About Author:
1 Confirmation with Jeff and Dave
A graduate of English, I stumbled on cryptocurrency while trying to proofread an article for a friend back in 2011, and since then, I have been hooked! I play word games when I am less busy (I'm a pro by the way) and I am a tennis aficionado.
As part of China's efforts to expand the scope of its upcoming central bank digital currency (CBDC) project, the city of Shenzhen has issued the country's first digital yuan insurance policy. Insurance Policy with Digital Yuan In a report by Global Times on Tuesday (July 21, 2021), the Shenzhen branch...
Payments fintech company Circle revealed a breakdown of the assets backing the dollar-pegged stablecoin USDC, as part of efforts to ensure transparency and accountability. Assets Backing USDC Stablecoin In an attestation report by major accounting firm Grant Thornton, the company revealed the reserves backing USDC. A total of 22,176,182,251 USDC...
Global payment giant Mastercard has announced significant upgrades to its crypto acceptance protocols, removing long-standing bottlenecks for cryptocurrency to fiat conversion. The company is the latest in the legacy payment arena to increase its focus on virtual currencies as demand for digital currency settlement options continues to increase. Mastercard Announces...
South Korea’s central bank, the Bank of Korea (BOK), has selected Ground X, the blockchain subsidiary of internet company giant Kakao, to work with the BOK on its central bank digital currency (CBDC) project. Ground X to Build South Korea’s Experimental CBDC In a report by local news media Korea...
Janet Yellen, the Secretary of the US Treasury has said that it was imperative for regulators to establish a regulatory policy for stablecoins. Stablecoin Regulation a Priority for US Authorities Yellen's statement was revealed in a readout of the meeting held on Monday (July 19, 2021). Attendees at the meeting...
Three U.S. Senators are clamoring for a ban on the use of China's upcoming central bank digital currency (CBDC) for American athletes at the forthcoming Beijing Winter Olympics in 2022. E-CNY Not for U.S. Athletes The senators expressed their concern about the digital yuan in a letter to the Board...
Bitcoin (BTC) has become increasingly easier to mine for the fourth straight difficulty epoch as the network continues to feel the effect of the sweeping crypto mining ban in China. Meanwhile, the hash rate is expected to migrate to the Western hemisphere with mining establishments keen to upscale their operations...
A fundraising campaign towards a new documentary about the second-largest cryptocurrency by market capitalization, Ethereum, saw over 1,000 ETH in donations. Ethereum Documentary Sees Massive Support from Community A group of filmmakers is looking to create a feature-length documentary centered around the growth, developments, and adoption of Ethereum. The upcoming...
The People’s Bank of China (PBOC), China’s central bank, has published a white paper on its upcoming central bank digital currency (CBDC), otherwise known as the digital yuan or e-CNY. Notably, the document revealed that the project utilizes smart contract features for programmability. PBOC White Paper Faults Crypto and Stablecoins ...
The Brazil Securities and Exchange Commission (CVM) has approved the first Ethereum exchange-traded fund (ETF) in Latin America, by the Brazilian cryptocurrency asset manager QR Asset Management. Brazil Gets Ethereum ETF QR Capital announced the news in a tweet thread on Tuesday (July 13, 2021). According to the company, the...
The chairman of South Korea's Financial Services Commission (FSC), Eun Sung-soo has said that cryptocurrency exchanges operating abroad that offer the Korean won trading pair must register with the anti-money laundering (AML) regulator. South Korean AML Regulations Extend to Foreign Exchanges According to the Korean Herald on Tuesday (July 13,...
Wellbots, a major smart products e-retailer in the United States, has become the latest company to add the cryptocurrency payment option on their platforms, as the online retailer is now accepting bitcoin, ether, and other cryptocurrency assets. Wellbots Enables Purchase With Crypto The e-retailer made the announcement in a press...
Vietnam has become the latest country to explore central bank digital currency (CBDC), although the government has said that a sovereign digital currency would not replace the country's fiat. Vietnam's Proposed Digital Currency not a Cash Replacement According to Nikkei Asia on Monday (July 12, 2021), the decision by the...
The Bank of Thailand (BOT) has issued a warning against using digital assets as a payment method, stating it could work with the country's Securities and Exchange Commission (SEC) if crypto payments become widespread. BOT Against the Widespread Adoption of Crypto for Payments The BOT made the warning in a...
Following the legalization of bitcoin as legal tender in El Salvador, it appears that most of the country's citizens are not enthusiastic about the government's move to adopt bitcoin. El Salvadorans Skeptical About Bitcoin According to Reuters on Thursday (July 8, 2021), the thoughts of El Salvadorans about the government's...
