The optimum amount of digital euros to have in circulation would be between 15% and 45% of quarterly real gross domestic product (GDP), the economists found. Since the eurozone’s quarterly GDP is about 3 trillion euros, Panetta’s suggestion of a 3,000 euro cap would sit pretty much in the middle of that range, at 34%. Source
The Law Commission of England and Wales is proposing a number of law reforms to provide wider recognition and legal protections for cryptocurrency and digital asset users. The institution is reviewing existing legislation on digital assets at the request of the British government in an effort to accommodate the space as it continues to grow in reach and use. The Law Commission announced the call for public consultation from legal experts, technologists and users on Thursday. The proposal highlights the evolving nature and multi-faceted use of cryptocurrencies, nonfungible tokens (NFTs)…
A financial professor is skeptical about Bitcoin’s design but is still very much involved in crypto research and is bullish about the future of digital assets. A future without digital assets is hardly imaginable but Bitcoin (BTC) is far from being perfect by design, according to a finance professor at the London School of Economics (LSE). LSE financial professor Igor Makarov believes that digital money and digital assets will undoubtedly be part of the future of finance and their efficiency will depend much on their design. In an interview with…
A financial professor is skeptical about Bitcoin’s design but is still very much involved in crypto research and is bullish about the future of digital assets. A future without digital assets is hardly imaginable but Bitcoin (BTC) is far from being perfect by design, according to a finance professor at the London School of Economics (LSE). LSE financial professor Igor Makarov believes that digital money and digital assets will undoubtedly be part of the future of finance and their efficiency will depend much on their design. In an interview with…
“The fact that two-thirds of the over 2,000 commenters are pushing back against the idea of a CBDC shows not only that this is not the niche issue it once was a few years ago, but also that Americans recognize the very real risk a CBDC could pose to their financial freedom,” Nicholas Anthony, the Cato policy analyst who compiled the statistics, told CoinDesk in an email. Source
On Wednesday, the Web3 digital identity platform Unstoppable Domains announced the company has secured $65 million in financing in a Series A funding round led by Pantera Capital. The latest funding gives Unstoppable Domains a post valuation of $1 billion, pushing the blockchain startup up to unicorn status. Unstoppable Domains Joins the Growing List of Crypto Unicorns, Raising $65 Million Unstoppable Domains, the company that’s issued more than 2.5 million non-fungible token (NFT) domains, revealed it has closed $65 million in a Series A funding round at a $1 billion…
On Tuesday, a newly published report details that the cryptocurrency exchange Kraken is under federal investigation for allegedly violating U.S. sanctions, according to five people familiar with the matter. The unknown sources explained that the inquiry into Kraken started in 2019, and it’s accused of allowing users from sanctioned countries like Iran access to the digital currency trading platform. Treasury’s Office of Foreign Assets Control Is Allegedly Investigating Kraken The San Francisco-based crypto exchange Kraken is allegedly under investigation by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC),…
“Nubank has, in eliminating complexity, a value proposition that permeates all our products. With crypto activities, this becomes even more relevant due to the fact that it is a market with complex systems that make it difficult for people interested in taking their first steps to join,” Thomaz Fortes, leader of Nubank’s crypto area, said in a statement. Source
Web3 – also known as “Web 3.0” or “Web 3” is a term that has become increasingly popular as the evolution of the Internet advances with digital assets. The term itself describes the next generation of the Internet that allows users to participate beyond reading, enabled by Web 1, and writing, enabled by Web 2. For example, in the 1990’s, Web 1 was comprised mostly of a collection of links and homepages that were readable but not particularly interactive. In 2004, the next version of the Internet, Web 2 allowed…
The Metaverse will likely grow into a $1 trillion market according to a November 2021 report by Grayscale. With barely two years since the concept gained popularity, virtual worlds have become common amongst crypto natives, celebrities and big tech corporations, including Meta and Microsoft. Today, this nascent crypto ecosystem is touted as one of the promising niches, combining the power of Artificial Intelligence (AI), Virtual Reality (VR) and Blockchain. So, what exactly is driving adoption in the metaverse? First and foremost, blockchain-oriented virtual worlds are perhaps the closest we are…