Tag: Digital

Buffett-backed digital bank Nubank to launch its own cryptocurrency

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Jakub Porzycki | NurPhoto | Getty Images The Brazilian digital banking startup Nubank will launch its own cryptocurrency in the country next year, marking the latest move into digital assets by a large financial institution. Nubank said Wednesday it will launch the token, called Nucoin, in the first half of 2023. In a press release, the company touts Nucoin as “a new way to recognize customer loyalty and encourage engagement with Nubank products.” Nubank said it plans to offer discounts and other perks to holders of the token. “The project…

Israel kicks off live tests for its tokenized digital bonds

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The Israeli Ministry of Finance, together with the Tel Aviv Stock Exchange (TASE), digital assets custody provider Fireblock and the United States software solutions developer VMware, will conduct the testing of a blockchain-backed platform for digital bonds trading. These bonds will be issued by the Ministry of Finance.  The news broke out in the local media on Oct. 19. Coming under the name “Eden,” the new project is intended to reduce costs and optimize the procedure of national bonds issuance. As the Accountant General, Yali Rothenberg told the public: “I…

IRS introduces broader ‘Digital Assets’ category ahead of 2022 tax year

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American taxpayers will find a broader, more defined category encompassing cryptocurrencies and nonfungible tokens (NFTs) in their 2022 IRS tax forms. The draft bill released by the Internal Revenue Service features a well-defined Digital Assets section that outlines if and how taxpayers will account for the use of cryptocurrencies, stablecoins and NFTs. Page 16 of the draft defines Digital Assets as any digital representations of the value recorded on a ‘cryptographically secured distributed ledger or any similar technology.’ 2021’s tax form required taxpayers to indicate whether they had received, sold or…

Israel’s Government and Tel Aviv Stock Exchange Preparing to Issue Digital State Bond

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France’s 3rd Largest Bank Societe Generale’s Subsidiary Obtains Registration as Digital Asset Service Provider – Regulation Bitcoin News

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Societe Generale-Forge, a subsidiary of France’s third-largest bank, has obtained registration with the Autorité des marchés financiers (AMF), the French financial markets regulator, as a digital asset service provider. Societe Generale’s Subsidiary Registers as Digital Asset Service Provider The digital asset subsidiary of Societe General Group, Societe Generale-Forge, is now registered with France’s financial regulator, the Autorité des marchés financiers (AMF). Societe Generale is France’s third-largest bank by total assets. According to the AMF’s list of registered Digital Asset Service Providers (DASPs), Societe Generale-Forge obtained registration on Sept. 27. The…

Voyager Digital won’t sue its executives for incompetence, will claim insurance on them

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Voyager Digital has preferred not sue its top executives for incompetence, in spite of their role in approving a huge loan to Three Arrows Capital (3AC) without adequate due diligence. That loan was a key element leading to Voyager Digital’s bankruptcy. Court papers filed Oct. 17 show that a Voyager Digital internal special committee has proposed that CEO Stephen Ehrlich and chief commercial officer (formerly chief financial officer) Evan Psaropolous keep their jobs and not be sued. The court filing describes the due diligence process for the 3AC loan: “On…

Macau’s Digital Currency Embrace Could Be a Nightmare for Its Casino Industry; Bitcoin Points Upward

The largest cryptocurrency by market capitalization was recently trading above $19,500, up about 1.4% over the past 24 hours, swept up in a wider, likely temporary embrace of more traditional markets. Ether also recently rose about the same and was recently changing hands over $1,300. Other major altcoins spent much of the day in the green, with ATOM and MATIC among the biggest gainers for cryptos with at least a $1 billion market cap, each rising about 5%. The CoinDesk Market Index (CMI), a broad-based market index that measures the…

Texas Securities Regulators and Attorney General Object to FTX Purchasing Voyager Digital – Regulation Bitcoin News

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Regulators from the state of Texas and the state’s attorney general are objecting to FTX purchasing Voyager Digital, as the state’s securities commissioner needs to “determine whether FTX US is complying with the law.” Texas State Securities Board, Department of Banking, and Attorney General File Objection Against FTX Buying Voyager Digital According to a bankruptcy court document filed on October 14, 2022, the Texas State Securities Board (SSB), the Texas Department of Banking, and the Texas attorney general are objecting to FTX’s solicitation of Voyager Digital. FTX, the exchange led…

Société Générale progresses in crypto space with digital asset services registration

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The French stock market regulator, the Autorité des marchés financiers (AMF), approved France’s Société Générale bank as a digital assets service provider (DASP) on Sept. 27. Société Générale joined international operators such as Voyager, Bitpanda, Binance and Etoro as registered DASPs. The bank did not announce its approval.  Société Générale’s digitally focused Forge subsidiary was registered to provide digital assets custody, the purchase/sale of digital assets for legal tender and the trading of digital assets against other digital assets. The French bank announced in June that it was partnering with…

How an Online Community Becomes a Digital City

The DAO essentially meets online via the chat app Discord, where it has various interest channels including fashion, music and art. FWB is the native token of the DAO, and anyone with 5 FWB can become a local member, which grants them access to Discord channels, a newsletter, livestreamed event content and other semi-exclusive perks. To become a global member, one must fill out an application, pass an interview with one of the 20-30 rotating members of the FWB Host Committee, and then purchase 75 FWB at market price. Membership…