After Shanghai, the Shenzhen government is also now investigating cryptocurrency exchanges. The move comes to be a fresh step to crack down on crypto-related businesses in China. As per the reports, the finance bureau of Shenzhen has identified undisclosed 39 entities suspected of involvement in crypto-related Ponzi / fraud schemes....
The United States Federal Reserve has finally decided that it’s time to look into adopting the Central Bank Digital Currency. In a letter to the congress members, US Federal Reserve Board Chairman Jerome Powell stated it is conducting small-scale research to better understand the opportunities and limitations of CBDC. The...
Canaan, one of the leading cryptocurrency mining hardware maker plans to raise $100 million from its Nasdaq IPO. It originally planned to raise $400 million. Now with the revised terms, the company plans to offer 10 million shares at $9 to $11 apiece which will place it at a market...
There’s a very interesting saying that almost every culture uses and that’s “Fighting fire with fire”. This phrase has not been more relevant than in the United States-China trade war that has been going on for a couple of months now. It seems that the trade negotiations have been boiled...
Recently People Bank of China (PBoC) said that the main purpose behind creating a new blockchain-based payment system is to mitigate the financial risk posed by existing electronic payment platforms which are highly dominated in China by just two private players – WeChat and AliPay. Read more: Why central bank...
Recently one of Lightning Labs developer Joost Jager revealed a proof of concept ‘Whatsat’, a permissionless private messaging built on Bitcoin’s lightning network. Unlike other encrypted messaging apps, Whatsat is a decentralized messaging platform where users own and maintain the infrastructure. Lightning network currently scales Bitcoin payments and used for...
Digital innovation is transforming economic activity by creating simplicity and accessibility. In recent years with technological advancements, a shift in general public payment patterns has emerged. Less use of cash is opening up a number of questions concerning traditional money (cash) continuity in the future. This has led the central...
A few days back, the price of bitcoin exhibited a bearish momentum falling to an almost staggering $7,300. Many anticipated Bitcoin was on the verge of another downfall. Fortunately, the Bitcoin market soared from $7,300 to $10,500 in the days after Chinese President Xi Jinping expressed his support for blockchain,...
The German Banks association representing more than 200 private commercial banks issued a statement on Oct 30 regarding their position on the crypto-based digital currency. As per the statement, German banks support digital euro currency and suggest the European Central Bank (ECB) work together with the banking industry to create...
The central bank of Argentina has imposed further restrictions for citizens to buy the U.S. dollar. Earlier individuals had a limit to buy $10,000 per month. The fear of Argentina Peso nearing to the edge of hyperinflation, citizens have been hedging Peso with a stable foreign currency, mostly U.S. Dollar....
