Tag: Digital

Chinese digital yuan CBDC used for first time to settle cross-border oil deal

boss

The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19.  The transaction was a response to a call by the Shanghai Municipal Party Committee and Municipal Government to apply the Chinese central bank digital currency (CBDC), also referred to as the e-CNY, to international trade, the exchange said. It is “another major step forward” for the digital yuan, according to the state-controlled China Daily. The…

China’s Digital Yuan (e-CNY) Used in First International Crude Oil Trade by CBDC: Report

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Bitcoin (BTC) Miner Bit Digital (BTBT) Diversifies Into ‘Substantially Higher Margin’ AI Infrastructure Business

boss

The miner will rent out a minimum of 1,024 graphic processing units (GPU) and a maximum of 4,096 GPUs to the unidentified customer. The deal, at minimum, is expected to generate between $23 million and $27 million in annual revenue, starting January 2024. If extended to three years and with the maximum number of GPUs, the contract could generate more than $250 million of revenue, the mining firm said. Original

Thailand delays digital money handout, critics call for probe

boss

Thailand’s planned digital wallet scheme that intends to payout 10,000 baht (~$274) to citizens over 16 years old has been delayed while critics call for a probe from the country’s electoral commission. As originally reported by the Bangkok Post, Thailand’s deputy finance minister Julapun Amornvivat announced that the planned Feb. 2024 launch of a new digital wallet has been delayed to buy more time for the development of the system. The Thai government hopes to use the wallet to issue 10,000 baht to eligible citizens in a bid to stimulate the…

Chamber of Digital Commerce opposes SEC’s overreach in Binance lawsuit

boss

The Chamber of Digital Commerce has aligned with various digital assets firms, associations, legal experts and legislators in a collective effort to challenge the Binance vs. U.S. SEC lawsuit.  The blockchain trade association through the recently filed amicus brief seeks to thwart the SEC’s endeavor to oversee the cryptocurrency sector without explicit authorization from the U.S. Congress, halting the SEC’s method of regulation through enforcement actions. As stated by Cody Carbone, the Vice President of Policy at the Chamber of Digital Commerce: “The SEC continues to try to regulate the…

Argentine central bank to introduce digital peso bill ‘as soon as possible’

boss

After a series of remarks about the potential benefits of a central bank digital currency (CBDC) for the national economy, the Central Bank of the Argentine Republic said it has accelerated its work on legislation to implement the CBDC workflow in the country.  On Oct. 18, during a public discussion on the Filo News channel, Argentina Central Bank director Juan Agustín D’Attellis Noguera revealed that the central bank is working on the legislative framework for the digital peso CBDC project recently proposed by the Minister of Economy and presidential candidate Sergio…

EU data protection regulators urge anonymity for smaller transactions in digital euro

boss

On Oct. 18, the European Data Protection Board (EDPB) and the European Data Protection Supervisor (EDPS) issued a joint opinion statement on the regulation of “digital euro,” proposed by the European Commission in July 2023. The regulators made several recommendations to enhance the personal data protection standards for the European central bank digital currency (CBDC).  The EDPB and EDPS suggest clarifying the proposed verification procedure for the maximum allowed amount of digital euro held by the individual account. The current draft allows the European Central Bank (ECB) and national central…

DTCC Acquires Blockchain Firm Securrency for Undisclosed Amount to Steer Forward Its Digital Assets Agenda

Through the acquisition by DTCC, Securrency will henceforth become DTCC Digital Assets with top executives also joining the new force under different roles. DTCC, a New Jersey-based post-trade market infrastructure for the global financial services industry that helped process securities transactions worth over $2.5 quadrillion in 2022, has announced a strategic acquisition of Securrency, an institutional-grade blockchain firm, for an undisclosed amount. According to the announcement, the acquisition of Securrency by DTCC is expected to close within the coming few weeks. Following the acquisition, Nadine Chakar, the Chief Executive Officer…

Finland works on instant payments system, embraces digital euro

boss

Bank of Finland (BOF) is coordinating the creation of a Finnish instant payment solution compatible with European standards. BOF board member and member of the Governing Council of the European Central Bank (ECB) Tuomas Välimäki made the announcement on Oct. 19.  Välimäki revealed that the Bank of Finland is actively promoting the development of new forms of payment. The official called the digital euro “the most topical project” in the European payment sector: “The possible introduction of a digital euro would give consumers the option of paying with central bank…

Digital Euro Enters ‘Preparation Phase’

If successful, the project will further move to the next stage, closer to the issuance. The full rollout will be possible only after completing the European Union’s legislative process by the Governing Council. The Governing Council of the European Central Bank (ECB) is moving to the next phase of the digital euro project – the preparation phase. For the next two years starting from November 1, the guideline on the use of the digital euro rulebook will be established, and providers in charge of the platform and infrastructure will be chosen. The preparation…