Tag: Digital

Digital Assets Exchange Crypto.com Rolls Out Support for Two Little-Known Altcoins

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Singapore-based exchange giant Crypto.com is adding two small-cap altcoins to its roster which both offer users the ability to earn through active participation. First up is the move-to-earn Step App (FITFI), a Web 3.0 digital fitness protocol that merges exercise, socializing, playing and earning crypto into one. Crypto.com says that FITFI, which stands for Fit Finance, will be available for purchase using a variety of fiat currencies. The project began during the fourth quarter of 2021 and boasted over 113,000 sign-ups in advance of its recent beta launch. As part…

Shenzhen Residents to Receive 15 Million Yuan in Digital Currency – Featured Bitcoin News

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The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank, the People’s Bank of China (PBOC), continues to test its central bank digital currency (CBDC) with another digital yuan giveaway. The government of Shenzhen’s Futian district has announced that 15 million yuan ($2.27 million) in digital RMB (e-CNY) will be given to local residents Friday, Global…

Residents of 3 Chinese cities paying taxes and charges with digital yuan

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Residents in three major Chinese cities have begun paying tax, stamp duty and social security premiums using the country’s central bank digital currency — the digital yuan (e-CNY).  According to a domestic news report, a number of government agencies in the Zhejiang province — located just south of Shanghai — are currently running real world trials programs that involve citizens using the digital yuan to pay taxes. The Zhejiang Taxation Bureau is working with the country’s central bank — the People’s Bank of China (PBoC) — to explore a variety…

Minecraft-linked developers draw up pledge for NFT and digital asset engagement

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Over the weekend, Climate Replay, which comprises developers from the Mojang Group, the maker of the popular Minecraft series, posted a pledge regarding the responsible integration of nonfungible tokens, or NFTs, and digital currencies into gaming. “Games give us hope in a world that is increasingly uncertain. They help us unlock our creative potential and free us of real-world constraints — physical, financial or otherwise,” the team at Climate Replay said. However, they cautioned about the current state of digital assets intertwining with gaming:  “Most NFTs, and by consequence, most…

Bank of Russia Seeks to Allow Stock Exchanges to Trade Digital Assets – Regulation Bitcoin News

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The Central Bank of Russia has recently proposed authorizing traditional stock exchanges to operate in the digital assets market. Industry watchers say the regulator aims to provide investors with an option to trade cryptocurrencies in a controlled environment. Russian Stock Exchanges to List Digital Financial Assets, Central Bank of Russia Suggests Stock exchanges and central clearing counterparties may be allowed to facilitate the trading of digital financial assets (DFAs), a collective term encompassing cryptocurrencies and tokens under current Russian law. The proposal was put forward by the Central Bank of…

The Philippines will launch pilot wholesale central bank digital currency project

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The project will be led by an intersectoral domestic team, Diokno said, as well as “external advisers from international standard-setting bodies and multilateral institutions to build on training and knowledge sharing on CBDC development and implementation all over the world.” Diokno called the project “critical in constructing the BSP’s medium- to long-term roadmap for more advanced wholesale CBDC projects that will further strengthen the Philippine payment system.” A presentation prepared in advance of the roundtable stated, “There is minimal perceived added value for the use of retail CBDC in the…

NFTs are more than just digital art, here’s why

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So, you have heard about NFTs and how these “digital avatars” are printing money for their holders. In 2021, NFTs were so popular that the term was christened Word of The Year by a famed dictionary company. There is a social buzz around NFTs and probings as to whether they offer more than just being overpriced avatars, or come with no other utility behind the art, even with proof of ownership. NFTs are more than just get-rich-quick-schemes or digital art you can right-click save on. Apart from representing art, Non-Fungible…

Central Bank of Cuba to License Digital Asset Service Providers

The providers will be allowed to operate with virtual assets approved by the BCC, the resolution said, without disclosing further details. It did clarify that virtual assets “do not include digital representations of fiat currency, securities and other financial assets widely used in traditional banking and financial systems, which are regulated in other provisions of the Central Bank of Cuba.” Source