Search Results for "state-backed"
Central Banks Race to Adopt Fiat-Backed Cryptocurrencies
Cryptocurrency innovations are scrambling to get adoption across the world. However, there is also another race. Many nations are competing to become the first to adopt a central bank cryptocurrency. Let’s understand why central banks are scrambling to acquire fiat-backed cryptocurrencies.
Will Crypto Assets Have a Future in Russia After All? State Duma Passes DFA Bill
The State Duma of Russia passed a law regarding digital financial assets (DFA) in the financial bill’s third reading, which determined the fate of Bitcoin and other cryptocurrencies.
Singapore State Investor Temasek Joins Libra Association, Facebook’s Global Digital Currency Project
Singapore’s state investor, Temasek Holdings has officially been named a member of the Facebook-backed digital currency project Libra. Temasek as a portfolio value of 313 billion Singapore dollars (roughly $219 billion), making it one of the more prominent backers of Libra. The Libra Association, an independent group based in Switzerland has also welcomed crypto investor Paradigm and Slow Ventures, a private equity firm.
Greece Council of State Rules for the Extradition of a Russian Bitcoin Laundering Suspect to France
Greece Council of State has ruled in favor of the order to extradite a Russian bitcoin laundering suspect named Alexander Vinnik, A.K.A "Mr. Bitcoin" to France, as reported by Greece Greek Reporter.
China to Test its CBDC on Tencent-Backed Platform and Other Domestic Firms to Break Dependence on the US
China’s central bank has taken another major step forward toward the digital yuan’s mass adoption with its testing on food delivery giant Meituan Dianping. Backed by Tencent, Meituan has been having discussions with the People’s Bank of China’s central bank digital currency (CBDC), also known as digital currency electronic payment (DCEP) research wing.
Venezuela Wants Citizens to Pay Taxes in State-Issued Petro Cryptocurrency
Venezuela is moving on a mandate that could see taxes being collected using its state-issued cryptocurrency—the oil-backed Petro. The effort is part of a nation-wide campaign to create mainstream use cases for Venezuela’s cryptocurrency.
Coinbase Crypto Exchange to Launch Bitcoin-Backed Loans to US Clients
Coinbase announced yesterday that it was going to offer Bitcoin-backed loans to their US customers, set to be in effect for fall of this year.
Huobi Joins State-Backed Blockchain Alliance in China to Provide Blockchain Infrastructure Services
In the first-ever Blockchain Service Network Partner Conference hosted by the National Information Center and Hangzhou Municipal People's Government in China, it was announced that cryptocurrency exchange Huobi has joined the Blockchain Services Network (BSN), an alliance initiated by the State Information Center (SIC).
Bitmain-Backed Digital Assets Company Matrixport Extends Its Crypto Services into Europe
Matrixport, a Singapore headquartered and Bitmain-backed crypto company that offers trading, lending, and custody services, extends its services into Europe through the establishment of its new Zurich office.
Venezuelans to Bypass Hyperinflation with Bitcoin-Backed Synthetic US Dollars After Years of Extreme Economic Crisis
A cross-border remittance startup based in Colombia, Valiu has released a new Bitcoin-backed US dollars for Venezuelans to bypass the hyperinflation that has been tormenting their national economy.
New Jersey State Considering New Bill to Set New Requirements for Cryptocurrency Businesses
The New Jersey state legislature received a new bill, the Digital Asset and Blockchain Technology Act by Assemblywoman Yvonne Lopez. This new bill would require cryptocurrency and virtual currency to obtain a license to operate, allowing for more consumer-friendly protections.