Tag: Digital

Blockchain metaverse ecosystems gain traction as brands create digital experiences

Billion-dollar companies are taking the Metaverse by storm as consumers have shown heightened interest in virtual, interactive, three-dimensional experiences that take place online.  While the “Metaverse” is still a new concept, research firm Strategy Analytics found that the global Metaverse market is forecasted to hit nearly $42 billion by 2026. This very well may be the case, as a handful of businesses including Nike and Walmart have begun exploring consumer experiences in metaverse environments. NFT utility for brands launching in the Metaverse To understand how and why brands are leveraging…

Crypto and NFTs meet regulation as Turkey takes on the digital future

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In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. Turkey — the cradle of civilization — is quietly digitizing despite its high-inflation economy, and the lira’s volatility might be correlated with the prices of Bitcoin (BTC) and Ether (ETH). During the fourth quarter of 2021, the TRY/USD exchange rate crashed from 9 to 18.5 liras per dollar in the six weeks…

Russian Banks Begin Testing Digital Ruble Payments – Finance Bitcoin News

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Banks in Russia are preparing to dive into the pilot phase of the digital ruble project and some are already testing transactions with the currency. Trials have started with customer-to-customer (C2C) payments and Bank of Russia plans to expand the types of operations in the future. Digital Ruble Pilot Launches With 12 Participating Banks The Central Bank of Russia (CBR) completed the prototype of the digital ruble platform in December and is now beginning to experiment with transactions. A dozen banks have been invited to join the first stage of…

Know Stablecoin Regulations to Enjoy Safe Digital Trading

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Stablecoins have become the new sensations nowadays, and people have started to adopt Stablecoins due to the fluctuations that cryptos have created. However, Cryptos has been in the news regularly due to its regulations in different countries. A stablecoin would act as a barrier and control the cryptocurrency fluctuations. Wow! Wow! Wow! This is what is happening around the world with the regulations being imposed in various regions. However, Stablecoins are making crypto owners crazy. Now let us look at what a stablecoin is, the regulations imposed with it, and…

Does a Fed digital dollar leave any room for crypto stablecoins?

During Jerome Powell’s Jan. 11 United States Senate confirmation hearings, Sen. Patrick Toomey posed a question to the incumbent-and-future Federal Reserve chief: “If Congress were to authorize and the Fed were to pursue a central bank digital dollar, is there anything about that that ought to preclude a well-regulated privately-issued stablecoin from co-existing with a central bank digital dollar?” “No. Not at all,” the central banker answered — a response that surely brought some relief to the crypto community. At least the Fed wasn’t seeking to ban stablecoins. That bullet had…

Important Disclosure About CoinDesk and Digital Currency Group

In 2022, CoinDesk is rolling out a program whereby certain high-performing employees throughout the ranks, most of whom have been here more than a year, receive stock appreciation rights (SARs) in DCG as part of their compensation. Initially, CoinDesk content employees were not going to be eligible for this program, meaning only certain members of other departments (sales, marketing, etc.) would be allowed to participate. Source

Guangzhou will advance digital yuan, blockchain pilots in 2022

Guangdong Province’s 2022 Government Report says its capital city Guangzhou will become a digital yuan testbed and a blockchain innovation application pilot center in 2022.  Fast facts Guangzhou applied to become a new digital yuan pilot city in September 2021.  Currently, the only digital yuan pilot city in GBA is Shenzhen. China’s e-CNY, or digital yuan, is touted as the most advanced central bank digital currency (CBDC) issued by a major world economy. Last November, a project called “digital yuan payment and settlement…

Fed issues discussion paper on benefits and risks of a digital dollar

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The U.S. Federal Reserve is opening comments to the public after releasing a discussion paper on the pros and cons of a potential central bank digital currency. In a publication released Thursday titled “​​Money and Payments: The U.S. Dollar in the Age of Digital Transformation”, the Fed said it would likely not be authorized to issue digital wallets or accounts capable of holding a U.S. central bank digital currency, or CBDC, but rather leave such matters to the private sector. In addition, the government body said it would be considering…

Union Bank of the Philippines selects Metaco and IBM to facilitate digital asset custody operati​​ons

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On Thursday, Metaco, an enterprise cryptocurrency platform for securing, trading, issuing, and managing digital assets, announced the addition of UnionBank as its latest client. Founded in 1982, UnionBank is one of the largest banks in the Philippines, with a collective $15 billion in assets under management. UnionBank will be also be deploying its digital asset management services on the IBM Cloud, which are fully integrated with Metaco’s solutions. Through the integration, UnionBank will be able to improve the insurability of assets with FIPS 140-2 Level 4 certified controls for managing…

China’s Central Bank Digital Currency Now Has 261 Million Users — $14 Billion in Digital Yuan Transactions Made – Regulation Bitcoin News

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China’s central bank digital currency now has 261 million unique users, according to an official of the central bank, the People’s Bank of China (PBOC). Furthermore, transactions worth 87.5 billion yuan ($13.78 billion) have been made using the digital yuan and more than 8 million merchants now accept e-CNY. China’s Central Bank Digital Currency Growing in Adoption Zou Lan, head of financial markets at the People’s Bank of China (PBOC), provided an update on the country’s central bank digital currency (CBDC), the digital yuan, at a press conference Tuesday. According…