial Conduct Authority and Payment Systems Regulator dated March 21, CryptoUK said many banks had begun imposing blanket bans on dealing with crypto firms “instead of taking a risk-based and case-by-case approach.” The association proposed the creation of a ‘white list’ of registered crypto companies allowing them to conduct…

Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements – Taxes Bitcoin News

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The Argentine tax authority (AFIP) is increasing its scrutiny when it comes to digital wallets. The institution recently revealed it found irregularities in at least 184 tax statements that include digital wallets and cryptocurrencies. These taxpayers did not include their wallet holdings as part of their 2021 tax statements, leaving close to $7.6 million in such assets undeclared. Argentine Tax Authority AFIP Finds Irregularities The Argentine tax authority has ramped up its vigilance for digital and cryptocurrency taxes. Recently, the institution announced that it had discovered a series of irregularities…

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

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Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. “The Biden administration’s efforts to inject a centralized bank digital currency is about surveillance and control,” the governor warned. Governor Ron DeSantis Proposes Law to Prevent Financial ‘Weaponization’ Through a CBDC Florida Governor Ron DeSantis announced “comprehensive legislation” Monday to protect consumers and businesses in his state “from the Biden administration’s weaponization of the financial sector through a central bank digital currency (CBDC).”…