Tag: Digital

Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs – Finance Bitcoin News

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The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank to Propose Platforms for Digital Currency Payments in Foreign Trade Moving forward with efforts to introduce its central bank digital currency (CBDC) amid sanctions and financial restrictions, the Bank of Russia is preparing to offer solutions for processing cross-border CBDC payments, the Russian press unveiled. The proposals are…

Gemini Co-Founder Accuses Digital Currency Group of Misrepresentation, Demands CEO Resignation – Bitcoin News

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Gemini CEO Cameron Winklevoss has published another open letter on Twitter, addressed to the board members of Digital Currency Group (DCG). In the letter, Winklevoss accuses DCG and CEO Barry Silbert of making poor decisions with the now-defunct crypto hedge fund Three Arrows Capital (3AC), and claims that DCG orchestrated a “campaign of lies” in order to deceive Gemini and Earn users into thinking everything was fine. Winklevoss is demanding that the DCG board remove Silbert from his role as CEO, as Gemini believes “there is no path forward” with…

Tether Comes Under Threat But Snowfall Protocol Stands Strong While EU Approves Digital Euro!

The digital euro has been proposed in theory for many years. Since October 2021, the European Central Bank (ECB) and the  national central banks of the euro area have been investigating the Euro Digital project. Finally, while the investigation continues in 2023, the ECB plans to launch the Digital Euro in autumn 2023. The Governing Council of the project  also recently approved the design and distribution strategy of the Digital Euro. As central banks like the ECB jump on the crypto  bandwagon, that raises a big question mark for stablecoins…

Crypto Miner Marathon Digital Downgraded by Jefferies on Construction Delays

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Mexico’s digital peso delayed, unclear launch date

Mexico’s central bank digital currency (CBDC) development is still in an initial phase, and it is unlikely to be ready for launch by 2024.  According to local media reports, Mexico’s central bank, known as Banxico, is currently working on legal, administrative, and technological requirements for the peso’s digital version. The first of three stages for the proposed launch timeline. In December 2021, the local government announced its plan to introduce a national digital currency, noting on a Twitter post that the “new technologies and next-generation payment infrastructure” would improve Mexico’s…

Mexico’s digital peso delayed, launch date unclear

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More than a year after it was announced, Mexico’s proposed central bank digital currency (CBDC) is still in the initial phase and unlikely to meet its 2024 launch date.  According to local media reports, Mexico’s central bank, known as Banxico, is working on legal, administrative and technological requirements for the peso’s digital version.  In December 2021, the local government announced its plan to introduce a national digital currency, noting in a tweet that the “new technologies and next-generation payment infrastructure” would improve Mexico’s financial inclusion. While that tweet mentioned a launch in…

Digital Currency Group under investigation by U.S. authorities: Report

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Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice’s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report.  The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm Genesis Global Capital, noted the report citing people familiar with the matter. Prosecutors have already requested interviews and documents from both the companies, while the SEC is running an early-stage similar inquiry. As of yet, no indictment has been brought…

Digital Asset Exchange Giant Huobi Plans To Lay Off 20% of Its Staff Amid Ongoing Crypto Winter: Report

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The Seychelles-based crypto exchange giant Huobi is reportedly planning to lay off 20% of its staff as the ongoing bear market continues to thrash companies across the industry. Reuters reports that Huobi says “a very lean team will be maintained going forward” amid the crypto winter. Tron (TRX) founder Justin Sun, a member of the Huobi advisory board, tells the outlet that the workforce reduction is expected to be completed by the end of the first quarter of this year. The exchange’s planned layoffs are the latest in a series…

Federal Prosecutors in New York Probe Digital Currency Group and Subsidiary Genesis – Bitcoin News

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Following accusations from Gemini co-founder Cameron Winklevoss in an open letter to Digital Currency Group CEO Barry Silbert, a report citing “people familiar with the matter” states that federal prosecutors from New York are scrutinizing transfers between Digital Currency Group and its subsidiary, Genesis Global Capital. Report Claims Digital Currency Group, Genesis Global Capital Allegedly Face Scrutiny from Federal Prosecutors in New York According to a recent letter from Cameron Winklevoss, co-founder of the crypto exchange Gemini, Digital Currency Group (DCG) has until Jan. 8, 2023, to resolve liquidity issues…

Thai SEC Launches ‘Crypto Academy’ to Help Digital Asset Investors – Regulation Bitcoin News

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The Thai Securities and Exchange Commission (SEC) has launched a crypto academy where investors can learn about digital assets free of charge before investing. “The more you know your investments, the less risk you will have,” the Thai regulator emphasized. Thai SEC’s Crypto Academy Launched The Thai Securities and Exchange Commission (SEC) announced Wednesday that it has launched “Crypto Academy” to provide free online resources and courses on digital assets. The initiative aims to equip the public with in-depth knowledge of digital assets and blockchain technology before they invest, the…