The Emirate of Abu Dhabi has established a comprehensive regulatory framework for digital ledger technology, positioning itself as the second crypto hub in the UAE alongside Dubai. The Registration Authority of Abu Dhabi Global Market (ADGM) has released the Distributed Ledger Technology (DLT) Foundations Regulations 2023, which aim to provide regulatory clarity for the crypto […]
The Dubai Virtual Assets Regulatory Authority (VARA) has granted an “Initial Approval” license to WadzPay, a crypto firm, as part of its journey to obtain a Virtual Asset Service Provider (VASP) license. This license allows WadzPay to begin preparations for offering virtual asset services and activities under the VASP License for Transfer and Settlement and […]
PayPal, the popular payment platform, has been served a subpoena by the United States Securities and Exchange Commission (SEC) regarding its stablecoin called PayPal USD (PYUSD). The SEC’s Enforcement division sent the subpoena to PayPal, according to a report by Reuters. This development comes three months after PayPal launched its PYUSD stablecoin, which is backed […]
The Abu Dhabi Global Market (ADGM) Registration Authority has introduced comprehensive regulations governing Web3 organizations. These regulations, known as the Distributed Ledger Technology (DLT) Foundations Regulations, are the first of their kind and are designed specifically for the operation of blockchain foundations, Web3 entities, decentralized autonomous organizations (DAOs), and traditional foundations expanding into DLT. The […]
deBridge, a web3 interoperability layer, has launched an Infrastructure as a Service (IaaS) solution to address the challenges of interoperability between the Ethereum and Solana ecosystems. This turnkey solution offers a subscription-based service that enables cross-chain movements on Ethereum and Solana Virtual Machines. The IaaS facilitates the transfer of authenticated messages via deBridge and promotes […]
Visa, the payment processor, has successfully completed the Hong Kong Monetary Authority’s central bank digital currency (CBDC) Pilot Programme in collaboration with HSBC and Hang Seng Bank. The program, known as e-HKD, involves the tokenization of deposits, where money deposited with a bank is converted into digital tokens on the bank’s blockchain ledger. Visa’s pilot […]
The trial of former FTX CEO Sam “SBF” Bankman-Fried is currently underway in New York, and Cointelegraph reporters are providing live coverage of the proceedings. The trial is nearing its conclusion, with closing arguments set for November 1. Bankman-Fried took the stand and testified that he believed it was acceptable to utilize $8 billion in […]
The Hong Kong Monetary Authority (HKMA) has completed the first phase of its e-HKD pilot program, which aims to assess the viability of a central bank digital currency (CBDC). The program focuses on six areas, including payments, tokenization, and settlement of digital assets. The findings of the trial highlighted the potential benefits of programmability, tokenization, […]
The Hong Kong Monetary Authority (HKMA) has concluded the first pilot project of the e-HKD, a retail central bank digital currency (CBDC), but remains undecided on whether to introduce it. While CBDCs have the potential to offer unique benefits, the HKMA emphasized the need for further research into their potential impact on the monetary system. […]
Elon Musk, the owner of X (formerly known as Twitter), recently revealed new details about the company’s planned payment services. During an all-hands staff meeting, Musk stated that the app will cover almost all areas of finance, including money, securities, and more. He emphasized that X aims to be more than just a platform for […]
