Tag: Digital

Buenos Aires to issue blockchain-based digital ID

Buenos Aires, the capital of Argentina, is making a major move toward integrating its bureaucracy with blockchain technology. Starting in October, the city’s 15 million residents can access identity documents via a digital wallet, according to an announcement on Sept. 28.  The first documents to be available on-chain include birth and marriage certificates, along with proof of income and academic verification. The announcement notes that health data and payment management will be integrated in the future, and that a roadmap for rolling out the blockchain-based solution across the country will…

11 things to do when considering adding digital assets

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As digital asset options continue to gain attention and acceptance from investors, traditional financial institutions may be considering adding digital assets to their offerings and/or portfolios. As with any other industry, “standing still” isn’t an option in the financial sector, and tapping into the potential of digital assets can help TradFi organizations tap into an enthusiastic and growing new customer base. Further, adding digital assets can diversify a traditional portfolio, offering a hedge against market downturns. However, any upside achieved from being viewed as an innovative early adopter can quickly…

Buenos Aires Releases Blockchain Digital Identity Solution Powered by Matter Labs’ ZK Proofs

“With this development, Buenos Aires becomes the first city in Latin America, and one of the first in the world, to integrate and promote this new technology and set the standard for how other countries in the region should use blockchain technology for the benefit of their people,” Diego Fernandez, secretary of innovation for the Buenos Aires City Government, said in the release. Source link

Marathon Digital Mines Invalid Bitcoin Block Amid Heightened BTC Volatility

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MARA Pool, the Bitcoin mining pool operated by the publicly listed Marathon Digital Holdings, had a transaction ordering issue on September 27 after it mined an invalid block at block height 809478. The invalid block was first picked by an X user, “0xB10C”, before Jameson Lopp, the CTO of Casa, a Bitcoin-focused company, later confirmed it. Lopp scanned his node and noted that MARA Pool had spent an output before it was created, validating a double-spent transaction.  Bitcoin transaction ordering| Source: 0xB10C on X Marathon Digital Mined An Invalid Block In Bitcoin,…

Nomura’s Laser Digital receives in-principal approval for operations in Abu Dhabi

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The Abu Dhabi Global Market (ADGM) has granted Laser Digital, the digital assets arm of Japan’s Nomura Bank, in-principal approval to provide broker-dealer services and asset/fund management services with both digital and traditional assets, according to an ADGM communication on Sept. 26.  Laser Digital can receive full Financial Services Permission to operate after fulfilling conditions specified in the current approval. Those conditions were not specified in the communication. Laser Digital CEO Jez Mohideen said of the ADGM in the communication: “Their comprehensive and clear regulatory framework is creating a global…

IRS Proposed Rule on Digital Asset Broker Reporting Could Kill Crypto in America

Although the IRS has finally released its proposed rulemaking, it did so nearly two years after the IIJA was passed. If the digital asset ecosystem is to have clarity in tax matters, it will require the IRS to provide both timely and well-informed guidance — something it has fallen short of doing to date. For instance, in July the IRS released guidance that said staking rewards should be taxed at receipt as gross income. However, this guidance does not take into account the realities and complexities of staking. Source

Bitcoin gains legal recognition as digital currency in Shanghai, China

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The Shanghai No.2 Intermediate People’s Court in China has reportedly recognized Bitcoin (BTC) as a unique and non-replicable digital asset while acknowledging its scarcity and inherent value. The Chinese court released a report on Sept. 25 discussing the development of internet technologies. The report stated that with the development of internet technology, digital currencies such as Bitcoin stand out as unique and non-replicable. The report states that among a sea of digital currencies, Bitcoin is different and unique from other digital assets. The report also sheds light on some of the unique…

China’s Digital Yuan Wallet Enables Visa and Mastercard ‘Pre-Charge’ for Tourists

Tourists have the option of re-loading their e-CNY wallets with physical cash at local banks and reverting any balance left over to their original bank card or account. China’s digital yuan app now has a “recharge first and use later” feature that allows tourists to top up their wallets using Mastercard and Visa payments. Tourists can pre-charge their e-CNY wallets before traveling and avoid the inconvenience of foreign exchange transactions.    The e-CNY app, which is part of the country’s Central Bank Digital Currency (CBDC) pilot, is available to iOS and…

Digital asset investments see outflows for sixth successive week

Investment products record outflows for the sixth week in a row. According to a CoinShares report, the market saw an outflow of $9 million last week. Sales for the week were the lowest, amounting to $820 million. This figure is significantly lower than the average of $1.3 billion. As was the case a week earlier, there is a divergence in sentiment from a regional perspective. Capital inflows reached $16 million in Europe, where investors see recent regulatory disappointment as an opportunity. At the same time, U.S. investors withdrew $14 million…

EU’s Digital Euro at Least 2 Years Away, ECB’s Christine Lagarde Says, Addressing CBDC Privacy Concerns

If “we can address all the conspiracy theories that abound about this – as if Big Brother was going to suddenly determine what you buy, when you buy it and how restricted it should be – then I think it would be characterized as a success,” Lagarde said, adding that the digital euro will need to offer privacy without full anonymity, and be user-friendly, free and universal. Source AddressingCBDCChristineConcernsDigitalECBsEuroEUsLagardePrivacyYears CryptoX Portal