Tag: Digital

Islamic Scholar Says Digital Currency is Not a ‘Fictitious Currency’ – Emerging Markets Bitcoin News

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An Islamic scholar, Irshad Ahmad Ijaz, has asserted that digital currency is not fake currency and that it should be legitimized once certain conditions are met. Ijaz’s viewpoint is echoed by other scholars that attended a seminar examining the status of digital currencies from the perspective of Islamic law. Use of Crypto in the Digital Age An Islamic scholar or Mufti, Irshad Ahmad Ijaz, recently argued digital currencies are not so-called fictitious currency, a report has said. He, however, suggested that such currency can only be justified once certain conditions…

US Treasury Dept lists digital currencies as part of effort to sanction Russia’s government

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The Treasury Department and reportedly the White House are warning U.S.-based companies and individuals not to facilitate crypto transactions sent to certain Russian nationals and banks. According to regulations from the Treasury Department’s Office of Foreign Assets Control scheduled to go into effect on March 1, U.S. residents may not use digital currencies to benefit Russia’s government — including the country’s central bank — as an attempt to circumvent U.S. sanctions in response to the invasion of Ukraine. The guidelines equated crypto transactions to “deceptive or structured transactions or dealings”…

What the launch of the FBI crypto task force means for the digital asset space

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On Feb. 17, United States Deputy Attorney General Lisa Monaco announced at the Munich Cyber Security Conference the formation of the new task force “dedicated to cryptocurrency” within the Federal Bureau of Investigation (FBI). Coming four months after the launch of the Justice Department’s National Cryptocurrency Enforcement Team (NCET), this marks another major step in the U.S. government’s crusade against criminal abuse of cryptocurrencies.  What the task force will look like The name of the new task force that Monaco revealed is the Virtual Asset Exploitation Unit (VAXU). It will…

New Crypto Security Solution Protects Bitcoin, Other Digital Assets From Theft

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When people evaluate the unpredictability of the cryptocurrency market, they can see why crypto security is so important. Online crypto wallets and exchanges have been hacked in large numbers in the last 24 months. “The value of cryptocurrency taken from victims climbed by 82% to $7.8 billion in 2021,” Chainalysis’ most recent Bitcoin Crime Report shows. Bitcoin, Ethereum, and other cryptocurrencies are increasing in value, and these findings demonstrate that cryptocurrencies operate in a chaotic environment that the traditional financial system ignores or refuses to recognize. Crypto Shield: For Crypto…

Private Banks Propose to Help Design Digital Currency in Mexico – Bitcoin News

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Private banks in Mexico want to join efforts with the central bank of the country in the creation of a new digital currency. The president of the Mexican Bank Association (ABM) met with the governor of the Bank of Mexico to offer the help of the group of private banks for the creation of a national digital currency in the future. Private Banks Want to Be Involved in Potential CBDC Members of the Mexican Bank Association have stated their intention of helping the central bank of the country…

LABEL Foundation Debuts On South Korean Digital Asset Exchange Coinone

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LABEL Foundation (LBL) has been listed on South Korean digital asset exchange Coinone. The listing is a huge milestone for the project given that South Korea possesses some of the strictest crypto listing regulations worldwide. The process involves in-depth reporting and high-level scrutiny from local financial watchdogs, all of which LABEL Foundation has successfully passed to be listed on Coinone. Crypto exchanges like Coinone are among the few left after the market shutdown that saw most crypto exchanges in the region shutter their doors due to the inability to comply…

Is there a future for digital fashion in the Metaverse?

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ourtesy of Kat Taylor Cattytay, digital fashion appeared in 2017. However, we began to talk loudly about it only in 2020. It all began five years ago when Kat first made an Instagram post with the caption “Virtual Clothing!!!” Then, there was a collaboration with Adidas, Off-White, Vetements and Balenciaga. These brands were interested in introducing fashion digitalization even before it blew up in the mass media discourse. Note that the COVID-19 pandemic had yet to happen and people were not stuck at home. Thus, there was no need for…

LABEL Foundation Debuts on Top Digital Asset Exchange in South Korea – Press release Bitcoin News

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press release PRESS RELEASE. LABEL Foundation recently gained authorization from one of South Korea’s main exchanges and a listing position with KRW (South Korean currency), the advancement has immediately followed after Clesson (the parent company) garnered equity capital from two significant investment firms with a strong presence in the local market. The aforementioned exchange was revealed as Coinone. Moreover, LABEL Foundation has repeatedly demonstrated high-level traction and continued progress with the release of its OPENTRACK content platform’s second iteration and the formation of partnerships with industry heavyweights. LABEL’s schedule to…

Central Bank of Argentina Prepares New Regulations for Digital Wallets – Regulation Bitcoin News

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The Central Bank of Argentina is reportedly working on a new group of regulations seeking to control the totality of the digital wallets in the country. This new legal framework is directed at stopping fraud said to be facilitated by these tools. According to leaks on local media, the publication of the law is imminent. Central Bank of Argentina Targets Digital Wallets The Central Bank of Argentina has its sights on the use of digital wallets. The directory of the bank is reportedly producing a new set of…

BNY Mellon plans to launch digital asset custody platform later this year

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BNY Mellon, a major investment bank, is developing a digital asset custody platform that would allow institutional customers to gain crypto exposure. According to a report from City A.M., customers will be able to store the world’s most popular cryptocurrencies, Bitcoin (BTC) and Ether (ETH), in BNY Mellon crypto wallets which are powered by Fireblocks technology. However, once regulatory approval has been granted, the service will gradually increase and integrate a variety of tokenized traditional and digital assets. The new service, according to the investment bank, is expected to be…