The Monetary Authority of Singapore (MAS) has awarded the Standard Payment Institution License to the Digital Trader BHEX.SG. BHEX.SG, a platform for digital trading assets, has been granted a standard payment institutional license by the central bank of Singapore, popularly known as the Monetary Authority of Singapore (MAS). An announcement published by BHEX.SG suggests that … Read more
The recent market crash has caused the financial world to be hesitant to trade Bitcoin. However, several small British Overseas Territories, the Channel Islands, silently provide tax incentives to potential investors to move their investments into crypto. This is happening while the rest of the world is hesitant to trade Bitcoin. Jersey and Guernsey, the … Read more
The UN Conference on Trade and Development (UNCTAD) warned that cryptocurrencies are a volatile financial asset with the potential to have detrimental societal repercussions. This policy brief aims to investigate the variables that have contributed to the rapid acceptance of cryptocurrencies in developing nations. These considerations include the convenience of sending remittances as well as … Read more
A rollout of an official digital version of the ruble is scheduled to take place over the next few years, and the Bank of Russia is continuing its efforts toward the coming implementation of the central bank digital currency (CBDC). The most recent update to the Bank of Russia’s monetary policy indicates that the regulatory … Read more
The Reserve Bank of Australia (RBA) has initiated a trial that will last for one full year in order to investigate the business models and novel applications of central bank digital currencies (CBDCs). The Australian central bank emphasized that the pilot project’s primary objective was to gain a deeper understanding of the regulatory, legal, and … Read more
According to new research, despite the prolonged bear market, the cryptocurrency industry has already raised $30.3 billion in funding, which is more than what would be raised in a full year of fundraising in 2021. According to a report published on August 2 by the crypto analytics firm Messari and Dove Metrics, the data reveals … Read more
In addition to its retail central bank digital currency (CBDC) programs and proof-of-concept Retail CBDC tests with corporate entities, the Bank of Thailand (BOT) will increase the scope of CBDC development focused on retail and enter a pilot phase shortly. One potential use of the “Retail CBDC” in real life will be tested on a … Read more
Revolut, the largest unicorn in the UK, is expanding its crypto section at a time when many other cryptocurrency companies are announcing layoffs. According to Bloomberg, the company plans to hire new employees across its European, American, and British offices to fill positions in compliance, financial fraud preventative measures, crypto legal representation, and software development. … Read more
According to Google analytics, interest in cryptocurrencies is 16.6% lower this year than it was on average for 2021. worldwide. This year, the price of bitcoin has fallen by 52.7 percent, and the industry has also seen layoffs and liquidations. The Netherlands has had the greatest decline in interest, dropping by 37 percent. With interest … Read more
Millicent has broken new ground by becoming the first organization in the world to conduct a test of a digital currency with a full reserve. On Thursday, July 14, the distributed ledger fintech company Millicent made the announcement that it had successfully completed the world’s first experiment of a Full-Reserve Digital Currency (FRDC) directed at … Read more