Tag: Report

BIS releases full report on mBridge wholesale CBDC platform after successful pilot

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The Bank for International Settlements (BIS) has released the full details of its mBridge pilot project to use central bank digital currencies (CBDCs) for foreign exchange. Commercial banks in four jurisdictions made cross-border transfers using CBDCs and distributed ledger (blockchain) technology in the project, which was heralded as a success. Twenty commercial banks in Hong Kong, China, the United Arab Emirates and Thailand used the custom-made mBridge Ledger platform and CBDCs issued by their respective central banks to conduct payment and foreign exchange payment-versus-payment transactions on behalf of their corporate…

Vietnam’s prime minister calls for crypto regulation: Report

Pham Minh Chinh, the prime minister of Vietnam, has reportedly said the country’s government should study crypto regulation in part based on residents continuing to trade digital assets despite their lack of legal recognition. According to an Oct. 24 report from online news outlet VnExpress, Chinh hinted a bill on anti-money laundering, or AML, should recognize an amendment on virtual currencies given that “in fact people still trade” crypto in Vietnam. The prime minister’s comments suggested the Vietnamese government may consider crypto regulation to address its role in financial crimes.…

Venture capital recedes from crypto in Q3, but not all is bleak: Report

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In 2022, it’s no surprise that most assets are in a bear market. People have a variety of signals they look for when determining a good time to enter the market, and Cointelegraph Research’s Venture Capital Report for Q2 revealed that VC inflows stagnated at just above $14 billion last quarter, the same as Q1. However, the third quarter did not fare as well, dropping over 66% to just $4.98 billion, as Cointelegraph Research explores in its latest Venture Capital Report for Q3. The number of deals also declined to…

Deutsche Bank Records 9th Straight Quarterly Profit in Q3 2022 Report

German financial multinational Deutsche Bank says it is “well on track to meet 2022 goals” following a sound Q3 2022 outing. Deutsche Bank recently posted its Q3 2022 financial report, which logged its ninth consecutive quarter of profit. For the third quarter, the Frankfurt-based German banking giant comfortably beat the projected estimates of analysts. Deutsche Bank reported 1.115 billion euros ($1.11 billion) in net income for the period ended September 30th, compared to analysts’ estimate of 827 million euros. Furthermore, the bank’s earnings which came amid higher interest rates and turbulent…

Foreign Exchange Transactions Take Center Stage in New BIS CBDC Report

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Central banks – based in Hong Kong, China, the United Arab Emirates and Thailand – issued over $12 million on the platform, allowing the commercial banks to conduct payment and foreign exchange payment versus payment transactions (PvP), the report said. The pilot was part of BIS’s ongoing Project mBridge, a collaboration between the international financial institution and the central banks of those four nations that is studying CBDCs and their possible role in cross-border payments and multi-CBDC transactions. Source

Former Head of Crypto Exchange Bithumb Charged With Eight Years in Prison for Alleged $70,000,000 Fraud: Report

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South Korean prosecutors are charging the former head of a major crypto exchange with fraud worth nearly $70 million. According to a report from the South Korean news outlet Yonhap News Agency, state prosecutors have asked for eight years in prison for Lee Jung-hoon, the former head of Bithumb. Says the South Korean prosecutors, “The amount of damage is very large, and the damage is especially great for ordinary coin investors.” Lee is being charged with stealing $70 million from BK Group chairman Kim Byung Gun during negotiations over a deal…

Chainalysis Report Says Vietnam Leads World in Cryptocurrency Adoption

Once again the ranking is dominated by countries categorized by the World Bank as “lower middle income,” such as Vietnam, Philippines, Ukraine, India, Pakistan and Thailand. Generally, these are economies where the national currency is weak and there is low availability of services for sending or receiving the currency across borders. In such countries, users “rely on cryptocurrency to send remittances, preserve their savings in times of fiat currency volatility and fulfill other financial needs unique to their economies,” the report reads. Source

Why are Bitcoin whales accumulating BTC? Watch The Market Report

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On this week’s The Market Report show, Cointelegraph’s resident experts discuss why Bitcoin (BTC) whales are accumulating right now and why this could be significant. Could this lead to the next bull run? To kick things off, we break down the latest news in the markets this week: Least volatile ‘Uptober’ ever — 5 things to know in Bitcoin this week October 2022 has yet to prove itself as analysts predict “wild” Bitcoin price volatility for November. Bitcoin has started the last week of “Uptober” in a firmly average mood as…