Tag: Digital

Congressmen tell SEC redefining long-standing concepts would be bad for digital ecosystem

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Ranking member of the United States House Financial Services Committee Patrick McHenry and ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets Bill Huizenga sent a letter Monday to Securities Exchange Commission (SEC) Chairman Gary Gensler to express their concerns about proposed SEC amendments to the Exchange Act of 1934 that would expand the definition of an exchange and the phrase “as a part of regular business.” The congressmen said the changes could stifle innovation in the digital asset ecosystem. Each said they understand that Communication Protocol…

Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments – Regulation Bitcoin News

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Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms operating with digital assets. Russian Citizens Who Don’t Pass Test to Buy Only $600 Worth of Crypto Annually The Ministry of Finance of Russia recently submitted to the government an updated version of its bill “On Digital Currency” designed to comprehensively regulate the country’s crypto market. Details about the law’s…

Digital Assets Exchange Crypto.com Lists Three Little-Known Altcoins As Markets Trade Sideways

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As the crypto markets consolidate, one major digital assets exchange is adding three tokens to its arsenal of altcoins. In a series of tweets, Crypto.com is announcing the addition of three little-known altcoins to its expanding digital assets list. Two days ago, Crypto.com announced the listing of Voxies (VOXEL), a retro-style play-to-earn RPG game. The Ethereum-based VOXEL token is the game’s utility token and is up 0.6% over the last 24 hours. Voxies is listed in the https://t.co/vCNztATSCO App ? Buy $VOXEL at true cost with USD, EUR, GBP, and…

BoJ official says digital yen won’t be used to achieve negative interest rate

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The Bank of Japan (BoJ) has said that its Central Bank Digital Currency (CBDC), the digital yen, will not be used to help attain negative interest rates.  The BoJ’s Executive Director, Shinichi Uchida made the announcement in his most recent public speech. “While the idea of using such a functionality as a means to achieve a negative interest rate is sometimes discussed in academia, the Bank will not introduce CBDC on this ground.” Japan initially adopted negative interest rates in 2016 in an attempt to combat decades of deflation by…

Financial Services Company DTCC Working With Digital Dollar Project on CBDC Prototype

While a CBDC can serve multiple purposes, Project Lithium is particularly focused on the needs of the financial services industry, such as how a CBDC could benefit the clearing and settlement of securities. For example, the project aims to demonstrate direct, bilateral settlement of cash tokens in real-time delivery-versus-payment (DVP) settlement. Source CBDCCompanyDigitalDollarDTCCFinancialProjectPrototypeServicesWorking CryptoX Portal

The Diversity of NFTs: Beyond Digital Art

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NFTs are perhaps the most misunderstood blockchain-related product. Since they entered mainstream consciousness in 2021, they have been invariably associated with digital art. But NFTs have utility beyond the high-end art world. Digital collectibles are on the rise, with athletes especially interested in using NFTs to crystallize iconic moments in sports history. In the gaming world, many developers are working on incorporating NFTs in video games as playable items. Lastly, the greatest application of NFTs is yet to come in the metaverse. In this article, we will explore the world…

Iran Will Not Allow Crypto Payments, Prepares to Pilot Digital Rial – Finance Bitcoin News

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Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near future. Accepting Cryptocurrency for Payments Is a Red Line, Iranian Minister Says Cryptocurrencies like bitcoin will not be treated as legal tender in the Islamic Republic of Iran. Discussing regulatory matters related to the storage…