Wednesday 28 September 2022
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Official explains why China CBDC should not be as anonymous as cash

China’s central bank digital currency (CBDC) should not be as anonymous as cash, the head of the People’s Bank of China (PBoC) digital currency institute declared. Digital yuan project lead Mu Changchun spoke of China’s CBDC project at the 5th Digital China Construction Summit on Monday, local financial publication Sina Finance reported. Since debuting the digital yuan in 2020, the Chinese central bank has never targeted complete anonymity for the project, Mu said at the event. Instead, PBoC has been working to enable only limited anonymity in compliance with global Anti-Money Laundering (AML) regulations, the official stated. The Chinese authorities should be able to access CBDC data on people suspected of crimes, Mu noted. According to the official, partial anonymity is an important feature of the digital yuan project though, as it guarantees transaction privacy and personal information protection. However, a completely anonymous CBDC would interfere with the prevention of crimes li..

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SEC Philippines to investigate Binance over alleged illegal operations

Philippines’ think tank Infrawatch PH continues efforts to ban Binance in the country by asking more regulators to investigate the cryptocurrency exchange over alleged illegal operations. Infrawatch PH on Monday filed a twelve-page complaint calling on the Philippines’ Securities and Exchange Commission (SEC) to crack down on Binance’s activities in the Philippines. According to the think tank, Binance has been operating in the Philippines for several years without approval by appropriate authorities. Terry Ridon, the convenor for Infrawatch PH, claimed that Binance has no office in Manila and only uses “third-party companies that employ Filipinos for its technical and customer support services.” He also referred to former finance secretary Carlos Dominguez who publicly declared last month that Binance had no records with either the SEC or the Bangko Sentral ng Pilipinas (BSP). “The SEC has served the public well by banning unscrupulous online lending services. It should similarly do t..

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Board urges Bank of Central African States to introduce common digital currency: Report

The Bank of Central African States, or Banque des États de l'Afrique, which serves Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon and the Republic of the Congo, could be closer to releasing a central bank digital currency (CBDC) reportedly at the urging of its board. According to a Friday report from Bloomberg, the board sent an email calling for the regional bank to introduce a digital currency in an effort to modernize payment structures and promote regional financial inclusion. The Central African Republic, or CAR, passed legislation adopting Bitcoin (BTC) as legal tender in the country in April but has not recognized a central bank digital currency. Nigeria’s central bank was one of the first in the region to launch a CBDC called the eNaira in October 2021, while South Africa’s Reserve Bank continues to explore the possible use of a CBDC through its Project Khokha initiative. The Bank of Central African States also criticized the CAR for accepting BTC a..

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FTX proposes a way to give Voyager Digital clients some of their digital assets back early

FTX and Alameda Ventures want to offer Voyager Digital customers a chance to start a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy claims, FTX announced in a statement Friday. To accomplish this, Alameda Ventures said it would like to buy all Voyager digital assets and digital asset loans, with the exception of loans to Three Arrows Capital (3AC). A letter from an FTX and Alameda Ventures legal representative explained that Voyager Digital customers who did not choose to create an FTX account would retain their rights in the bankruptcy proceedings, but would not receive early reimbursement. Accepting the offer would protect Voyager Digital clients from the depreciation of the crypto assets they currently do not have access to, as reimbursement for their digital assets will be based on their value on July 5. After setting up an FX account, Voyager Digital clients would be able to continue trading their crypto or cash out t..

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Play-to-own, NFTs and Web3: Crypto Raiders drops knowledge with NFT Steez

Blockchain gaming and the play-to-earn model were all the rage in 2021, but over time, the model declined as a few kinks were revealed and the wider nonfungible token (NFT) and crypto market hit a few speed bumps. It’s safe to say, the sector is “down, but not out” and it’s entirely possible that blockchain gaming could see another 2021-style surge once the market regains its momentum. On Friday, NFT Steez, a bi-weekly Twitter Space hosted by Alyssa Exposito and Ray Salmond, met with the founders of Crypto Raiders to discuss the state of blockchain gaming, and the future of play-to-earn-based projects. According to the founders, Crypto Raiders is an NFT-based dungeon crawler and in the episode, each agreed that the current blockchain gaming landscape should focus on sustainability and “fun” first. Can the play-and-earn model work in Web3 gaming? During the interview founder Nick Kreupner spoke about the adoption of “hybrid-models” for play-and-earn gaming and Kreupner stated that the ..

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Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA

The mood across the cryptocurrency ecosystem is noticeably brighter on July 22 after a week of gains helped traders put the events of the past two months behind them and look toward a positive future. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at $23,000 over the past couple of days and continues to hold slightly above its 200-week moving average (MA), which has been a reliable indicator of bear market bottoms in the past. BTC/USDT 1-day chart. Source: TradingViewAs the debate about the market's direction continues to rage, here are the important levels to watch heading into the weekend, according to analysts. Bitcoin needs weekly close above $22,800The significance of Bitcoin trading above its 200-week MA was noted by independent market analyst Michaël van de Poppe, who posted the following chart highlighting the major support and resistance zones: BTC/USDT 1-hour chart. Source: TwitterAccording ..

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