South Korea is set to launch a groundbreaking project involving digital currency as part of its efforts to modernize its financial infrastructure. Starting in the fourth quarter of 2024, the country will initiate a pilot program with the participation of 100,000 citizens, marking a significant step towards the nationwide implementation of digital currencies.The pilot program, […]
Newly elected Argentine President Javier Milei has reaffirmed his commitment to closing down the country’s central bank, dismissing rumors that he may backtrack on this promise. In a statement posted on Twitter, the Office of President Milei clarified that the closure of the Central Bank of the Republic of Argentina (BCRA) is non-negotiable. Milei has […]
The European Central Bank (ECB) is set to provide more details about its plans for a digital euro. However, ECB board member Fabio Panetta has cautioned against having high expectations initially. He emphasized that the digital euro will not be able to meet all expectations from day one. The ECB plans to have a two-year […]
Interactive Brokers Hong Kong has obtained a license to trade virtual assets for retail clients in Hong Kong. The announcement was made by David Friedland, the Managing Director for Asia Pacific at Interactive Brokers, on LinkedIn. The firm will initially focus on trading Bitcoin and Ethereum. More details about the licensing will be provided in […]
German energy company Siemens Energy has announced a record profit of 8.5 billion euros after taxes, nearly double the previous year’s figure. This impressive result is attributed to the absence of setbacks experienced in the previous fiscal year, such as the impact of the Ukraine conflict and a write-down on the former subsidiary Siemens Energy. […]
Australia’s tax regulator, the Australian Taxation Office (ATO), has issued new guidance on the taxation of decentralized finance (DeFi) transactions. However, the guidance has left DeFi users confused and uncertain about their tax obligations. The ATO has failed to provide clear answers to questions regarding specific transactions, such as staking Ether on Lido or transferring […]
Amid the ongoing campaigns for the 2024 elections in the United States, lawmakers are still working on legislation to establish regulatory clarity for the digital asset space, particularly stablecoins. At the North American Blockchain Summit, Consensys senior counsel Bill Hughes expressed his excitement about the policy discussions surrounding cryptocurrencies. He emphasized the importance of resolving […]
The Monetary Authority of Singapore (MAS) has introduced new regulations to protect retail investors in the crypto industry. These measures aim to discourage speculative activities and include rejecting credit card payments and eliminating incentives for crypto trading. MAS also prohibits financing, margin, or leverage transactions and requires service providers to assess customers’ risk awareness levels. […]
In a groundbreaking move, the Bank of Korea (BOK) and financial authorities are planning to launch a pilot program for a Central Bank digital currency (CBDC) in South Korea. The program will invite 100,000 Koreans to engage with deposit tokens based on the CBDC. Participants will be limited to using the CBDC for payments only, […]
The Monetary Authority of Singapore (MAS) has introduced new regulations targeting Digital Payment Token (DPT) service providers in an effort to enhance investor protection in the cryptocurrency and digital payment token space. These regulations apply to various service providers, including crypto exchanges, stablecoin players, and traditional financial institutions. The measures aim to restrict the offering […]
