Nigeria’s Interpol upskilled to combat digital asset crime

    coingeek 2024-05-20 48781 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 79660 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 38305 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 61293 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 49185 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 79375 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 74348 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 77833 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 64188 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 70926 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 42787 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 75278 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 41005 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 45916 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 64304 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 64277 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.

    Nigeria, US to partner on AI, digital economy

    coingeek 2024-04-25 69546 views Trending
    ​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 44138 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 66612 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 58923 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.
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