Nigeria and the United States have pledged to collaborate in advancing the digital economy and emerging technology, including artificial intelligence (AI).Speaking after a four-day event focused on Nigeria’s AI strategy, Arthur Brown, the deputy chief of mission at the U.S. Embassy in Abuja, said the American government will support the West African nation to develop infrastructure and drive research and innovation

Hong Kong identifies pseudonymous validators as risk for banks using public blockchains

coingeek 2024-04-24 43913 views Trending

The Hong Kong Monetary Authority (HKMA) recently provided banks with guidance on using blockchain technology.While it provided risk assessment topics for consideration, the HKMA emphasized the need to consider each solution individually. It said banks must take steps to mitigate the risks associated with using public blockchains.

EU is not so crypto-friendly, regulator warns

coingeek 2024-04-23 66376 views Trending

Last week, hundreds of key players in the digital currency industry descended on Paris to hear more about the European Union’s famous regulatory clarity.

Banking giants take part in UK Finance’s Regulated Liability Network experimentation

coingeek 2024-04-22 58675 views Trending

United Kingdom trade organization, UK Finance, has announced that 11 of its members are participating in an experiment focusing on the U.K. Regulated Liability Network (RLN), a platform designed to foster innovation in financial transactions.

Bitcoin briefly dips under $60K amid reports of worsening Middle East crisis

cointelegraph 2024-04-19 65970 views Trending

The price of Bitcoin briefly went under $60,000 for the second time this week after reports of explosions at an airport in central Iran.

Bitcoin Halving 2024: Navigating the transformation of the mining industry

cointelegraph 2024-04-18 68771 views Trending

The Bitcoin halving of 2024 is set to fundamentally transform the mining industry, challenging profitability and prompting a strategic reevaluation of energy use and operational efficiency.

New stablecoin, digital asset legislation headed to UK by July

coingeek 2024-04-17 64504 views Trending

The United Kingdom is getting ready to introduce new legislation for digital assets and stablecoins by June or July 2024, according to Economic Secretary Bim Afolami.Speaking at the Innovate Finance Global Summit in London on Monday, Afolami stated that the government is preparing legislation encompassing stablecoins and a range of digital asset activities.

Stablecoins gaining traction in cross-border payments: Report

coingeek 2024-04-16 30464 views Trending

Stablecoins are increasingly gaining traction in cross-border payments, with payment giants like Visa (NASDAQ: V) and PayPal (NASDAQ: PYPL) among those exploring them, a new report claims.

Bitcoin dominance hits 3-year high as BTC price dip pressures altcoins

cointelegraph 2024-04-15 78383 views Trending

Bitcoin scores an accidental multiyear high as BTC price volatility sends altcoins shooting lower.

Zimbabwe launches new gold-backed currency, but age-old challenges remain

coingeek 2024-04-12 72209 views Trending

Few countries globally have been bedeviled by currency woes more than Zimbabwe. In the past two decades, the Southern African country has tried five currencies, but none has made its mark. The latest attempt is the Zimbabwe Gold, or ZiG, with the government promising the people that this time, it will be different.

Hong Kong’s largest digital bank pursues stablecoin issuers

coingeek 2024-04-11 53629 views Trending

ZA Bank, Hong Kong’s largest digital lender, will now offer dedicated services to stablecoin issuers in the city-state.In a recent announcement, the bank revealed that it’s in talks with eight potential clients about setting up dedicated accounts for the cash reserves they would use to back their stablecoins.

Central banks explore asset tokenization on BIS unified ledger

coingeek 2024-04-10 39560 views Trending

Currencies, bank deposits, promissory notes, real estate, and even inventory in supply chains are some of the things businesses, banks, and organizations of all kinds are tokenizing on blockchains.

Bitcoin bulls nudge at $70K as BTC price sees 'not typical' weekend

cointelegraph 2024-04-09 73040 views Trending

Bitcoin is "well positioned" for a strong weekly close, but not everyone is trusting of traditionally unreliable weekend BTC price action.

AI, blockchain changing methods of banking, India PM says

coingeek 2024-04-08 78755 views Trending

New technologies like artificial intelligence (AI) and blockchain have completely changed the methods of banking, India’s Prime Minister Narendra Modi said.As a result, the role of cybersecurity has become highly significant in the growing digital banking era. Innovations in fintech will create new methods of banking, he said.

Argentina to VASPs: Register or shut down

coingeek 2024-04-07 34874 views Trending

Argentina has unveiled a new mandatory registry for all virtual asset service providers (VASPs) in a move that has rattled ‘crypto’ anarchists.The Comisión Nacional de Valores (CNV), the top securities watchdog in the Latin American nation, announced the registry recently, noting that it aligns with recommendations from the Financial Action Task Force (FATF).

CBDC anonymity will impact bank lending: Bank of Canada

coingeek 2024-04-03 53128 views Trending

Privacy has been the most debated aspect of central bank digital currencies (CBDCs). The focus has been exclusively on how this privacy affects users, but in its new report, the Bank of Canada (BoC) studied how business anonymity will impact commercial banks’ ability to lend to entrepreneurs.

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Nigeria, US to partner on AI, digital economy