Crypto isn’t inherently good in just its development and proliferation; the community must address the reasons causing financial exclusion. On Sept. 27, Coinbase CEO Brian Armstrong sought to center his employees’ work around the company’s core mission: “to bring economic freedom to people all over the world.” Armstrong argues for a narrow interpretation of Coinbase’s…
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Amid the pandemic, blockchain is alleviating the pressure in China’s petrochemical trade. One of China’s largest chemical producers has launched a new Blockchain Warehouse Receipt Platform to help the industry combat the rising costs of operations and trade financing. An increased demand for more environmental and safety measures amid the pandemic has further driven costs…
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Japan is getting more serious about the digital yen. Japan needs to adapt its laws to issue a central bank digital currency, according to a local financial official. Kozo Yamamoto, head of the Liberal Democratic Party’s council on financial affairs and a former official at the Ministry of Finance, believes that Japan must revise a…
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In three years, a younger generation of banking customers won’t do business with a traditional fiat bank unless it offers access to crypto. Within a few years, a younger generation of financial services customers are going to be able to walk into a bank and gain access to credit products, savings accounts and investments that…
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China might gain control over global CBDC standards, a Japanese official warns. Japanese banking officials continue to voice concern over China’s progress in the development of its central bank digital currency. Kenji Okamura, vice-finance minister for Japan’s international affairs, warned the global community of the potential risks of China’s digital yuan, Reuters reported Oct. 9.…
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To ban crypto or to tax, that seems to be the question. Russia’s Ministry of Finance is continuing to push regulations for the cryptocurrency industry by proposing new tax requirements. The ministry now reportedly wants to introduce criminal liability for failure to declare taxes on crypto, including prison terms of up to three years. According…
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With DeFi platforms bringing in profits for users, jumping onto this wagon seems to be highly attractive. But how easy is it to do? In 2020, as a result of the economic crisis caused by the spread of COVID-19, the world financial system is facing an increasing number of problems. The authorities of large countries…
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Widespread crypto adoption by enterprises has the potential to become a self-perpetuating mechanism for public blockchains, creating bigger, stronger networks. Of all the developments in blockchain technology over recent years, enterprise adoption has perhaps been the most anticlimactic. As the initial coin offering bubble started to inflate during 2017, blockchain entrepreneurs and commentators alike were…
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Bitcoin still has ground to make up in the mainstream world. Following the news of Fidelity Investments’ Bitcoin (BTC) fund filing, Mike Alfred, CEO of analytics outfit Digital Assets Data, described continued hesitancy in mainstream finance when it comes to Bitcoin. “Many in the traditional financial services/asset management/wealth management verticals remain deeply skeptical of Bitcoin…
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The Chinese government is supporting a new global DeFi association. Amid the ongoing craze around decentralized finance, or DeFi, a blockchain startup in China is launching a global DeFi initiative. Conflux Network, a permissionless blockchain startup, has launched a new DeFi-focused association focused on international cooperation of major industry players. Called “Open DeFi,” the new…
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