Ad Former Coinbase CTO Balaji Srinivasan warned people to “GET TO BITCOIN BEFORE DIGITAL LOCKDOWN.” The comment came in a lengthy tweet about banking system weaknesses and the soon-to-be-released FedNow payment network. Srinivasan described a hypothetical situation where individuals have “Bitcoin independence” or are confined to a CBDC system. He compared the latter to a…
According to local media reports, the Russian State Duma approved draft laws establishing a system to issue and regulate central bank digital currencies (CBDC) in a first reading on March 16. Additionally, the Parliament approved the first reading of a bill that makes changes to the Russian Civil Code and defines the digital ruble as…
Increasingly, Chinese toll booths are enabling drivers to pay highway tolls using the country’s CBDC. The province announced that it has established e-CNY “tax payment points” in unmanned “electronic tax bureaus” and banks across the area. It disclosed that individuals and businesses had utilized these payment options and others to pay $254 million in taxes…
Ad Global cryptocurrency adoption remains on course to reach approximately 750 million users by the end of 2023, according to Triple-A. Per the report, the top five countries by the estimated number of holders are the U.S., India, Pakistan, Nigeria, and Vietnam at 46 million, 27 million, 26 million, 22 million, and 20 million, respectively….
Ad The Bank for International Settlements (BIS) has successfully completed a pilot retail central bank digital currency (CBDC) pilot called Project Icebreaker, according to a March 6 press release. The BIS Innovation Hub Nordic Centre conducted the project in collaboration with the central banks of Israel, Norway, and Sweden. The regulator said unlike domestic payments…
Ad The Reserve Bank of Australia (RBA) is looking to establish use cases for a central bank digital currency (CBDC) and determine the economic benefits it can have through a new research project over the coming months. The project will be conducted in collaboration with the Digital Finance Cooperative Research Centre (DFCRC) and involve multiple…
Ad “We have made a lot of progress on financial inclusion in the last number of years […] and a CBDC could have huge benefits for the economy and society,” said Sir Jon Cunliffe, Deputy Governor for Financial Stability at Bank of England, at a Feb. 28 Treasury Committee on the crypto asset industry. Cunliffe…
Ad Bank of England official Ben Broadbent has expressed optimism that the proposed UK central bank digital currency “digital pound,” could provide lucrative opportunities for businesses in the region. Earlier on Feb. 7, the Bank of England and the U.K. Treasury announced plans to explore potential use cases of a digital pound- a government-backed alternative…
Ad Coinbase’s Base is a crucial aspect of World Economic Forum (WEF) plans to bring about Central Bank Digital Currency (CBDC) tech, said the host of the Proof of Decentralization Podcast, Chris Blec. On Feb. 23, Coinbase announced the launch of its Base product. The company described the product as an Ethereum layer 2 enabling…
Latest Report The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins The SEC’s notice to Paxos to stop minting BUSD could have longstanding implications on the crypto market. CryptoSlate’s new report explores the recent and potential consequences of enforcement action against Paxos. Andjela Radmilac · 4…