The consultation on a central bank digital currency (CBDC) was conducted by the government’s finance ministry alongside the Bank of England, and concluded in June. It received over 50,000 responses. A chief concern in the consultation was privacy and control of money. Source
“The government is proceeding I think with caution,” said Bowler, who holds the most senior rank for his civil service department. “There’s a number of issues around privacy, financial inclusion, whether there’s limits, monetary policy and interest and the consultation is out on that and you’ll hear more about it tomorrow.” Source
Investment crypto products’ outflows amounted to $21 million last week. According to a CoinShares report, outflows from investment products into digital assets were modest at $21 million last week. However, this figure masks very high Bitcoin (BTC) trading volumes last week, totaling $11.8 billion, seven times the average weekly trading volume in 2023. Source: CoinShares Geographically, capital inflows into the United States totaled $263 million, while Canada and Europe saw outflows of $297 million. Analysts suggest that such trends are explained by the migration of assets to the United States.…
The funding rounds, which gave Root a $100 million valuation, were led by Animoca Brands and included contributions from a slew of other notable investors, including Signum Capital, Ankr Network, CMS Holdings and angel investors Tekin Salimi and Meltem Demirors. Source
Former President Donald Trump joins Ron DeSantis as a critic of CBDCs. Source
Cryptocurrency exchange Gemini, founded by the Winklevoss twins, has been granted crypto registration by the French markets watchdog Autorite des marches financiers (AMF). According to a recent announcement made by the exchange, this approval allows Gemini to offer its services as a virtual asset services provider in France. The company plans to roll out its products to both retail and institutional clients in the coming weeks. Gemini Seizes Growth Opportunities In Europe As announced, Gemini customers in France will gain access to a wide range of cryptocurrencies for trading, as…
Because it’s a more familiar, regulated way to allocate capital into the crypto market. Check out Coinbase and MicroStrategy stocks in 2023 – they outperformed Bitcoin, and that’s no coincidence. These ETFs will open the floodgates for Registered Investment Advisors (RIAs), pension funds, and hedge funds to get in on the action. Plus, investment banks will start concocting new products based on these ETFs and the CBOE is awaiting approval to begin listing options on these new ETFs. Original
On the demand side, the SEC’s potential approval of a spot bitcoin ETF should open the door for a significant number of new investors seeking exposure to the price of bitcoin directly in their traditional investment accounts. They can now forego the complexity of dealing with crypto exchanges, and access a familiar investment vehicle — an ETF. This will spark both higher liquidity and greater price stability in bitcoin. Equally importantly, the SEC’s approval represents a significant milestone for bitcoin’s growing legitimacy with established financial institutions. Original
To incentivize early adoption, BitCountry is offering an exclusive opportunity for the first 1,000 users to free-mint their BitAvatar IDs without requiring an Invite Code. BitCountry, the pioneering Polkadot parachain project dedicated to developing immersive metaverse communities, is set to introduce BitAvatar, a Universal Avatar identity accompanied by an NFT-bound wallet to the Polkadot community through its InnoVoy Event. As highlighted in a press release shared with Coinspeaker, the InnoVoy event is poised to revolutionize the Web3 identity landscape just ahead of the much-anticipated L1 MNet Continuum launch. BitAvatar: A…
For CBDCs, the central bank controls the digital currency and oversees transactions, potentially allowing it to take actions such as freezing funds, blacklisting digital wallet addresses, and directly incentivizing individuals to spend their money (as opposed to saving it), especially if the CBDC is programmable. Source