Bank of Korea Governor Lee Ju-yeol has expressed skepticism over the recent crypto rally, stating that the bank is progressing with a digital currency project. Amid a major downward correction in the cryptocurrency market, the head of South Korea’s central bank is skeptical about digital currencies like Bitcoin (BTC). Bank of Korea Governor Lee Ju-yeol…
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Tencent-backed WeBank and Ant Financial-backed MYbank will reportedly be the first private banks to join China’s digital yuan pilot. China’s central bank is pushing exposure to its ongoing national digital currency pilot by enlisting two major private banks in the project. According to a Feb. 22 Bloomberg report, MYbank and WeBank will help the People’s…
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Mark Carney, one of the most prominent central bankers of the post-financial crisis era, has officially joined the digital payments company. Stripe has all but abandoned cryptocurrency payment solutions for the time being, but its founders are positive about the emerging industry. After paving the way for digital currency innovation at the Bank of England,…
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Sweden’s exploration into CBDCs will continue until 2022, as the nation’s central bank seeks to construct a digital version of the krona. Sweden’s central bank has extended an ongoing pilot aimed at creating a digital version of the Swedish krona until 2022, as was recently announced by the nation’s Riksbank. In combination with professional services…
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Algorand rallied to a multi-year high after the network emerged as a possible choice for central bank digital currencies and the team revealed its DeFi plans. In the past few months cryptocurrencies have become a frequent topic of discussion among the mainstream media and traditional investors partially because of the Bitcoin evangelism of well-known influencers…
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MasterCard will allow its almost one billion users to spend cryptocurrencies at more 30 million merchants, although it hasn’t specified which coins will be supported. MasterCard has announced plans to support cryptocurrencies in 2021, paving the way for its nearly one billion users to spend digital assets at more than 30 million merchants. The firm…
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China’s market regulator finalizes rules that have been three months in the making. China has finalized new guidelines to aid in antitrust battle against tech giants. On Feb. 7, the State Administration for Market Regulation released finalized rules for its anti-monopoly push against e-commerce and payments giants like Alibaba, Ant Group and Tencent. The guidance specifically…
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The Indian crypto industry sees a brief panic over the government’s plans to ban “private cryptocurrencies” and explore the need for a CBDC. The Indian Crypto community has been involved in discussions with the government about how it should perceive cryptocurrencies and blockchain technology before finding ways to regulate the industry ever since the government…
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China’s first hardware wallet for the digital yuan supports dual offline payments without an internet connection. A Chinese banking institution has completed the development of a hardware wallet for the country’s central bank digital currency, the digital yuan According to a Feb. 7 announcement by Xiong’an authorities, the Xiong’an branch of the Agricultural Bank of…
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Many nations are moving to advanced stages of CBDC engagement, according to the Bank for International Settlements. Central bank digital currencies, or CBDCs, are entering the “advanced stages” of engagement as nations around the world look to capitalize on blockchain technology, according to a new report by the Bank for International Settlements. In its latest…
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