One of the quickest ways to ensure crypto’s mainstream adoption is by working with the regulators, which includes implementing effective and investor-centric KYC and AML tools. For Satoshi Nakamoto, the creator of Bitcoin (BTC), the motivation to create a new payment ecosystem from scratch in 2009 stemmed from the economic chaos caused by the banking…
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Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024. The Bank of Russia continues working towards the upcoming adoption of the central bank digital currency (CBDC), planning an official digital ruble rollout in a few years. According to the Bank…
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In an effort against Chinese cyberattacks, Taiwan employs Web3 technology for decentralized file sharing post-Pelosi visit. The Taiwanese Ministry of Digital Affairs (MODA) plans to implement decentralized technology into its web portal in an effort against cyberattacks. InterPlanetary File System (IPFS) is a Web3 technology that government officials will employ for decentralized file sharing. IPFS…
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“There is a concerning lack of publicly available data to effectively evaluate the diversity among America’s largest digital assets companies,” said the letter. A group of five lawmakers from the United States House of Representatives has requested data on the diversity and inclusion practices of 20 major firms dealing with cryptocurrencies and Web3. In a…
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The government of Kosovo has adopted measures tailored to maintain energy supply in the coming months, including a ban on cryptocurrency mining. The move comes amid a sharp increase in import prices and the restrictions can be extended for up to six months. Authorities in Kosovo Reinstate Ban on Cryptocurrency Mining The executive power in…
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According to Dubai officials, the subsidiary’s operations will serve as a regulatory trial for future commercial services using virtual assets. On Friday, FZE, a subsidiary of crypto exchange FTX, was awarded Dubai’s first Minimal Viable Product (MVP) license, allowing full operation of the exchange in the region. Dubai’s Virtual Asset Regulatory Authority (VARA) issued the…
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The government agency said that while deposits at insured banks were covered for up to $250,000, no such protections applied to those at crypto companies. The United States Federal Deposit Insurance Corporation, or FDIC, has issued an advisory informing the public it “does not insure assets issued by non-bank entities, such as crypto companies.” In…
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The Conservative Party is expected to decide between Rishi Sunak and LizaTruss as the next party leader by Sept. 5, at which point Johnson will officially step down Rishi Sunak, the former chancellor of the Exchequer, and Liz Truss, Secretary of State for Foreign, Commonwealth and Development Affairs, two of the final candidates to become…
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“Industry shouldn’t be allowed to write the rules that they want to play by,” said Senator Sherrod Brown in calling for U.S. lawmakers and regulators to address crypto scams. Senator Sherrod Brown, chair of the Senate Banking Committee, has penned letters to the CEOs of Google’s parent company Alphabet and Apple calling for the tech…
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“Blockchain is decentralised and doesn’t obey any governments, so no embargo affects us there”, NFT artist Gabriel Bianchini explained. Cuba’s art market shut down completely during the pandemic, leading the community to turn to digital markets for survival. However, artists say that they remain censored due to the United States sanctions against Cuba, with US…
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