Tag: Digital

Bank of America Says Solana Could Take Market Share From Ethereum, Become the ‘Visa of the Digital Asset Ecosystem’ – Altcoins Bitcoin News

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Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.” Bank of America on Crypto, Ethereum, and Solana Bank of America (BOFA) analyst Alkesh Shah published a research note on cryptocurrency this week arguing that Solana could take market share away from Ethereum. The Bank of America analyst described that Solana “produces a blockchain optimized for consumer use cases by prioritizing…

British Lawmakers Say a CBDC Is Likely to Hurt Financial Stability — Digital Pound Benefits Overstated – Fintech Bitcoin News

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According to British lawmakers, a central bank digital currency (CBDC) is likely to raise the cost of borrowing while hurting financial stability. They insist the touted potential advantages of a digital pound are being overstated. Erosion of Privacy British lawmakers have said the use of a central bank digital currency when making regular payments could potentially hurt financial stability and raise the cost of borrowing, a report has said. In addition, they insist the increasing use of the CBDC could also enable the central bank to monitor spending and therefore…

US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals – Regulation Bitcoin News

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A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,” he stressed. Bill Introduced to Prohibit the Fed From Issuing CBDC Directly to Consumers U.S. Congressman Tom Emmer (MN-06) announced Wednesday that he has “introduced a bill prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals.” He explained…

Palau President Talks Stablecoin Plans Following Island Nation’s ‘Digital Residency’ Rollout

CryptoX – Cryptocurrency Analysis and News Portal “One of the challenges that we have in Palau is, it’s hard to get pennies, it’s hard to get quarters,” Whipps said. “Cash shortages are a real thing here, so what digital wallets would really provide is freedom, freedom from having to go to the bank.” Source The post Palau President Talks Stablecoin Plans Following Island Nation’s ‘Digital Residency’ Rollout appeared first on CryptoX. CryptoX Portal

FinCEN, FDIC to Hold ‘Tech Sprint’ for Digital Identity Tools

CryptoX – Cryptocurrency Analysis and News Portal In the upcoming tech sprint, which doesn’t yet have a specific start date, participants will be asked to come up with a “scalable, cost-efficient, risk-based solution to measure the effectiveness of digital identity proofing to ensure that individuals who remotely (i.e. not in person) present themselves for financial activities are who they claim to be.” Original Source The post FinCEN, FDIC to Hold ‘Tech Sprint’ for Digital Identity Tools appeared first on CryptoX. CryptoX Portal

FinCEN, FDIC to Hold ‘Tech Sprint’ for Digital Identity Tools

In the upcoming tech sprint, which doesn’t yet have a specific start date, participants will be asked to come up with a “scalable, cost-efficient, risk-based solution to measure the effectiveness of digital identity proofing to ensure that individuals who remotely (i.e. not in person) present themselves for financial activities are who they claim to be.” Source

Owner of Russian bank Tinkoff acquires Swiss digital asset firm

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TCS Group, the owner of the major private Russian bank Tinkoff, is gaining exposure to digital assets. The firm has invested in Swiss digital asset service provider Aximetria, which is set to become the company’s first major crypto-related outfit, local news agency The Bell reported Wednesday. Citing data from Aximetria, the report suggests that TCS purchased 4,449 Aximetria shares worth 100 Swiss francs ($108) per share. Given that Aximetria’s total share capital was about 535,000 francs ($578,000), the publication reported TCS’ stake to be around 83.2%. A spokesperson for Tinkoff…

Digital Asset Platform SEBA Bank Raises $119M for Global Expansion

“We plan to expand into a number of new priority markets globally with this funding including the Middle East. This funding will also be used to grow our headcount across these new priority markets,” SEBA Bank CEO Guido Buehler told CoinDesk in an email. “In addition, funding will be used to drive institutional business growth through further investment in our product offering and technology.” Source

Bitcoin matured to ‘an integral part of digital asset revolution’

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Crypto is no longer an obscure asset class within the financial ecosystem, but a growing correlation with the stock market undercuts the “investment hedge” role of Bitcoin (BTC) and other cryptocurrencies, according to new International Money Fund (IMF) research. A blog post accompanying the survey highlights new risks associated with the growing interconnectedness between virtual assets and financial markets. Penned by IMF Monetary and Capital Markets Department director Tobias Adrian as well as economist Tara Iyer and Research deputy division chief Mahvash S. Qureshi, the article claims that the increasing correlation…

Digital Yuan Wallet Ranks Among Most Downloaded Apps in China – Bitcoin News

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The new wallet of China’s state-issued digital currency has quickly become one of the most downloaded applications in the country, within days of its launch. Its use and integration with other apps have contributed to an increase of digital yuan payments, media reports unveil. Wallet Launch Boosts Digital Yuan Ahead of Lunar New Year and Winter Olympics In the week after it was offered to the public, the digital yuan (e-CNY) wallet has placed among China’s most downloaded apps. On Wednesday, a day after its premiere, its downloads exceeded those…