E-commerce giant JD.com took payments in Chinas central bank digital currency (CBDC) at a massive local shopping event. JD.com accepted digital yuan (e-CNY) for payment on its e-commerce application for the Singles Day promotion period which began on Oct. 31 and ended on Nov. 11, the firm confirmed on Thursday. Singles Day is an unofficial shopping holiday in the country…
In Nigeria, commercial banks have begun monitoring accounts that appear to be utilized for cryptocurrency trading. The action is in response to an order from the Central Bank of Nigeria (CBN) demanding that all commercial banks freeze accounts belonging to at least two individuals engaged in cryptocurrency trading. According to a report by local publication Leadership, an internal memo in…
The digital ruble is what Russian citizens need as it will facilitate inexpensive and reliable payments, the head of Bank of Russia, Elvira Nabiullina, told participants in an international banking forum. The governor also warned that cryptocurrencies and fiat-backed stablecoins create risks for financial stability. CBR’s Nabiullina Praises Digital Ruble Concept, Rejects Cryptocurrencies The Central Bank of Russia (CBR) takes…
Bitcoin (BTC) an altcoin investment firm Grayscale now has more assets under management (AUM) than the world’s biggest gold fund. According to the latest data from issuer Grayscale, Grayscale now controls over $60 billion $1.7 billion more than leading gold fund, SPDR Gold Shares (GLD). Praise for Grayscale, futures ETFs Grayscale’s flagship Bitcoin product, the Grayscale Bitcoin Trust (GBTC), meanwhile…
Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) futures-based exchange-traded fund (ETF) amid a number of such products launching in the United States. While dropping its futures-linked ETF, the firm is still bullish on a spot Bitcoin ETF, which is designed to track Bitcoin directly, Bitwise chief investment officer Matt Hougan announced on Nov. 10. Hougan said…
Conflicting news about whether Chinese property giant Evergrande had defaulted on its overdue loan payments emerged just before Bitcoins recent price crash. Evergrande Group is Chinas second-largest property developer and is in debt for roughly $300 billion. There are fears that its collapse could spark a wider financial crisis. Two minutes after Evergrandes payment was due, the Deutsche Markt Screening…
The U.S. Treasury Department proposed regulating stablecoin issuers as banking institutions, which may be a great idea if stablecoin issuers are offered the same privileges as regulated banks. US Treasury Department Report: Stablecoins Regulation Is Urgently Needed The rise of stablecoins within the crypto ecosystem serves as a glaring reminder that cryptocurrencies and blockchain technology have outgrown their humble beginnings,…
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Major players in the Bitcoin (BTC) mining industry have their sights set on nuclear energy as pressure mounts to go green. Nuclear energy could present a tremendous opportunity to introduce enormous amounts of clean, carbon-free energy to the base load, said GRIID vice president Harry Sudok at the Bitcoin & Beyond Virtual Summit on Nov. 10. GRIDD is an American…
Bank of England Governor Andrew Bailey has warned that crypto assets are providing another means of payment for people who want to conduct criminal activity. Bank of England Governor Andrew Bailey Sees Crypto Helping Criminal Activities The governor of the Bank of England, Andrew Bailey, said during an online question-and-answer session organized by the British central bank that the rise…
