If central banks control all uses of money, this is not democracy, Coinbase’s ex-tech chief Balaji Srinivasan is convinced. The entrepreneur commented on statements by the head of the Bank of International Settlements during an IMF meeting devoted to cross-border payments. Balaji Srinivasan Speaks Out Against Centralized Control Over Money Through CBDCs Former chief technology…
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According to a July 4, 2023 press release from the Danish Financial Supervisory Authority, Denmark’s Saxo Bank has been instructed to liquidate its holdings of cryptocurrency assets. The financial regulator maintains that Saxo Bank’s portfolio of crypto assets falls “outside the legal business area of financial institutions” and is in violation of the country’s Financial…
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During the past fortnight, the crypto asset litecoin (LTC) has surged over 40% against the U.S. dollar after the crypto exchange EDX announced the listing of LTC alongside three other prominent digital currencies. Additionally, Litecoin is on the verge of a reward halving, with only 30 days remaining until its block reward subsidy decreases from…
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Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside Russia. Russian Government Backs Initiative to Test Digital Assets in Payments Abroad The…
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On June 10, 2023, bitcoin is dominating with a market capitalization dominance of 47.5%, marking its highest level since this time last year, according to coinmarketcap.com. Meanwhile, ethereum’s dominance is holding steady at 20%, indicating that the recent dominance gains made by these two crypto assets have come at the expense of other digital currencies.…
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U.S. Securities and Exchange Commission Chair Gary Gensler discussed crypto exchanges and digital currencies at the Piper Sandler Global Exchange & Fintech Conference. He insisted that there is “nothing about the crypto securities markets that suggests that investors and issuers are less deserving of the protections of our securities laws.” Gensler reasserted his belief that…
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In a recent statement, former U.S. Federal Reserve chair and current Treasury secretary, Janet Yellen, expressed her desire for Congress to enact more regulatory measures concerning the cryptocurrency industry. Yellen cited Treasury reports on cryptocurrencies that have pinpointed various risks linked to the fast-growing sector. Yellen Sees ‘Holes in the System Where Additional Regulation Would…
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In the aftermath of the U.S. Securities and Exchange Commission’s (SEC) enforcement actions against Coinbase and Binance, chairman Gary Gensler engaged in a conversation, maintaining that further digital currencies are unnecessary. “We already have digital currency. It’s called the U.S. dollar. It’s called the euro or it’s called the yen, they’re all digital right now,”…
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The Dogecoin blockchain has witnessed a significant surge in transaction activity ever since the inception of DRC20 tokens. When compared to other prominent networks, Dogecoin has stood out with its substantial volume of processed transactions. Recent statistics reveal an unprecedented milestone reached on May 27, 2023, as the number of DOGE transactions soared to a…
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Three integration unions with Russian participation, BRICS, SCO, and the EAEU, should adopt joint policies on the use of digital currencies, according to a top representative of one of them. He also believes the international organizations should develop a new payment system with its own bank cards. BRICS, SCO, and EAEU May Launch Common Payment…
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