Competing systems for settlement of “multiple assets and currencies” may emerge, and it is the job of central banks to ensure the maintenance of “equitable access” to central bank-issued money, a new report from the Bank for International Settlements (BIS) has said…. Read More: Central Banks Test CBDC as ‘Multiple Assets and Currencies’ Coming…
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Digital asset exchange Huobi Global has revealed its intention to exit the Chinese Market. The crypto trading platform with Chinese roots said it will stop processing transactions for existing users on the mainland by the end of the year. Huobi Global Halts Services in the People’s Republic Crypto exchange Huobi Global is going to discontinue…
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The Central Intelligence Agency (CIA) Director William Burns has admitted that his agency has “a number of different projects focused on cryptocurrency” in progress – and claimed that his predecessor Gina Haspel had “started” the CIA ball rolling in the crypto sphere. What is more, the agency is feeding its crypto “information” to “other…
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Multinational financial services giant Visa is pushing deeper into the booming crypto market, launching crypto advisory services to help clients understand various segments of the crypto industry. In an announcement, the payment network acknowledged that “digital currencies are taking greater hold in the popular consciousness,” which creates the need for trustable advisory services that…
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South Korea’s newly crypto-keen presidential candidate Lee Jae-myung has doubled down on his admiration for crypto: Fresh from telling the public that he was thinking of creating and issuing a national cryptoasset, the ruling Democratic Party presidential nominee has heaped more praise on crypto as an asset class…. Read More: South Korea’s Potential Next…
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Australian crypto exchange myCryptoWallet has tanked following a wave of complaints by users and allegations of missing funds, potentially leaving behind countless customers deprived of access to their crypto assets. Insolvency firm SV Partners has been appointed the liquidator of the troubled business, The Sydney Morning Herald reported. … Read More: Aussie Crypto Exchange Sinks…
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A report issued by the Huobi Research Institute, the investigative arm of the Asian exchange, examines the effect that upcoming changes of U.S. Federal Reserve policy could have on the price of cryptocurrencies. The report, titled “Taper Landed: The Turning Point of The Cryptocurrency Market is Coming,” states that due to the upcoming tapering, the…
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Russia’s central bank has voiced opposition to the provision of financial services related to cryptocurrencies. The monetary authority believes such offerings would go against the interests of Russian investors as they are highly risky. Central Bank of Russia Unwilling to Allow Financial Services for Crypto Assets The Central Bank of Russia (CBR), known for its…
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The move comes as the Bank of Japan wants to roll out a digital yen CBDC by the end of next year. According to The Nihon Keizai Shimbun (Nikkei), one of the world’s largest financial newspapers and the entity behind the Nikkei 225 stock index, Japan’s Financial Services Agency, or FSA, will propose legislation next…
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The crypto market continued lower on Monday after a weekend sell-off that was described as a “significant deleveraging event.” Despite the event now being behind us, however, some traders continued to worry about the potential for an extended market correction. At 11:14 UTC, the total crypto market capitalization had fallen to USD 2.292trn, down…
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