The biggest news in the cryptoverse for Sept. 2 includes CZ saying that Binance is not incorporated in China, Cardano’s Vasil upgrade scheduled for Sept. 22 and U.S. regulators proposing amendments for large hedge fund reporting. CryptoSlate Top Stories CZ denies claims that Binance is in ‘the pocket of the Chinese government’ Changpeng ‘CZ’ Zhao…
The biggest news in the cryptosphere for Aug. 26 includes Federal Reserve Chairman Jerome Powell’s indication that recovery from the burgeoning inflation levels is still far from being done, and another stablecoin losing its peg from the U.S. Dollar as the bear market continues. CryptoSlate Top Stories Federal Reserve Chair urges everyone to ‘factor inflation…
The development of Central Bank Digital Currencies (CBDCs) is picking up pace but Coinsillium CEO Eddy Travia is not concerned about their impact as he thinks they fail to give users an edge over existing private crypto options. Coinsillium is an open finance venture operator specializing in blockchain technology, especially non-fungible tokens, which the firm…
Nigeria’s digital currency eNaira has reportedly reached 270,000 users as recorded transactions hits N4 billion (approx. $10 million) since its launch in October 2021. The CBN Governor Godwin Emefiele highlighted the milestones achieved by the digital currency during an eNaira hackthon held on August 18. Emefiele said: “Since the launch of this great initiative, the…
The United Nations Conference on Trade and Development (UNCTD) issued policy briefings and recommendations to discourage crypto adoption in developing countries. The UNCTD released a brief on Aug. 10, in which it argued that unregulated crypto adoption possess a threat to developing countries. It, however, acknowledged crypto’s role in facilitating remittances and as a hedge…
Central African Republic’s Sango coin which started selling on Monday, June 25, has recorded only $1.09 million in sales after 24 hours of the offering. The government of CAR launched its digital currency with a projection to raise about $1 billion from its sales within the next year. Of the initial $21 million worth of…
A senior Chinese central bank official, Mu Changchun, said the country will respect digital yuan users’ privacy and protect their personal information, Reuters reported on July 25. According to Changchun, the digital yuan has a limited anonymity feature that allows for reasonable anonymous transactions. He said using the digital yuan “prevents and combats illegal activities…
Nigerian banks are reluctant to promote Nigeria’s low-cost central bank digital currency, e-Naira, due to concerns of losing revenue. E-Naira offers a commission-free alternative to traditional money transfers. However, only 700,000 users have created an e-Naira wallet since the currency launched in October 2021. This number is incredibly low, given that Nigeria has nearly 55…
Cryptocurrencies issued by private companies could be better than central bank digital currencies (CBDCs) if the firms are regulated appropriately, Phillip Lowe, governor of the Australian central bank, said on July 17, according to a Reuters report. Lowe’s comments were part of a panel discussion at the G20 financial officials meeting in Indonesia. Lowe said:…
Bank of England (BoE) Deputy Governor Jon Cunliffe said the digital pound would likely operate as an account-managed instrument at the “trade level,” instead of a direct to retail user currency, Bloomberg News reported, Cunliffe — tasked with overseeing the U.K.’s CBDC project — told a panel that policymakers are considering ways to make the…