International agencies are urging central banks to consider interoperability early in the design of central bank digital currencies (CBDCs). The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures, the BIS Innovation Hub, the International Monetary Fund and the World Bank released a report Monday that looked at three options for cross-border interoperability…
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Global cryptocurrency exchange Binance is under the spotlight as a report claims it continued serving Iranian clients despite a company ban and economic sanctions against the country. According to an investigative report from Reuters, individuals inside the country continued to trade on Binance after the company itself had shifted Iran onto a blacklist of jurisdictions…
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Though on-chain metrics point to the worst Bitcoin bear market on record, they also highlight hodlers’ growing resilience. Source link
Bitcoin (BTC) headed for $20,000 after the July 11 Wall Street open amid fresh warnings to “prepare for new lows.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $20,300 eyed as next support zone to hold Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to recover losses that had immediately followed the weekly close…
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The Financial Stability Board (FSB), a global financial regulator including all G20 countries, is preparing to propose international regulations for cryptocurrencies and stablecoins in October. The FSB on Monday issued a statement on the international regulation and supervision of crypto asset activities, announcing a major crypto regulation effort. The watchdog is planning to report to the…
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On June 7, United States Senators Cynthia Lummis and Kirsten Gillibrand launched the much anticipated Responsible Financial Innovation Act, proposing a comprehensive set of regulations that address some of the biggest questions facing the digital assets sector. By providing holistic guidance to the rapidly growing industry, the bill offers a bipartisan response to President Biden’s…
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As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin’s (BTC) throne as the top dog in crypto. In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to Raman, the…
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A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country. The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a…
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ING Group, a Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX. GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday. The Pyctor offering compliments GMEX’s MultiHub service,…
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The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system. A section of the report dedicated to stablecoins discussed the central role that it plays in the current ecosystem. Stablecoins are increasingly used to interlink various blockchain…
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