Digital Currency

Traditional banks offer digital asset custody amid compliance legislation

More and more traditional banks have started announcing support for digital assets as the price of Bitcoin (BTC) continues to make headlines for record-breaking all-time highs. Even major banks like JPMorgan Chase, which previously frowned upon Bitcoin, have taken a newfound interest in the cryptocurrency. Contrary to what Goldman Sachs stated recently, JPMorgan’s strategists have noted …

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Indian Crypto Trader Arrested for Allegedly Using USDT to Launder Money on Behalf of Chinese Online Betting Scammers

2020’s Crypto Performances: The Biggest Token Losers and This Year’s Top-Performing Cryptocurrencies Digital currency markets have climbed significantly in value all year long, despite the gloomy global economy and the aftermath of Covid-19 responses. Bitcoin prices have been hovering at values not seen since 2017, and the top crypto asset in terms … read more. …

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Chinese residents make 20K transactions in digital yuan trial event

People in China have conducted roughly 20,000 transactions through e-commerce company JD.com in a trial of the country’s digital yuan. According to local media outlet Global Times, JD.com reported that 80% of participants born in the 1980s and 1990s used the platform to conduct transactions in the digital currency starting on Friday evening, with at …

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Sweden is studying a potential transition to the e-krona CBDC

The Swedish government is progressing with its central bank digital currency, or CBDC, by launching a formal review of a potential transition to the digital currency. According to a Dec. 11 Bloomberg report, the review will explore the feasibility of moving the country’s payments infrastructure to a digital currency. The country features one of the …

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You can now spend China’s digital currency at an online store

Kevin Frayer/Getty Images China’s official digital currency is now usable in a meaningful way… more or less. Reuters reports that JD.com now accepts digital yuan for some purchases at its site, making it the first online platform to take the virtual money. You’ll need to have received the currency as part of a lottery-style experimental …

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US Representatives Add Digital Currencies to the 2021 Defense Bill

Asset Manager Vaneck Launches Physically-Backed Bitcoin Exchange-Traded Note On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exchange-traded note is physically-backed by bitcoin and listed on the trading exchange Deutsche Böerse Xetra. The newly listed … read more. Major Australian Investment Firm …

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Multi-utility tokens to enable Web 3.0 by providing more than financial value

Cryptocurrencies are commonly known for being a store of value, but as the blockchain space continues to mature, utility tokens are being created that extend their benefits beyond mere financial gains. Scott Gralnick, director of global partnerships for ShapeShift — a Swiss cryptocurrency exchange — told Cointelegraph that cryptocurrency can help launch Web 3.0 as more …

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Hodl or spend? Retailers offer Black Friday deals for those paying with cryptocurrency

Cryptocurrency adoption is slowly but surely making its way to the mainstream — a notion that has become more apparent as major retailers like PayPal announce support for digital currencies. As such, it shouldn’t come as a surprise that crypto holders may be keen to spend some of their digital currency this holiday season.  According …

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Facebook’s Libra currency to launch next year in limited format

Enlarge NurPhoto | Getty Images The long-awaited Facebook-led digital currency Libra is preparing to launch as early as January, according to three people involved in the initiative, but in an even more limited format than its already downgraded vision. The 27-strong Libra Association said in April that it had planned to launch digital versions of …

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SEC gives OK to social media platform to issue stablecoin without registering as a security

The U.S. Securities and Exchange Commission, or SEC, has issued a rare no-action letter in response to a request from a blockchain-backed platform over the issuance of a digital asset. The SEC letter issued on Nov. 19 says that its Division of Corporation Finance would “not recommend enforcement action” against avatar social platform IMVU issuing …

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