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The IoTeX Foundation will examine all DApp developers thoroughly to ensure that they effectively enable machine financialization. IoTeX, a blockchain platform focused on the Internet of Things (IoT), has announced the launch of a $100 million sustainable  ecosystem fund. The new fund will back over 1,000 decentralized machine economy startups developing use cases for connecting …

$100M fund aims to support the growth of decentralized machine economy Read More »

Malaysia’s central bank recently completed a proof-of-concept for a CBDC with three other nations and may consider developing its own  cross-border payment system using the blockchain. Malaysia has joined the growing cadre of nations that are exploring the value of researching and developing a central bank digital currency (CBDC). Malaysia’s central bank, Bank Negara Malaysia, stated to …

Malaysia’s central bank actively assessing CBDC options Read More »

Janet Yellen may be open to having United States regulators consider a digital currency, but she still seems to have strong concerns about Bitcoin (BTC).  In an interview for The New York Times’ DealBook DC Policy Project held on Monday, Yellen said it makes sense for the Federal Reserve to look into a digital dollar. Speaking to …

US treasury secretary floats idea of digital dollar maintained by the Fed Read More »

According to a report by Arab News on Tuesday, clients of Dubai government-owned licensing firm Kiklabb can now pay for visa fees and trade licenses via cryptocurrencies. The supported crypto payment options are Bitcoin (BTC), Ether (ETH) and Tether (USDT). Commenting on the move, Kiklabb CEO Tasawar Ulhaq said that the decision was in line with the …

Dubai-based licensing company adopts cryptocurrency payments Read More »

U.S. President Joe Biden’s pick for Treasury Secretary Janet Yellen may see more benefits to cryptocurrency than her previous testimony indicated.  After a virtual hearing of the U.S. Senate Finance Committee held on Tuesday, Yellen hit the headlines for her answer to Democratic Senator Maggie Hassan’s question about how she would respond to “emerging financial …

Treasury Secretary nominee says crypto has potential to improve the financial system Read More »

China’s efforts to develop a centrally issued digital currency took a leap forward on Sunday as the state-owned Agricultural Bank of China launched the first digital yuan ATMs. Customers at select branches within the Shenzen region have reportedly begun spending and converting the digital yuan they received as part of China’s “red envelope” lottery, which saw $3 million …

State-owned Chinese bank rolls out ATMs for digital yuan Read More »

Digital-asset regulation has been a hot topic in 2020 and shows no signs of cooling. A recent G-7 meeting concluded that the sector faces an ongoing need for regulation. In addition to talking about COVID-19 and economic issues, the group “also discussed ongoing responses to the evolving landscape of crypto assets and other digital assets …

World governments agree on importance of crypto regulation at G-7 meeting Read More »

China’s central bank and the Hong Kong Monetary Authority, or HKMA, are in the preliminary stages of piloting the digital yuan for cross-border payments — underscoring another key development in the rollout of a central bank digital currency, or CBDC. In a media release that appeared on the HKMA website on Friday, chief executive Eddie …

China’s central bank plans digital yuan pilot for payments to Hong Kong Read More »

Japan’s three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen. The group consists of banks, various Japanese brokerages, utility and telecom firms and retailers, according to a Reuters report published on Nov. 19. For the purposes of the experiment, the private banks …

Japan’s megabanks to lead experiment with digital yen Read More »

The Treasury Department of the United Kingdom has revealed it is drafting proposals to regulate private stablecoins while also researching central bank digital currencies, or CBDCs, as an alternative to cash. In an announcement published on Nov. 9, U.K. Treasury Chancellor Rishi Sunak noted the forthcoming regulatory proposals alongside other goals for the country’s financial services industry — including a …

UK drafting stablecoin regulations and researching a CBDC Read More »