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Global Banks Pioneer Universal Digital Payments Network for Seamless Digital Currency Transactions

Global banks Deutsche Bank and Standard Chartered are collaborating on a groundbreaking solution that could revolutionize cross-border transactions in the world of digital currencies. They are currently testing a network called the Universal Digital Payments Network (UDPN), which has the potential to transform blockchain-based transactions.UDPN is a permissioned blockchain system that aims to facilitate seamless […]

SEC Chief Gensler Highlights $5 Billion in Enforcement Actions, Criticizes Crypto Market

The United States Securities and Exchange Commission (SEC) chief, Gary Gensler, recently delivered a speech at the 2023 Securities Enforcement Forum, where he discussed the regulatory body’s enforcement actions. Gensler highlighted that these actions resulted in $5 billion in judgments and orders. However, it was his comments about the cryptocurrency market that caught the attention […]

Circle Partners with Taiwan Convenience Store Chain to Launch Points-to-Crypto Service

Circle, a stablecoin issuer, has formed a strategic partnership with BitoGroup and Taiwan FamilyMart, the second-largest convenience store chain in Taiwan. The collaboration aims to enhance the value of loyalty points and facilitate entry into the digital economy for the Taiwanese market. Through the Taiwan FamilyMart App and the BitoPro Exchange, customers can now convert […]

JPMorgan’s JPM Coin Gains Momentum with $1 Billion in Daily Transactions, Plans Retail Expansion

JPMorgan’s digital asset, JPM Coin, has seen a surge in adoption, with daily transactions reaching $1 billion. The bank’s Global Head of Payments, Takis Georgakopoulos, revealed plans to expand the use of JPM Coin to retail customers. Currently, the asset is limited to institutional clients who use it to transfer US dollars and Euros. Since […]

SEC Chair Gensler Warns of Increased Regulatory Scrutiny on Cryptocurrencies

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has expressed his strong stance on cryptocurrencies, emphasizing that most digital assets should be classified as securities. This indicates that the SEC will be increasing its scrutiny and regulation of the crypto industry. Gensler’s remarks highlight the growing concerns surrounding the lack of […]

Bitcoin Price Surges Amid Speculations of US Military Involvement

Earlier this week, the price of Bitcoin (BTC) surpassed $35,000, reaching a level not seen in 17 years. Experts believe that the rally was driven by the anticipation of the Securities and Exchange Commission (SEC) approving a Bitcoin Exchange-Traded Fund (ETF) in the near future. However, BitMEX exchange Co-Founder Arthur Hayes has a different perspective. […]

Attorney Predicts Prolonged Ripple-SEC Case, Unlikely Settlement

Prominent attorney John Deaton has shared his views on the ongoing case between Ripple and the US Securities and Exchange Commission (SEC). Deaton predicts a prolonged timeline before a final judgment is reached and believes that a settlement between the two parties is unlikely. He emphasizes that the penalty phase of the case will require […]

Mastercard Teams Up with MetaMask and Ledger to Enhance Crypto Utility

Mastercard has formed partnerships with MetaMask and Ledger, two self-custody crypto wallet providers, to enhance the utility of cryptocurrencies for users. This collaboration aims to simplify the process of spending cryptocurrency balances on a daily basis. By joining forces with these trusted partners, Mastercard is taking steps to establish a transparent and trustworthy ecosystem within […]

FTX Seeks Information on Payments to Nonprofit AI Safety Organization in Bankruptcy Case

FTX, a bankrupt cryptocurrency exchange, is seeking information on millions of dollars it had previously given to the Center for AI Safety (CAIS), a nonprofit organization. FTX claims to have given $6.5 million to CAIS before its collapse and bankruptcy. The exchange wants a court to approve subpoenas to CAIS to inquire about the payments, […]

UK Financial Conduct Authority Cracks Down on Non-Compliant Crypto Promotions

In an effort to protect consumers, the UK Financial Conduct Authority (FCA) has issued a warning regarding common issues observed in promotions for crypto assets. The FCA has implemented a new marketing regime, asserting its authority over crypto promotions in the UK. The FCA has identified specific areas of concern since the new marketing rules […]