South Korea is joining a growing number of countries researching central bank digital currencies (CBDCs). The Bank of Korea (BOK), Financial Services Commission (FSC), and Financial Supervisory Service (FSS) announced a pilot project to explore the technical infrastructure for a digital currency. The project will assess the viability of a future monetary system based on […]
Arthur Hayes, former CEO of crypto exchange BitMEX, believes that a new Bitcoin and crypto bull market could be on the horizon due to ballooning yields in the U.S. treasury. This phenomenon, known as a “bear steepener”, occurs when long-term interest rates rise more quickly than short-term ones. Banks are unable to account for this […]
Ripple has achieved a major legal victory in Singapore, with the Monetary Authority of Singapore (MAS) granting the company a license to operate as a digital payment token services provider. This development has opened the door for Ripple to expand its operations across the Asia Pacific region.The news has been well-received by the cryptocurrency community, […]
Binance has announced the discontinuation of borrowing and lending services for its native stablecoin, Binance USD (BUSD). The move is part of a phased termination of BUSD-related services, culminating in a complete cessation expected by February 2024. All outstanding BUSD loan and collateral positions will be closed by the end of October 2023.Users who have […]
Ripple’s XRP token saw a 5% surge in value, reaching $0.53018, following the company’s significant victories during the reporting period. Ripple’s subsidiary, Ripple Markets APAC Pte Ltd, secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS) to provide digital payment token services in the country. Additionally, Judge Analisa Torres rejected […]
Banque de France has embraced the global perspective on the central bank digital currency (CBDC) discussion, touting it as a foundation of the new international monetary system. Denis Beau, First Deputy Governor at Banque de France, believes that CBDCs could improve cross-border payments by enabling the build-up of a new international monetary system. He sees […]
Binance, the crypto exchange giant, has teamed up with the Royal Thai Police and other international law enforcement agencies to take down a massive crypto scam that defrauded thousands of victims. The operation, codenamed “Trust No One”, resulted in the arrest of five key syndicate members and the seizure of $277 million worth of assets. […]
The United States District Court for the Southern District of New York is continuing with the sentencing of the key individuals behind the AirBit Club cryptocurrency Ponzi scheme. On October 3, Scott Hughes, Cecilia Millan and Karina Chairez were sentenced to 18 months, five years and one year and one day in prison respectively. All […]
Cardano (ADA) has been making impressive strides in the ever-volatile cryptocurrency market, with its value reaching a month-high of $0.26 on October 2nd. The development team, led by Input Output Hong Kong (IOHK), has been hard at work, with 1,287 active projects and 572 events in its GitHub repositories in September. The team has also […]
The United Kingdom is set to launch its second crypto sandbox in the first quarter of 2024. The Financial Conduct Authority (FCA) Head of Capital Markets, Helen Boyd, revealed the news during her speech at the CCData’s Digital Asset Summit. The Digital Securities Sandbox, which will be under the purview of the HM Treasury, will […]
