New study jointly conducted by international trade organizations focuses on possibilities and challenges of blockchain tech implementation to the industry. Distributed ledger technology, colloquially termed “blockchain,” is making a bold promise to help bring the trade industry into the digital age. To help shed light on the intricate workings of the technology and the role…
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South Korea’s government plans to tax capital gains returns on cryptocurrency transactions. The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the…
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U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell do not anticipate the development of a national digital currency in the country. United States Secretary of the Treasury Steven Mnuchin said that he and Federal Reserve Chairman Jerome Powell do not anticipate the development of a national digital currency in the country. Mnuchin…
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The benefits associated with stablecoins pale in comparison to their risks and challenges, according to a new statement from EU authorities. No global stablecoin project will begin operation in the European Union (EU) until the associated risks to monetary sovereignty are addressed, according to EU authorities. In a joint statement adopted by the Council of…
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The central bank of France plans to pilot a central bank digital currency for financial institutions by the end of the first quarter of 2020. The central bank of France plans to pilot a central bank digital currency (CBDC) for financial institutions in 2020. François Villeroy de Galhau, the governor of the Bank of France,…
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Georgia Governor Brian Kemp has appointed Kelly Loeffler, CEO of institutional Bitcoin futures platform Bakkt, to a United States Senate seat. Georgia Governor Brian Kemp has appointed Kelly Loeffler, CEO of institutional Bitcoin (BTC) futures platform Bakkt, to a United States Senate seat. With the appointment, Loeffler will replace Sen. Johnny Isakson (R-GA), who plans…
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China’s Great Firewall, a tool used to ban Chinese people from using sites like Google, and Facebook, has blocked Etherscan’s site. China’s Great Firewall, a tool used to ban Chinese citizens from using sites like Google and Facebook, has listed a major explorer for Ethereum’s (ETH) blockchain. According to data from non-profit monitoring organization GreatFire,…
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The South African Reserve Bank is reportedly going to impose new regulations for the use of digital currencies in a bid to deter crypto users from evading currency controls. The South African Reserve Bank (SARB) — the country’s central bank — is purportedly going to impose new regulations for the use of digital currencies in…
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Decentralized cryptocurrency exchange CryptoBridge announced the closure of its platform, citing market conditions and regulatory pressure. The decentralized cryptocurrency exchange (DEX) CryptoBridge announced that it is closing down in a message on its website. In the announcement, the exchange warns users that all of the firm’s services and servers will terminate after Dec. 15. Users…
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Libra could face even more stringent requirements as U.S. lawmakers introduce a bill seeking to classify stablecoins as securities. A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might…
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