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The office of the U.S. Treasury that handles banks has issued a determination on the long-debated subject of custodying crypto assets Per a July 22 announcement shared with Cointelegraph, the Office of the Comptroller of the Currency (OCC) is granting permission to federally chartered banks to custody cryptocurrency. The future of banking with crypto on …

US Banking Regulator Greenlights Crypto Custody at Federally Chartered Banks Read More »

The People’s Bank of China (PBoC) has published a set of evaluation rules for blockchain-based finance applications. The published rules aim to provide regulatory oversight using three basic standards bordering on technical, performance, and security. The regulations will affect banks, insurance companies, brokerages, and other financial institutions that have or plan to integrity blockchain.  The Chinese central …

China’s Central Bank Publishes Rules for Blockchain-Based Financial Applications Read More »

The China Securities Regulatory Commission, or CSRC, recently issued a letter approving five regional equity markets. They will include equity centers in Beijing, Shanghai, Jiangsu, Zhejiang and Shenzhen. These and other regions received authorization to begin experimenting with a blockchain pilot in early July. Blockchain and equity trading According to Beijing Local Financial Supervision and Administration, …

China Considers Implementing Blockchain Tech in Equity Trading Centers Read More »

Japan’s central bank announced that it has set up a new research team to dive deeper into Central Bank Digital Currency (CBDC) experimentation and development. The Bank of Japan (BOJ) is possibly preparing for a CBDC, given the recent rising demand for classless payments and growing interest among other central banks. The New Team to Explore the …

Bank of Japan Sets Up New Research Team For Digital Yen CBDC Development Read More »

Earlier this year, Banque de France, the French central bank launched a program of experiments to test out the potential central bank digital money aimed for interbank settlements. Potential participants have been invited to submit their applications to experiment with the digital euro, and Banque de France announced the 8 successful applicants: Accenture, Euroclear, HSBC, Iznes, …

Bank of France Announces HSBC, Accenture Among the 8 Successful Applicants of the CBDC Experimentation Program Read More »

As the development of the digital yuan project progresses, the number of China’s largest companies testing the national cryptocurrency is rapidly growing. Despite the global economic crisis and the consequences of the coronavirus pandemic, the development of the Chinese national cryptocurrency, the Digital Currency Electronic Payment, is steadily progressing. The increase in the number of …

Digital Yuan CBDC Momentum Grows as More Chinese Firms Get to Testing Read More »

Vachira reportedly cited the CBDC experience of China, claiming that the public rollout of the digital yuan has not affected the financial system in the country so far. As reported, the BOT officially launched a pilot project to test its CBDC payment system in June 2020. Announcing the news, the bank said that before rolling out the system to …

Bank of Thailand Progresses With Digital Baht Tests Before Public Launch Read More »

The Japanese Government has continued its acceleration towards a Central Bank Digital Currency (CBDC) and is set to include its consideration in its formal economic plan. In a report from Nikkei on July 14, Japanese officials will continue to consider and discuss a CBDC in their official Honebuto Plan for Economic and Fiscal Revitalization. The Japanese government …

Japan Will Include Central Bank Digital Currency in Honebuto Economic Plan Read More »

The Beijing government has released its first blockchain application blueprint for government services, claiming 140 applications already use the technology.The Beijing government will release its first blockchain application blueprint on government  services in China today, according to the local news on July 15.   According to the blueprint, 140 government service applications are already on the blockchain. …

Beijing: 140 Government Services Applications Are Using Blockchain Read More »

In a letter to the European Commission in March 2020, payment giant PayPal has now confirmed that has it is actively working to bring cryptocurrencies capabilities on its platform. In the detailed letter, PayPal said that it has taken tangible and unilateral steps to further develop its capabilities in the cryptocurrency space. In June 2020, sources emerged …

PayPal Confirms Its Plan to Develop Cryptocurrency Capabilities in its Letter to the European Commission Read More »