“The convergence between crypto and traditional asset classes, including fiat currencies, equities, government bonds, and real estate, is experiencing an unprecedented growth,” read the report. “We estimate that the market value for tokenized assets will be between $3.5 trillion in the bear-case scenario and $10 trillion in the bull case by 2030.” Source
WeChat operator, Tencent, announced the launch of a new digital yuan smart contract enterprise credit solution platform. The new platform aims to bring a more convenient and efficient financing service for small and medium-sized enterprises. The project will use the digital yuan as the payment tool for companies that utilize the new platform. The new solution will imply the Tencent Blockchain platform technology, a scalable blockchain infrastructure that supports various applications and scenarios. The new initiative will combine elements such as the smart contract engine, the digital yuan wallet, and…
Currently, there are nine residents of the park. All of them will get access to ten government initiatives introduced to “boost the development” of the digital yuan ecosystem. The initiatives include payment solutions, smart contracts, hard wallets, and digital yuan promotion. The first industrial park has been opened in the Luohu district of Shenzhen, China, with a focus on developing China’s Central Bank Digital Currency (CBDC) – digital yuan or e-CNY. The official launching ceremony of the park was held on October 11. As was revealed by Shu Yumin, the Communist…
A commissioner for the United States Commodity Futures Trading Commission (CFTC) has slammed Voyager Digital for its mistakes that eventually led to the loss of billions of dollars of customer funds. Statement of @CFTCjohnson regarding @cftc‘s charges against Voyager’s chief executive officer. Learn more: https://t.co/OiBvOoCuV6 — CFTC (@CFTC) October 12, 2023 In an Oct. 12 statement, Commissioner Kristin Johnson took aim at Voyager for misleading practices, ignoring warning signs, and “bare-bones due diligence,” which failed to protect customers. “Because of Voyager’s failures, the company became no better than a house…
The US Commodity Futures Trading Commission (CFTC) has taken legal action against Voyager Digital and its former CEO, Stephen Ehrlich. The CFTC filed a complaint in the US District Court for the Southern District of New York, alleging fraud and registration failures related to the operation of the Voyager digital asset platform and an unregistered commodity pool. Voyager Faces Legal Action For ‘Misleading Customers’ According to the CFTC, Ehrlich falsely marketed the Voyager platform as a safe haven for high-yield returns, deceiving customers to purchase and store digital assets. Per…
China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC), which is also referred to as the e-CNY. The industrial park is located in the Luohu district of Shenzhen adjacent to Hong Kong. It is opening with nine residents. According to reports, the district government has announced ten “initiatives to boost the development” of the digital yuan ecosystem that involve payment solutions, smart contracts, hard wallets…
The United States Commodity Futures Trading Commission (CFTC) has filed a complaint against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. In an Oct. 12 announcement, the CFTC said it had filed a lawsuit in the U.S. District Court for the Southern District of New York against Ehrlich and Voyager for alleged fraud and “registration failures” connected to the platform and its “unregistered commodity pool.” The commission said it planned to seek restitution, disgorgement, civil monetary penalties, and permanent trading and registration bans. “Ehrlich and Voyager falsely…
On Oct. 12, digital currency and electronic payments firm DeCurret Holdings published a white paper on its cryptocurrency project, the “DCJPY.“ The organization intends to launch the coin in July 2024. According to the white paper, the DCJPY network will consist of two areas: the Financial Zone and the Business Zone. The former will include banks, minting bank deposits as digital currency on the blockchain, while the latter will be reserved for transactions. The Business Zone will provide space for issuing non-fungible tokens (NFT), security tokens (ST), and governance tokens (GT).…
With crucial funding secured, Parsec Finance also launched its cutting-edge institutional-focused product that aims to help provide unparalleled data to easily discover DeFi opportunities. Parsec Finance, an analytics platform focused on providing deep transparency in the nascent DeFi and NFT markets, announced a successful closure of a strategic funding round with about $4 million. According to the announcement, the Parsec Finance strategic funding was led by Galaxy Digital with key participation from Uniswap, Robot Ventures, CMT Digital, Will Price, Rice Maximalist, and Freddie Farmer, among many others. The funds are…
The Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. The approval means Hata could launch its services in six to nine months. Hata will become the fifth regulated digital asset exchange in Malaysia and the first legal entity to receiveapproval as a digital broker, allowing it to display trade orders from other regulated exchanges. Hata also received a money broker license from the Labuan Financial Services Authority in June, allowing it…