Tag: Digital

Treasury Secretary hints at regulatory framework to address potential risks in digital asset markets

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United States Treasury Secretary Janet Yellen listed stablecoins as one of the major policy concerns in the digital asset space for regulators, currently subject to “inconsistent and fragmented oversight.” Speaking to attendees at American University in Washington, D.C. on Thursday, Yellen said the Treasury Department was working with Congress to advance legislation to help ensure that “stablecoins are resilient to risks” for consumers and the U.S. financial system. According to the Treasury Secretary, while stablecoins raised “policy concerns” and issues around the coins’ reserve assets, many parts of the digital…

Meta may introduce tokens and digital currency lending services to apps: Report

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Social media giant Facebook’s parent company Meta is reportedly planning to introduce virtual currency named after CEO Mark Zuckerberg as well as lending services to apps it owns, which may include Facebook, WhatsApp, Instagram, and Messenger.  According to a Financial Times report on Wednesday, the move toward tokens and virtual currency is aimed at exploring alternative sources of revenue as interest in Facebook and Instagram drops. Meta’s potential virtual currency, which employees have reportedly dubbed ‘Zuck Bucks’, will be aimed at use in the metaverse. Facebook owner Meta targets finance…

Krew Studios Announces New Digital NFT Collaboration

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Web3 venture Krew Studios has announced the follow-up to its Masks NFT collection. While that particular release was the work of Spanish actor turned artist Jordi Mollà, the latest drop – dubbed Pastel World – is a collaborative effort between recording artist JVCKJ and animator Uriah Barrett-Thomas. “Pastel World is a hugely exciting collection, one that leverages the considerable creative talents of two supremely gifted artists,” says Krew’s co-founder Rambino, who revealed that the project was six months in the making. “What JVCKJ and Uriah have produced builds on the…

Marathon Digital moves Montana BTC mine to pursue carbon neutrality

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Bitcoin miner Marathon Digital Holdings plans on taking a big step toward carbon neutrality with plans to transition its Montana mining facility to use sustainable power sources elsewhere. The Nevada-based company intends on relocating its coal-powered Hardin, Montana facility to a location that uses sustainable, non-carbon emitting energy sources. The move is aimed at helping the company reach its goal of full carbon neutrality by the end of 2022. Marathon CEO Fred Thiel stated in an announcement from the company that he is taking efforts to “ensure our miners are…

European Commission opens new consultation on digital euro

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The European Commission is calling for financial services specialists to weigh in on the potential rollout of a digital euro. In a Tuesday notice, the European Commission’s Directorate‑General for Financial Stability, Financial Services and Capital Markets Union said it would be preparing an assessment of the central bank digital currency based on the expected impact on financial service providers, retail users and chambers of commerce. The commission will consult with industry specialists on issues concerning the digital euro including international payments, privacy, the impact on the financial sector and financial…

Bit Digital Partners With BitMine to Host 7K ASIC Miners

Crypto miners Bit Digital (Nasdaq: BTBT) and BitMine Immersion Technologies have signed a letter of intent to establish a hosting relationship that will start with 7,000 current-generation ASIC miners. The move comes several months after New York-based Bit Digital fully exited the Chinese market after the mining ban, shifting its focus to North America. Source

EU Consultation Looks at Issues With a Digital Euro

The consultation, which is open until May 3, asks questions about issues with a potential digital euro such as the ease of use, availability, fees, standards and caps on holdings needed to safeguard financial stability. The digital euro could be used by residents of the EU, tourists or trade partners, the consultation said. The document is the likely precursor to drafting laws that could come out early next year. Source

EU Consultation Looks at Digital Euro Issues

The consultation, which is open until May 3, asks questions about issues like ease of use, availability, fees, standards, and the caps on holdings needed to safeguard financial stability. The digital euro could be used by EU residents, tourists, or trade partners, the consultation said. The document is the likely precursor to draft laws that could come out early next year. CryptoX Portal

FTX US to invest in IEX stock exchange to launch digital securities

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Sam Bankman-Fried’s cryptocurrency exchange FTX continues aggressively investing in traditional finance, with the United States-based affiliate FTX US investing in Investors Exchange (IEX), a U.S. national stock exchange. FTX US has signed an agreement to make a strategic investment in the IEX’s operator IEX Group to jointly establish a market structure for buying, selling and trading digital asset securities, the firm announced to Cointelegraph on Tuesday. IEX and FTX US expect to close the deal in May 2022, subject to customary closing conditions and regulatory approval. The new collaboration aims…