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 …
The Bank of England has confirmed it is considering the development of a central bank digital currency (CBDC). The confirmation was made by the governor of the bank Andrew Bailey in a webinar session with college students. He said: “We are looking at the question of, should we create a Bank of England digital currency. We’ll go on looking …
The Monetary Authority of Singapore (MAS) and government-owned conglomerate Temasek released the final report of the Singaporean CBDC project, Project Ubin. The report is the fifth and final phase of Project Ubin, Singapore’s blockchain-based multi-currency payments network prototype that was built for the financial industry and blockchain ecosystem. Singapore’s central bank introduced Project Ubin in November 2016, …
G20 officials announced on July 11 that they would begin laying the regulatory groundwork for the group to accept digital payments. Digital currency payments may become a reality for G20 members before the next summit in Saudi Arabia. As reported by Kyodo News on July 11, officials revealed that the G20 summit compromising representatives from 19 countries …
G20 Lays Regulatory Groundwork for Accepting Digital Payments Read More »
The Italian Banking Association, Associazione Bancaria Italiana (ABI), chose to leverage the blockchain-based system Spunta, as they could not identify an appropriate single actor to run a centralized system. The Italian Banking Association’s Chief Innovation Officer Silvia Attanasio revealed why the ABI has chosen to use a decentralized blockchain system, Spunta DLT, as opposed to …
Italian Banking Association Chose Decentralized Blockchain Route Read More »
The Commodity Futures Trading Commission (CFTC), which regulates the U.S. bitcoin and ether derivatives markets, plans to develop a digital asset innovation blueprint by 2024. · “We will develop a holistic framework to promote responsible innovation in digital assets,” the swaps regulator teased in its 2020-2024 Strategic Plan, released Wednesday. · This “holistic framework” will help keep the CFTC apace …
CFTC Hints at Future Digital Asset Regulatory Framework Read More »
The United States Securities and Exchange Commission has voted to adopt rule amendments to expedite the review procedure for companies applying for public listing. The Securities and Exchange Commission (SEC) announced on July 6, that it had voted to adopt rule amendments to establish an expedited review procedure for investment companies under the Investment Company Act. The new …
SEC Adopts Expedited Public Listing Review Process—Blockchain ETFs Could Qualify Read More »
Fabio Panetta, a member of the Executive Board of the European Central Bank (ECB), stated in his address to the European Parliament that the ECB intends to remain at the forefront of discussions concerning the nature of money in the digital world, including the exploration of the desirability and feasibility of establishing a central bank digital currency …
ECB Plans to Lead CBDC Exploration to Unleash Global Power of the Euro Read More »
The Monetary Authority of Singapore (MAS) introduced Project Ubin in November 2016, along with its partnership with R3, to build a proof-of-concept project to conduct inter-bank payments using blockchain. Project Ubin, spearheaded by the MAS, is a project exploring the use of blockchain and distributed ledger technology (DLT) for clearing and settlement of payments and securities. …
The Bank of Japan (BoJ) has just announced that it will begin experimenting with a Digital Yen, its own Central Bank Digital Currency (CBDC) to test its technical application and feasibility. Although no timetable for Japan’s CBDC experimentation has been revealed, this is the first announcement by the BoJ that it will commence a Proof …
