Tag: Digital

Alex Tapscott’s ‘Digital Asset Revolution’

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Decentralized finance (DeFi) has massive potential to transform traditional financial services. Data from Emergen Research recently found that the global DeFi platform market size is expected to reach $507 billion by 2028. Moreover, the total value locked within DeFi currently exceeds $75 billion, demonstrating fast-paced growth compared to previous months this year. Yet, DeFi’s potential may still not be realized by business leaders unfamiliar with the blockchain ecosystem. This notion is highlighted in Alex Tapscott’s recent book, Digital Asset Revolution. Tapscott, co-founder of the Blockchain Research Institute and managing director at Ninepoint Digital Asset Group, told Cointelegraph that he believes…

Vladimir Putin signs bill banning digital assets as payments into law

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Russian President Vladimir Putin has signed a bill into law prohibiting digital financial assets as payments more than a month after it was introduced to the country’s lower chamber of Parliament. In a Thursday update, the Russian State Duma noted that Putin signed a bill suspending certain parts of an existing federal law “on banks and banking activities,” effectively making it illegal for people to use cryptocurrencies to pay for goods and services. The initial draft of the bill from June 7 specified the “prohibition against the introduction of other…

Vladimir Putin Bans Digital Payments in Russia

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…

Putin Signs Law Prohibiting Payments With Digital Assets in Russia – Regulation Bitcoin News

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President Vladimir Putin of Russia has signed into law a bill banning payments with digital financial assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs, a legal category currently covering cryptocurrencies, as “monetary surrogates.” President Putin Approves Legislation Banning Digital Asset Payments in Russian Federation Russian President Vladimir Putin has signed a law imposing direct restrictions on the use of digital financial assets (DFAs) as a means of payment inside his country, the crypto page of the RBC business news portal reported. The…

More than 2.6 million users signed up for the City of Shenzhen’s digital yuan airdrop

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According to data obtained from local news outlet Sohu.com, the Shenzhen Chamber of Commerce has recorded over 2.6 million signups for its latest digital yuan, or e-CNY, airdrop. Two months prior, the City of Shenzhen announced that it would be airdropping 30 million of the e-CNY central bank digital currency, or CBDC, to local residents to stimulate consumer spending as a recovery measure to the country’s strict coronavirus lockdown.  Users who received the airdrops through a randomized lottery selection could then spend the e-CNY vouchers at various participating merchants’ terminals…

Philippines’ digital transformation could make it a new crypto hub

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Binance, the cryptocurrency exchange, has recently acquired a virtual asset service provider (VASP) license from the Bank of Spain in order to operate in the country. In its ambitious expansion plans that the cryptocurrency exchange is persisting despite the global jump and market slump in the cryptoverse, there is another country that Binance is looking toward — the Philippines. In June, the CEO of Binance, Changpeng Zhao, stated in a press briefing in Manila that the exchange is looking to obtain a VASP license in the Philippines. In addition to…

Digital Euro Would Be a Success Only If Widely Used, ECB Says

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…

US Tribal Nation-Backed Economic Zone Passes Rules Defining Digital Assets

“Now that we have clear digital asset definitions established, a milestone that many governments have still failed to achieve, we can move forward. The Zone can quickly pass thorough and comprehensive frameworks for the regulation of DAOs, stablecoins, and other facets of the Web3 space that are currently poorly defined in legal codes around the world,” Sam Trimnal, chairman of the zone authority, said in a press statement. Source

US Treasury calls for public comment on digital asset policy, following Biden’s executive order

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The United State Department of the Treasury has requested comments from the public on the potential opportunities and risks of digital assets in compliance with President Joe Biden’s executive order from March. In a Tuesday announcement, the U.S. Treasury said it was asking for input from the public that will “inform its work” in reporting to the president the possible implications of digital assets on the financial markets and payment infrastructures. Biden’s executive order directed the Treasury Department to take the lead among other government agencies in developing policy recommendations…

French central bank head announces beginning of wholesale digital euro project phase 2

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The first phase of experiments with a wholesale digital euro has been completed, and phase two experiments will begin this year, Banque de France governor François Villeroy de Galhau said Tuesday. Four or five new experiments are expected to be launched.  Speaking at the Paris Europlace International Finance Forum, the French central banker summed up the European Union’s achievements in crypto-asset regulation under the French presidency, mentioning Transfer Fund Regulation (Travel Rule) and Markets in Crypto-Assets (MiCA), specifically. The Eurosystem is looking at the scope and design of a digital…