Tagged: digital currencies

Turkish Authorities to Apply AML and Terrorism Financing Regulations to Cryptocurrency Transactions

Turkey has reportedly decided to add digital currency trading platforms to its list of companies that will come under the nation’s anti-money laundering (AML) and terrorism financing regulations. This, according to a presidential decree that was released on Saturday (May 1, 2021). The Official Gazette… Read More

Grayscale Is Approaching $50 Billion in Digital Assets Under Management

Grayscale, a global leader in digital currency asset management that provides single asset and diversified exposure via private and public funds, has provided updates (as of April 30, 2021) on its total assets under management (AUM), holdings per share, and market price per share for… Read More

Bank of France Official Says CBDCs Might Challenge Role of Large Banks in Settlement of Transfers

Central bank digital currencies or CBDCs might offer new types of businesses improved access to cost-effective reserve bank funding while potentially reducing the role of large banking institutions when it comes to settling big transactions, according to recent statements from a senior Bank of France… Read More

Dogecoin (DOGE) Now Available for Trading on Digital Asset Exchange OKCoin

Dogecoin is now available for trading on crypto-asset exchange OKCoin, according to a blog post update from the company on April 26, 2021. Beginning on Tuesday (April 26), OKCoin users may purchase and sell Dogecoin (DOGE) via the  platform. DOGE will be “available to everyone”… Read More

Uppsala Security and South Korean Digital Asset Exchange Bithumb Reportedly Helped Victim Recover 20M KRW from Alleged Fraud

Uppsala Security, a provider of tools for Crypto AML, Risk Management, Regulatory Compliance, and Cybersecurity revealed on Monday (April 26, 2021) that with assistance from Bithumb, one of South Korea’s leading digital asset exchanges, it has helped a victim to “recover approximately 20 million KRW”… Read More

Turkish Regulators are Working on Updating Crypto Regulations, as Another Major Exchange Faces Major Issues

Crypto investors in Turkey have been dealing with major issues lately. Another major digital currency exchange has collapsed in the country and its CEO is being detained by authorities. Turkish crypto exchange Vebitcoin has suspended its operations and claims that it decided to do so… Read More

CBDCs: China to Expand Digital Yuan Pilot Program into other Cities, but No Confirmed Date for Official Virtual Currency Launch

China is reportedly expanding its virtual yuan experiments to more local cities, however, there’s no exact timetable for its official launch, central bank Vice Governor Li Bo stated during an annual meeting on Sunday (April 18, 2021) of both Chinese and foreign policymakers, senior executives… Read More

Pakistan to Conduct Research on Developing its own Central Bank Digital Currency to Enable Greater Financial Inclusion

Pakistan is reportedly planning to carry out studies in order to potentially launch a State-backed virtual currency so that it can enhance its existing banking system, enable greater financial inclusion, and also ensure that illicit activtiies such as money laundering are not being carried out… Read More

Bank of Japan Official Says China’s Digital Yuan Will Not Pose Threat to US Dollar’s Position as Global Reserve Currency

A senior Bank of Japan (BoJ) official has stated that China’s digital renminbi will not be able to pose a threat to the US dollar’s dominant position as the global reserve currency. As reported by Bloomberg, Kazushige Kamiyama, who heads the BoJ’s payment systems division… Read More

Dogecoin (DOGE) Trading Frenzy Leads to System Overload on Robinhood, Platform Reports “Sporadic Crypto Order Failures”

The craze around virtual tokens recently led to DogeCoin or DOGE (had started off as a joke coin and still to a great extent) putting Robinhood Markets‘ trading system under great pressure due to excessive activity. Robinhood‘s management confirmed: “On Friday morning, we saw a… Read More

US Dept of the Treasury’s Office of Foreign Assets Control Sanctions Individuals, Entities for Attempting to Undermine 2020 US Presidential Election: Report

On April 15, 2021, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 16 individuals and 16 entities for “attempting to undermine and influence the 2020 US presidential election,” blockchain security firm CipherTrace noted in a blog post. CipherTrace also mentioned… Read More

HSBC Is Preventing Clients from Purchasing Shares in MicroStrategy, a Company Aggressively Adding Bitcoin to its Balance Sheet: Report

HSBC (NYSE: HSBC) is reportedly preventing its clients from purchasing shares of MicroStrategy (NASD:MSTR), a company that has been actively acquiring Bitcoin (BTC) as part of its efforts to increase the value of its corporate treasury. HSBC stated that it would not be facilitating the… Read More

Court Enters Order Authorizing IRS to Serve John Doe Summons on Fintech Circle to Obtain Info on US Taxpayers’ Crypto Transactions

A federal court in the District of Massachusetts recently entered an order that authorizes the US Internal Revenue Service (IRS) to serve a John Doe summons on Circle Internet Financial Inc., “or its predecessors, subsidiaries, divisions, and affiliates, including Poloniex LLC.” According to a release,… Read More

CBDCs: Bank of Japan Reveals it has Officially Begun Phase 1 of its Digital Currency Tests

The Bank of Japan (BoJ) revealed on Monday (April 5, 2021) that it has officially started Phase 1 of its central bank digital currency (CBDC) pilots and related experiments. The initial phase of testing will mainly focus on assessing the basic functions of CBDCs as… Read More

European Payment Services Provider Nets Group and Salamantex to Support Bitcoin, Ethereum Transactions in Austria

Nets Group, a European payment services provider, along with with Salamantex, an Austrian developer of software solutions for cryptocurrency payments, have announced that they’re bringing acceptance of virtual currencies like Bitcoin (BTC), Etherereum (ETH) and XRP to in-store points-of-sale in Austria. The partnership between Nets… Read More

US Fed’s Digital Dollar Initiative Might Affect Revenue of Wall Street Giants, but Digital Currency May Take Several Years to Launch

The US Federal Reserve’s Digital Dollar initiative may be of concern to Wall Street, according to a report from Bloomberg. The financial services sector may have to prepare for what might be its most significant disruption during the past few decades, according to the report…. Read More

Indian Officials Say they have “Major Concerns” Regarding Cryptos like Bitcoin, Authorities May Require Disclosing Crypto Earnings

Local sources in India have commented on why the government may want residents to disclose their digital currency holdings. Industry professionals in the country have pointed out that the Indian corporate affairs ministry could be looking for disclosures from firms in order to get a… Read More

Engage People CTO Len Covello Provides Key Insights on how Loyalty Points are “Often-Overlooked” Alternative Payment Option

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We recently caught up with Len Covello, CTO at Engage People, a global loyalty tech company. Covello explained how loyalty points are an often-overlooked alternative payment option. Covello talked about how the demand for having the flexibility to pay with points as easy as credit… Read More

CBDCs: Chinese Official Address Concerns Regarding User Privacy and the Digital Yuan

China’s officials have addressed concerns that the digital yuan may be violating or infringing on user privacy. They’ve looked into questions related to “controllable anonymity” as well. STCN reports that on March 20, 2021, Mu Changchun, Director of the Digital Currency Research Institute of the… Read More

Fed Chair Jerome Powell Cautions that Bitcoin Investments and Trading Pose Major Risks, Not Suitable for Payments or Store of Value

US Federal Reserve Chairperson Jerome Powell has cautioned that transacting in digital currencies such as Bitcoin can pose significant risks due to the high volatility nature of these new assets. Powell noted that virtual currencies remain highly volatile. He pointed out that Bitcoin may not… Read More

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