Reserve Bank of India plans ‘delegated payments’ through UPI

    coingeek 2024-08-12 55867 views Trending
    ​The Reserve Bank of India (RBI) plans to introduce a facility of ‘delegated payments’ in the Unified Payments Interface (UPI) to boost digital payments in the country. The initiative will allow multiple users to make transactions from a single primary bank account up to a limit.

    Slovenia issues inaugural digital bond in EU via BNP Paribas

    coingeek 2024-08-09 67068 views Trending
    ​Slovenia launched a $30 million digital bond at the tail end of July, joining an exclusive group of nations that rolled out their versions of the assets.The issuance is the first sovereign digital bond in the EU and could set further issuances in the coming months. Operating as a short-dated digital bond, Slovenia’s government tapped BNP Paribas for issuance with the bank, providing book-running and coordinating services.

    Reserve Bank of India: CBDCs may reduce availability of cash deposits with banks

    coingeek 2024-08-08 60683 views Trending
    ​While central bank digital currencies (CBDCs) can open up a world of new opportunities, they can also reduce bank deposits, affecting the credit-creating capacity of commercial banks.

    Hong Kong must accelerate the development of Web3, lawmaker says

    coingeek 2024-08-07 44633 views Web3
    ​A Hong Kong lawmaker has pledged the city-state’s commitment to accelerating the development of the Web3 ecosystem amid a renewed global digital asset push led by United States presidential candidate Donald Trump.

    UAE establishes new charter to ensure safe AI usage, equality

    coingeek 2024-08-06 76622 views AI
    ​Keen to improve its global artificial intelligence (AI) standing, the United Arab Emirates has announced a new charter for the technology to protect the interest of consumers within its borders.

    California DMV digitizes 42 million car titles on the blockchain

    coingeek 2024-08-05 75288 views Trending
    ​The California Department of Motor Vehicles (DMV) is putting over 40 million car titles on the blockchain in a digital push.The DMV has partnered with blockchain startup Oxhead Alpha on the initiative, which aims to modernize one of America’s most notorious government services. According to an oft-cited study, queueing at the DMV is the wait that Americans hate the most, topping waiting at hospitals, retail outlets, and fast-food restaurants.

    Peru inaugurates first CBDC pilot

    coingeek 2024-08-02 73674 views Trending
    Peru’s central bank has launched its first central bank digital currency (CBDC) pilot, selecting local telecom operator Viettel Peru as its partner.The Central Reserve Bank of Peru announced the partnership recently but didn’t disclose any details about the pilot. Viettel is the local subsidiary of Vietnam’s state-owned multinational telecom operator Viettel Group, which started operating in Peru in 2014.

    Swiss finance regulator updates rules for stablecoin issuers

    coingeek 2024-08-01 75277 views Trending
    The Swiss Financial Market Supervisory Authority (FINMA), the country’s top finance sector regulator, has proposed new guidelines for stablecoin issuers to strengthen oversight and mitigate risks. Notably, the guidelines include classifying stablecoin issuers as financial intermediaries.

    US House passes bill combating terrorist, illicit financing via digital assets

    coingeek 2024-07-31 44295 views Web3
    ​The United States House of Representatives passed the bipartisan Financial Technology Protection Act unanimously, which, if made law, would establish a working group made up of key federal government departments, intelligence agencies, and private sector experts to help combat terrorism and illicit financing on digital platforms.

    Kazakhstan uses programmable CBDC to pay for railway to China

    coingeek 2024-07-30 47069 views Trending
    As part of the second phase of its central bank digital currency (CBDC) trials, the National Bank of Kazakhstan (NBK) has launched a project that uses a programmable digital tenge to pay for a railway to China.

    Moody’s joins Singapore’s Project Guardian to assess tokenization risk

    coingeek 2024-07-29 41476 views Trending
    Global credit rating giant Moody’s has joined Project Guardian, the asset tokenization initiative by Singapore’s central bank, to assess tokenization risk.Moody’s announced that it would focus on the fixed-income workstream at Project Guardian, providing risk analysis for tokenized fixed-income products. This ranges from stablecoins and fixed-income securities to tokenized deposits and fund units. Its involvement will boost the initiative’s transparency and reduce systemic risks.

    Russia cautiously warms up to digital asset payments as Putin warns of power disruptions

    coingeek 2024-07-26 72728 views Trending
    ​Russia’s anti-money laundering chief has urged the country to expedite digital asset payments in international trade, but President Vladimir Putin has warned that miners could disrupt the country’s national grid.

    Jordan launches national blockchain network

    coingeek 2024-07-25 39659 views Web3
    ​Jordan has launched a new national blockchain network to enhance transparency and promote trust in the public service sector.Known as MODEE DLT, it was unveiled this week by the Ministry of Digital Economy and Entrepreneurship (MODEE). The ministry partnered with local blockchain firm Blockexe on the project.

    Nigeria begins implementation of national blockchain policy

    coingeek 2024-07-24 50376 views Trending
    Nigeria has officially kickstarted implementing its national blockchain policy, which aims to push for the integration of the technology in the private and public sectors.

    South Korea’s first digital asset law comes into force after year of finessing

    coingeek 2024-07-23 50772 views Trending
    South Korea’s first digital asset regulatory framework came into force, with the framework focusing on investor protection and mandates that exchanges keep at least 80% of user deposits in a cold wallet.

    Hong Kong unveils stablecoin consultation results

    coingeek 2024-07-22 39622 views Trending
    ​Two of Hong Kong’s leading financial regulators have bared the results of stablecoin consultations conducted in 2023 as the city-state’s digital asset policies take shape.FSTB launched the consultation in December in partnership with the Hong Kong Monetary Authority (HKMA). It cited the collapse of TerraUSD (UST), the $18 billion algorithmic stablecoin disaster, as one reason fast action to regulate the sector was necessary.

    South Korea’s ruling party wants to postpone 20% digital asset tax to 2028

    coingeek 2024-07-19 52868 views Trending
    ​South Korea’s ruling party has proposed postponing the disputed 20% tax on annual digital asset gains by yet another two years.Originally scheduled to take effect in 2021, the proposed taxation caused uproar in the South Korean digital currency space, forcing the government to postpone it to 2023 to prepare the industry better.

    EU, UK regulators launch consultations on digital asset data reporting and wallets

    coingeek 2024-07-18 44975 views Trending
    Tech consultation season has kicked off in Europe, with regulators from the United Kingdom and the European Union seeking feedback on digital asset-related issues.On July 15, the European Banking Authority (EBA), an independent EU Authority in charge of prudential regulation and supervision across the European banking sector, launched a consultation on draft guidelines for digital asset issuer reporting requirements.

    From street vendors to large stores, Indian merchants adopt digital payments: survey

    coingeek 2024-07-17 64444 views Trending
    Digital modes of payment account for about 69% of total transaction volumes for Indian merchants, with street vendors such as fruit and flower sellers, food stalls and small stores joining the digital payment revolution. On average, these vendors receive almost half of their payments digitally, revealed a survey by consulting firm Kearney, in association with Amazon Pay.

    US legislator urges Congress to declare Binance exec ‘hostage’ of Nigerian government

    coingeek 2024-07-16 57263 views Trending
    ​Two legislators in the United States have called on Congress to declare Binance executive Tigran Gambaryan a hostage of the Nigerian government if he’s not released soon.

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