The executive arm of the EU is gearing up to start public consultations on the digital euro project next month. The European Commission will also prepare new legislation to establish the legal basis for the digital version of the common European fiat. A draft is expected in 2023. EU Finance Chief Announces Legislative Plan for Digital Euro The European Commission…
HM Revenue and Customs (HMRC), the chief tax authority in the United Kingdom, have seized three nonfungible tokens (NFTs) associated with a suspected tax evasion fraud. The tax watchdog claimed it was the first U.K. law enforcement agency to seize NFT. The NFT seizure came along with the arrest of three people who are suspected of evading taxes using various…
The cryptocurrency industry in the United States is about to score a major legal win as the U.S. Treasury Department plans to spare crypto miners, and other “ancillary parties” from tax reporting rules. In a letter to a group of senators on Friday, the U.S. Treasury indicated that it plans to exempt crypto miners, stakers and other market participants from…
According to an announcement from Jamaica’s Prime Minister Andrew Holness the Bank of Jamaica plans to “roll out” its central bank digital currency (CBDC) after the country’s successful pilot last year. Jamaica’s CBDC Is Due to Launch This Year Jamaica, the island country situated in the Caribbean Sea is planning to launch its CBDC this year, according to Prime Minister…
Bitcoin (BTC) starts the week with a slow drag downhill towards pivotal support at $40,000. After bulls had something to celebrate last week, the current environment looks like a fresh dose of reality as BTC battles nervous stock markets, a resurgent U.S. dollar and more. The picture is, as always, mixed — while spot price may not look too impressive,…
Coinbase’s first Super Bowl spot invites everyone to experience the cryptoeconomy first hand. CMO Kate Rouch shares why she’s excited about the company’s goal of introducing a billion people to the cryptoeconomy and the power of community. COINBASE: This year’s Super Bowl is being dubbed the “Crypto Bowl” given the number of ads from crypto companies. What does this mean…
press release PRESS RELEASE. Lbank excited to announce that LBank Exchange—the world-class digital asset trading platform—has integrated Chainlink Price Feeds. By integrating the industry-leading decentralized oracle network, LBank Exchange will have access to high-quality, tamper-proof price feeds needed to help secure perpetual futures trading on the platform. This will provide our users with stronger assurances that LBank futures contracts are…
The Central Bank of Bahrain (CBB), working in partnership with Bank ABC, recently announced it had successfully tested the transfer of funds across borders using JPMorgan’s JPM Coin. The test fulfills the central bank’s goal of creating safe and efficient settlement solutions for customers. Eliminating Inefficiencies in the Cross-Border Payment Arena With CBDCs Bahrain’s central bank recently said it had…
The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, says that crypto assets and stablecoins are no match for well-designed central bank digital currencies (CBDCs). “If CBDCs are designed prudently, they can potentially offer more resilience, more safety, greater availability, and lower costs than private forms of digital money,” she said. IMF on Crypto, Stablecoins, and CBDCs IMF…
Switzerland’s largest bank, UBS, expects the United States Congress to take a long time to pass cryptocurrency legislation despite mounting interest in crypto investments and regulators calling for Congress to weigh in on crypto legislation. Congress Could Take a Long Time on Crypto Legislation The largest bank in Switzerland, UBS, published its view on U.S. crypto legislation Friday after the…
