US House passes FIT21 but uncertain future awaits in Senate, White House

    coingeek 2024-05-24 37040 views Trending
    ​The U.S. House of Representatives has made history by approving the first federal legislation governing how digital assets are to be regulated, although its ultimate fate remains anything but assured.

    India may extend market share cap deadline for UPI digital payment

    coingeek 2024-05-23 56394 views Trending
    India’s National Payments Corporation of India (NPCI), which has the regulatory mandate to oversee retail payments and settlement systems in the country, is likely to “delay caps on market share” for the popular instant real-time payment system Unified Payment Interface (UPI), extending the deadline by as much as two years.

    Ghana VP: Blockchain could save Africa billions of dollars

    coingeek 2024-05-22 37407 views Trending
    ​Ghana intends to become the first African country whose government runs on the blockchain, Vice President Mahamudu Bawumia said.Bawumia spoke at a regional anti-corruption event held in the capital, Accra. As local media reports, he touched on the current administration’s initiatives, from digitizing public services and passport applications to launching the new GhanaCard identity card.

    Big Data, IoT, AI to dominate priorities for enterprises in 2024: report

    coingeek 2024-05-21 70631 views Trending
    New research from Endava reveals that enterprises are advancing toward the adoption of emerging technologies, although macroeconomic conditions may force them to consider alternatives in the pursuit of workplace productivity.

    Nigeria’s Interpol upskilled to combat digital asset crime

    coingeek 2024-05-20 48564 views Trending
    Nigeria’s Interpol recently held a meeting with stakeholders in the blockchain and cybersecurity industries to discuss ways to combat ‘crypto’ crime.Interpol invited the African Stablecoin Consortium (ASC) and local blockchain analytics firm A&D Forensics to train its agents on digital asset crime. ASC comprises commercial banks and fintech developing cNGN, a naira-pegged stablecoin seeking to compete against the eNaira.

    Altcoins a ‘relatively huge’ risk as days of big returns are gone, say analysts

    cointelegraph 2024-05-17 79486 views Trending
    Altcoins have “tactical opportunities” but not the massive gains seen in previous cycles, says 10xResearch head of research Markus Thielen.The high-risk, high-reward theory of altcoins might be tilting toward the former as big gains are now less likely due to weak narratives driving the crypto market, say crypto analysts.

    EU body mulls including digital currency ETFs in UCITS for retail investors

    coingeek 2024-05-16 38110 views Trending
    Undertakings for Collective Investment in Transferable Securities (UCITS) funds are hugely popular in the European Union (EU) due to their strong investor protections and their ability to be transferred across the EU. They make up 75% of the total investments made by EU retail investors.

    University of Dubai’s global AI index to measure growth in learning institutions

    coingeek 2024-05-15 61075 views Trending
    ​The University of Dubai and the Artificial Intelligence Journalism for Research and Forecasting (AIJRF) have launched a new index to track the progress made by Arabian universities in terms of artificial intelligence (AI) integrations.

    Philippines aims for enhanced ADB backing in infrastructure, digitalization drive

    coingeek 2024-05-14 49029 views Trending
    ​The Philippines actively sought bolstered assistance from the Asian Development Bank (ADB) to advance its dual objectives of physical and digital infrastructure development.During the 57th ADB Annual Meeting’s Business Session, Finance Undersecretary Joven Balbosa emphasized the nation’s focus on fostering improved connectivity to amplify infrastructure investments.

    Bitcoin halving 'danger zone' has 2 days left with BTC price retesting $60K

    cointelegraph 2024-05-12 79182 views Web3
    Bitcoin has almost completed its prime BTC price drawdown phase after April’s halving, the latest analysis confirms.Bitcoin challenged $60,000 support into the May 10 daily close as the classic post-halving “danger zone” spooked bulls.

    New bill pushes blockchain use at US borders

    coingeek. 2024-05-11 74181 views Trending
    ​A United States legislator has proposed a bill requiring blockchain implementation at U.S. borders for security and efficiency.Rep. Nancy Mace (R-S.C.) introduced the bill this week to “cut the red tape and modernize border security.” The bill, titled ‘Border Security and Blockchain Technology Act,’ is co-sponsored by Rep. Byron Donalds (R-Fla.).

    No current need for CBDC, Central Bank of Chile finds

    coingeek 2024-05-10 77712 views Trending
    The Banco Central de Chile recently published its second report exploring the concept of a central bank digital currency (CBDC). It ultimately found there’s no need for one due to high levels of financial inclusion in the country (85-87%), but said it would prepare nonetheless. The report was the second of its kind and included 450 responses and the findings of eight working groups. Innovation, efficiency, and concerns about acceptance Survey respondents cited financial innovation, alternatives to electronic payments, a desire to encourage competition, lowering costs associated with payments, and enhancing efficiency as benefits of a CBDC. The roundtable consultations found greater efficiency in remittances, programmable payments and smart contracts, digital public money, and settling payments digitally as motivations. However, consumer acceptance of a CBDC was seen as a major challenge. Chile has two credit or debit cards per capita, e-wallets are widely available, and around 95% of the adult population has a bank account with Banco Estado. The usual concerns about bank deposits leaving accounts and the potential economic impacts were also raised. ​CBDCs march on While Chile has opted not to go forward with a CBDC for now, many other countries have reached the opposite conclusion. China’s digital yuan is live, BRICS countries are considering blockchain-based stablecoin settlements, and countries from Israel to South Africa are designing and testing CBDCs. Russia and Iran are even developing a CBDC to settle payments since they are currently locked out of SWIFT. Across the world, most studies and surveys find similar pros and cons to CBDCs. Efficiency, faster and cheaper payments, and programmable money are almost universally seen as positives, but concerns about reduced bank deposits and consumer uptake are almost always listed as drawbacks. Among citizens, attitudes to CBDCs differ widely. In developing nations, they tend to be seen in a more positive light, while citizens in the United States, Canada, the United Kingdom, and elsewhere have concerns about privacy and government control. Many of the concerns and downsides related to CBDCs can be mitigated by operating them on scalable public blockchains like BSV. Doing CBDCs this way would also eliminate many technical issues, such as cross-border settlement and efficient exchange. However, where CBDCs are being implemented, they are being done on private ledgers controlled by the central banks themselves.

    Kazakhstan sets up new committee to spearhead AI advancements

    coingeek 2024-05-09 64037 views Trending
    ​Keen on embracing digitization, Kazakhstan has unveiled a new artificial intelligence (AI) committee to lead the country’s efforts in the space.Operating under the Ministry of Digital Development, Innovation, and Aerospace Industry, the newly minted Artificial Intelligence and Innovation Development Committee is made up of technology, legal, and ethics experts drawn from a pool of applicants.

    10% of German money could shift into digital euro: Bundesbank

    coingeek 2024-05-09 70776 views Trending
    One of the biggest concerns regarding central bank digital currencies (CBDCs) is the disintermediation of retail banks and the economic impacts of reduced deposits.Last week, the Deutsche Bundesbank released a report containing the survey results on the possible impacts of bank disintermediation by the digital euro. It explored how households would react to the CBDC and combined the answers with an economic model to test the effect on banks.

    Dubai lays out blueprint for AI adoption as regional competition heats up

    coingeek 2024-05-07 42639 views Trending
    ​Dubai is leaving no stone unturned in its quest to increase artificial intelligence (AI) adoption metrics in the region, launching a new blueprint to integrate the technology into everyday life.

    Asia-Pacific navigates diverse stablecoin regulations, experts weigh in

    coingeek 2024-05-06 75119 views Trending
    As the digital economy surges forward, the promise of stablecoins as a pivotal tool in the financial landscape becomes increasingly apparent. However, amidst the excitement and innovation, countries in the Asia-Pacific region grapple with a complex web of regulations and compliance challenges.

    Stablecoin AML extension necessary for US national security: Brookings Institute

    coingeek 2024-04-30 40898 views Trending
    “Financial innovations can scale more rapidly than ever thought possible for reasons nobody could have predicted,” warned former Chair of the Commodity and Futures Trading Commission (CFTC) Timothy Massad in a recent paper for the Brookings Institute, pressing home the urgent need for more robust and comprehensive stablecoin regulations.

    India’s IndusInd Bank executes programmable CBDC pilot with farmers

    coingeek 2024-04-29 45792 views Trending
    India’s private sector lender, IndusInd Bank, has collaborated with climate-tech company Circularity Innovation Hub (CIH) to successfully execute the Reserve Bank of India’s (RBI’s) programmable central bank digital currency (CBDC) pilot. The pilot project will be executed as an alternate form of CBDC where the bank can program the end use of funds that would be disbursed to farmers instead of the generation of carbon credits, IndusInd said in a statement.

    Bitcoin chart bull flag is a ‘strong bullish setup’ — Analyst

    cointelegraph 2024-04-28 64185 views Trending
    Bull flags are historically associated with more upside momentum, but Bitcoin price could still use a catalyst before rallying to new highs.

    OpenAI opens office in Japan amid heightened scrutiny from EU regulators

    coingeek 2024-04-26 64172 views Trending
    OpenAI, makers of ChatGPT, has launched an office in Japan in a strong show of intent to expand its artificial intelligence (AI) offerings into new markets.
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