The Bank for International Settlements 2024 program features six new projects exploring the issues of cybersecurity, fighting financial crime, CBDCs and green finance. The Bank for International Settlements (BIS) Innovation Hub will proceed to the second phase of its central bank digital currency (CBDC) privacy testing and launch a blockchain-based tokenization project in 2024. On …
Sui Network’s ability to handle high transaction volumes while maintaining low fees has attracted developers and users alike, and it is now home to one of the fastest-growing DeFi apps. Scallop, a DeFi lending protocol built on Sui, is leveraging the network’s strengths to offer a user-friendly platform for borrowing and lending digital assets. As …
A user-friendly lending protocol on the Sui blockchain drives DeFi adoption 閱讀全文 »
What are operational angles and areas that CBDCs could disrupt the DeFi Industry? Let’s find out. Table of Contents After nearly a decade on the sidelines, governments, led by their apex banks, are now preparing to plunge into the blockchain space with central bank-issued digital currencies. From barter to banknotes and now to Bitcoin, humanity’s …
As global anxieties intensify over protracted US interest rates and mounting worldwide tensions, Asia’s central banks craft groundbreaking strategies to shield their currencies. The challenge arises due to Asian benchmark rates generally trailing those of their emerging counterparts, resulting in a broader disparity with the US. Adapting to Global Pressures India, sensing the shifting tides, plans to …
ASIA’S CURRENCY GAME: CENTRAL BANKS’ INNOVATIVE RESERVE DEFENSE 閱讀全文 »
TLDR Malta’s Financial Services Authority (MFSA) has initiated significant amendments to its existing crypto guidelines to align with the European Union’s upcoming Markets in Crypto-Assets (MiCA) regulations. The changes, open for public consultation until September 29, aim to facilitate a smooth transition for Virtual Financial Assets (VFA) providers when MiCA takes effect in December 2024. Streamlining …
MALTA REVAMPS CRYPTO REGULATIONS IN ANTICIPATION OF EU’S MICA LAWS 閱讀全文 »
TLDR Citi Treasury and Trade Solutions (TTS) has announced the launch of Citi Token Services, a blockchain-based platform designed to enhance cash management and trade finance for institutional clients. The new service leverages blockchain technology and smart contracts to integrate tokenized deposits into Citi’s global network, offering a more efficient alternative to traditional bank guarantees and letters of …
CITI UNVEILS BLOCKCHAIN-BASED TOKEN SERVICES TO REVOLUTIONIZE INSTITUTIONAL FINANCE 閱讀全文 »
CONTENT 1. Closing the income tax loophole 2. Thailand’s regulatory approach to cryptocurrency TLDR The Revenue Department of Thailand is set to implement significant changes to its tax regulations, targeting individuals residing in the country for more than 180 days. Effective January 1, 2024, the new rule will require these residents to declare and pay personal income …
THAILAND’S NEW TAX REGULATIONS IMPACTING RESIDENTS’ OVERSEAS INCOME INCLUDING CRYPTO GAINS 閱讀全文 »
TLDR As discussions continue among Brazilian lawmakers regarding a bill aimed at offering robust protection to a significant portion of debtors’ savings assets, a separate initiative is seeking to include cryptocurrency holdings within the scope of this protective legislation. Expanding asset protection bill to include cryptocurrency The proposed bill, numbered 4.420/2021 and authored by Deputy …
BRAZILIAN LAWMAKERS CONSIDER ADDING CRYPTO TO ASSET PROTECTION BILL 閱讀全文 »
CONTENT 1. Improbable’s role in the Major League Baseball metaverse game 2. The digital realm and its growing role in sports TLDR In a groundbreaking move, Major League Baseball (MLB) will treat its fans to an extraordinary experience as they will watch a real-world MLB game unfold in 3D within the metaverse. This technological marvel will be unveiled …
CONTENT TLDR In a significant move, PayPal’s stablecoin, PYUSD, debuted on Venmo. Initially, a select group of users will have access to this feature. However, it will be available to the broader public in the coming weeks. This development allows Venmo users to purchase PYUSD using their balance. Moreover, they can transfer it to anyone …
PAYPAL’S PYUSD STABLECOIN DEBUTS ON VENMO, EXPANDS CRYPTO REACH 閱讀全文 »
