Tag: Local

New Zealand dollar stablecoin goes live through local crypto exchange

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A New Zealand dollar-pegged stablecoin has gone live through a partnership with New Zealand crypto exchange Easy Crypto and Australian blockchain development firm Labrys. In a Nov. 22 announcement, Labrys and Easy Crypto said the NZDD will be backed 1:1 with cash in trust and regulated by the New Zealand Financial Markets Authority. It’s initially live on Ethereum but has plans to expand to Polygon, the BNB Smart Chain, Arbitrum, Optimism and Coinbase’s Base. Easy Crypto was motivated to launch the stablecoin as it claimed it was harder for New…

Binance to launch Thai exchange in joint venture with local energy giant

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Binance will publicly roll out a Thailand-based crypto exchange in early 2024 via a joint venture with local energy giant Gulf Energy Development. A Nov. 15 Stock Exchange of Thailand filing by Gulf Energy said the venture, called Gulf Binance, will initially be available on an invitation-only basis with a public rollout by early 2024, with the firm receiving Securities and Exchange Commission approval on Nov. 10. A Binance spokesperson confirmed to Cointelegraph that the platform has initially launched as an invitation-only exchange and would give more details as information…

Kenyan lawmakers ask local Blockchain Association to come up with crypto bill

Kenya might become the first country in the world where the industry’s representatives would develop the regulatory framework for crypto. According to the Blockchain Association of Kenya (BAK), The National Assembly’s Departmental Committee on Finance and National Planning has directed it to prepare the first draft of “what could become a virtual asset service provider’s bill.” On Oct. 31, the Committee on Finance and National Planning invited the BAK representatives to discuss the digital assets regulation. BAK’s legal and policy director, Allan Kakai, shared the details behind the meeting with…

Visa completes digital Hong Kong dollar pilot test with local banks

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Payment processor Visa has completed the Hong Kong Monetary Authority’s central bank digital currency (CBDC) Pilot Programme with HSBC and Hang Seng Bank. According to the November 1 announcement, the e-HKD Programme involves tokenization of deposits, where the money deposited with a bank is minted on the firm’s own blockchain ledger with the backing of its balance sheet. As part of its key findings, Visa wrote:  “The time to final settlement for an interbank transfer, as confirmed through our pilot’s testing between the banks, was near real-time. Tokenized deposits were…

PayPal scores UK crypto license after brief local Bitcoin buy halt

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Global payment giant PayPal has received approval from the Financial Conduct Authority (FCA) to offer crypto services in the United Kingdom. According to official FCA data, PayPal has been registered to offer “certain crypto asset activities” in the U.K. since Oct. 31, 2023. According to the register, PayPal has requirements or restrictions placed on the financial services activities that it can operate. “This includes, but is not limited to, ceasing on-boarding new customers and restricting existing customers to hold and sell functionality,” the information on the FCA register reads. “The…

Thailand’s Bank Acquires Local Crypto Exchange Satang

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Thailand’s Kasikorn Bank (K-Bank) expanded its presence in the digital asset space with its latest acquisition of 97 percent stakes in the parent company of local crypto exchange Satang, Coindesk reported. The deal has been inked at a valuation of 3.705 billion Thai baht ($102.8 million). Satang has been operating as a crypto exchange in the country since 2017 and offers an array of services, including custody, staking, and crypto payments. However, the spot trading volume on the exchange appears to be much less at about $430,000 in the last…

NYC mayor releases plans for responsible AI usage in local government

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The administration of New York City Mayor Eric Adams released a plan for the adoption and regulation of artificial intelligence (AI) within the local government, along with a new integration into city applications.  On Oct. 16, the administration released an update saying it is developing a framework through which city agencies can “carefully” evaluate AI tools and their risks. The framework is also designed to help build government employees’ knowledge and skills of AI technologies and improve life quality for local residents. According to the announcement the plan will include…

Local Web3 community launches ‘Crypto Aid Israel’ to help displaced citizens

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A collective of local leaders in the cryptocurrency space, including Cointelegraph, 42Studio, MarketAcross, Collider Ventures, CryptoJungle, Nilos, Blockchain B7, Efficient Frontier, Ironblocks, the Israel Blockchain Association and Bits of Gold, have joined together ​​to establish Crypto Aid Israel, a global fundraiser to help displaced Israeli citizens in need of humanitarian aid. The ongoing and unfolding conflict has taken a heavy toll on the local civilian population, with casualties currently estimated in the thousands. According to Israeli news source Haaretz, the attacks on Israeli’s local population have resulted in the deaths…

Bitcoin due new local low? Watch these BTC price levels as $28K rejects

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Bitcoin (BTC) rejected at $28,000 after the Oct. 5 Wall Street open as a return toward six-week highs failed. BTC/USD 1-hour chart. Source: TradingView Bitcoin sees swift comedown after new $28,000 retest Data from Cointelegraph Markets Pro and TradingView followed BTC price action as bulls attempted to match levels from earlier in the week. This encountered problems just above the $28,000 mark, however, with the subsequent hourly candle sending the market down up to $700, or 2.5%. Commenting on the status quo, on-chain monitoring resource Material Indicators was unsurprised. Its…

FOMC versus BTC price ‘local bottom’ — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts the new week with optimism as traders greet the first green weekly candle in over a month. BTC price strength appears to be gradually improving after a weak August and start of September, with BTC/USD climbing toward $27,000. A solid weekly close provides the backdrop to what promises to be an interesting few days, which will include a key United States macroeconomic event as a potential volatility driver. The U.S. Federal Reserve will meet to decide on interest rate policy, and any surprises could have significant repercussions…