Tag: Digital

How laws for digital assets changed in 2022

Effective regulations are one of the key gateways to cryptocurrency’s mainstream adoption. Due to greater compliance, crypto businesses saw broader acceptance from regulators worldwide. While the crypto ecosystem was awarded countless operational licenses and exposure to new markets, the fall of Terraform Labs, FTX and Celsius, among others, had a negative impact on the industry’s reputation with investors and regulators alike. As we look back on 2022 and all it brought for the cryptocurrency industry, we’re highlighting how the regulatory landscape has changed for cryptocurrencies and the blockchain industry as…

Hackers steal $3.5M worth of digital assets from GMX whale

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Hackers have started the year with another exploit, with several million being taken from a whale holding large amounts of decentralized finance (DeFi) protocol GMX’s native token.  On Jan. 3, various community members saw suspicious movements of GMX tokens. Following this, security firms CertiK and PeckShield flagged the transactions as an exploit that drained $3.4 million worth of GMX tokens from a GMX whale. According to data analysis platform Lookonchain, the hackers took control of 82,519 GMX tokens and exchanged the assets for 2,627 Ether (ETH). Then, the attackers cross-chained…

Why Is Tron Founder Justin Sun Keeping Some of His Coins in Valkyrie Digital Assets?

“I don’t believe we’ve reached bottom,” said Bilal Little, president of DFD Partners, a distribution platform for asset managers, on CoinDesk TV’s First Mover program. “I still believe that there will probably be one or two more big headline issues that will drop in that will cause some impact on the marketplace. But once we hit somewhere in between, call it $12,000 to $13,000 or so, we should have a good flush of the system.” Source

Gemini’s Cameron Winklevoss Insists Digital Currency Group Needs to Resolve Liquidity Issues in Open Letter to CEO Barry Silbert – Bitcoin News

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Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social media, denying the claim. Gemini Co-Founder Publishes Open Letter to DCG Chief Executive Barry Silbert Demanding He Resolves Liquidity Issues by Jan. 8, 2023 Gemini co-founder Cameron Winklevoss shared an open letter on Twitter on…

Türkiye to use blockchain-based digital identity for online public services

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Türkiye, formerly known as Turkey, plans to use blockchain technology for online public services logins. e-Devlet, Türkiye’s digital government portal used to access a wide range of public services, will use a blockchain-based digital identity to verify Turkish citizens during login. Fuat Oktay, vice president of the Republic of Türkiye, announced during the Digital Türkiye 2023 event that citizens will be able to use blockchain-based digital identity to access e-wallet application, Cointelegraph Turkey reported. Oktay called the blockchain-based application a revolution for e-government efforts, adding that online services will be more…

Blockchain-based Digital Identification For Online Public Services In Turkey

The process of registering for online public services in Turkey is going to incorporate blockchain technology at some point in the not-too-distant future, according to the plans of the Turkish government. E-Devlet is a digital government site that is utilized in Turkey to access a broad variety of public services. In order to validate the identity of a resident of Turkey who logs into E-Devlet, the site will use a digital identity that is based on blockchain technology. This will make it possible for E-Devlet to check the resident’s capability…

Bill on Digital Ruble Submitted to Russian Parliament – Finance Bitcoin News

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A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament. The legislation introduces rules determining how the new form of national fiat will be issued and amends a series of legal acts to facilitate its implementation. Bank of Russia to Be the Sole Operator of the Digital Ruble Platform A group of Russian lawmakers, led by the Chairman of the Financial Market Committee Anatoly Aksakov, have submitted draft legislation on the digital ruble, the central bank digital currency (CBDC)…

China’s Digital Yuan Little Used, Former Central Bank Official Says – Finance Bitcoin News

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Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used to Cash and Cards, Ex-PBOC Executive Notes Usage of China’s central bank digital currency (CBDC) has been “low, highly inactive,” according to Xie Ping, former director-general of research at the People’s Bank of China (PBOC).…

Central Bank of Turkey Reports First Payment Transactions on Digital Lira Network – Finance Bitcoin News

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The Central Bank of the Republic of Turkey (CBRT) has conducted the first payment transactions on the test network of the digital lira. The monetary authority intends to proceed with more testing in 2023 and plans to invite banks and fintech companies to join the trials. Turkey to Widen Participation in Digital Lira Project, Focus on Studying Economic and Legal Aspects Turkey’s monetary authority has successfully carried out the first payment transactions on the Digital Turkish Lira Network, according to an announcement on Thursday. The operations were executed as part…