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Kazakhstan’s Digital Tenge Pilot Project Declared a Success, Sets Stage for Future Enhancements

The digital tenge, Kazakhstan’s central bank digital currency (CBDC), has successfully completed a month-long pilot project. The pilot run involved various initiatives, including providing schoolchildren with free lunches in Almaty using the local Onay! card, originally designed for the transit system. The Kazpost postal system operator facilitated these transactions.During the pilot, plastic cards were issued […]

Central Bank Governor Urges Development of CBDCs to Counter Stablecoin Threat

Bank of Korea Governor Chang-yong Rhee has expressed concerns about the rise of stablecoins and their potential impact on central bank money and monetary policies. Speaking at a conference on digital money in Seoul, Rhee emphasized the need for central banks to issue their own digital currencies to counter this threat. He highlighted two main […]

Binance Survey Reveals Majority of Users Believe Crypto Can Reduce Income Inequality

Binance, one of the leading cryptocurrency exchanges, recently conducted a survey to understand how its users are utilizing crypto in their daily lives. The survey revealed that a majority of users believe that crypto can help reduce income inequality. Over three-quarters of the respondents stated that they use crypto to earn additional income alongside their […]

Binance Ceases Support for BUSD Stablecoin, Urges Users to Switch to FDUSD

Cryptocurrency exchange Binance has announced that it will be ending support for its BUSD stablecoin on December 15, 2023. This decision comes as a result of regulatory crackdowns faced by BUSD, which is issued by Paxos. Binance will gradually phase out its relationship with the coin.In a notice issued by Binance, it was stated that […]

Ripple Releases White Paper on Central Bank Digital Currencies

Ripple, a blockchain company, has released a white paper on central bank digital currencies (CBDCs), reaffirming its support for them. The 23-page document explains the basics of CBDCs, their benefits, and the challenges to their widespread adoption. Ripple believes that CBDCs can enhance financial inclusion, streamline cross-border payments, and strengthen monetary policy control. However, the […]

IMF Managing Director Urges Comprehensive Crypto Regulations for Financial Stability

Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has highlighted the urgent need for comprehensive regulations in the cryptocurrency industry. Speaking at a panel discussion with the South Korean government and central bank, Georgieva emphasized the potential risks associated with the growing popularity of cryptocurrencies and stressed the importance of establishing a […]

Philippines SEC Chair Announces Plans to Block and Ban Binance within Three Months

The Philippines Securities and Exchange Commission (PSEC) is taking steps to block and ban Binance, a cryptocurrency exchange, within three months. The commission issued an advisory warning users about Binance’s status as an unregistered exchange and stated that it is not authorized to sell or offer securities in the country. Binance has not registered as […]

Philippines SEC Chair Announces Plans to Block and Ban Binance within Three Months

IMF Managing Director Urges Comprehensive Crypto Regulations for Financial Stability

Philippine SEC Head Clarifies Three-Month Ban on Binance and Other Unregistered Exchanges

The head of the Philippine Securities and Exchange Commission, Kelvin Lee, has clarified that the ban on cryptocurrency exchange Binance will come into effect three months after the advisory was issued. The advisory was issued on November 28, stating that Binance was operating without a license. Lee addressed the confusion surrounding the ban and explained […]