Author: CRYPTO WORLD

Bank of China, one of China’s largest state-owned banks, is testing a new offline payment method linked to SIM cards for digital yuan, or the e-CNY, the country’s in trial central bank digital currency (CBDC). Bank of China has partnered with telecommunication operators China Telecom and China Unicom to start testing the new feature on Tuesday, the bank said Monday in a social media post. The bank intends to allow users to make payments with their phones by connecting its e-CNY app with what it calls “super SIM cards” that…

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The source code for the Brazilian CBDC in testing was analyzed by blockchain dev Pedro Magalhães. Brazil has been developing a CBDC for some time now. If all goes according to plan, the digital Real will be launched sometime in 2024. Once launched, it would support retail payments for anyone inclined to use it, backing up the payment with funds in the users’ bank accounts. Planning Ahead The Brazilian CBDC would not, however, interfere with other payment methods common in Brazil, such as Pix. According to a spokesman for the…

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Cryptocurrency exchange Binance has reportedly withdrawn its application in Austria and is now focusing on achieving MiCA compliance. Binance is fighting battles on multiple fronts in 2023, as it tries to fend off the US Securities and Exchange Commission while pulling out from several markets in Europe. Specifically, the cryptocurrency exchange has left the Netherlands after it failed to secure a licence from the Dutch central bank, and it also faced an investigation in France concerning its anti-money laundering procedures. Now, reports from Finance Forward have surfaced that Binance is…

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Our cherished digital assets may not be as innocent as you think!” This line could easily be mistaken for sensationalist tabloid fodder, but unfortunately for crypto enthusiasts around the globe, it has become a startling reality. In a move that has left the world of digital currencies in a state of shock and uncertainty, the US Securities and Exchange Commission (SEC) has officially classified more than 50 popular cryptocurrency tokens – including the likes of Cardano ($ADA), Terra ($LUNA), and Tron ($TRX) – as securities. Let’s take a look at…

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Global financial services company JPMorgan continues exploring the benefits of blockchain, deploying the technology to eliminate some restraints of traditional finance. The banking giant has partnered with six major Indian banks to introduce a blockchain-based platform enabling interbank settlement of U.S. dollar transactions, Bloomberg reported on June 5. The participating banks include HDFC Bank, ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and JPMorgan’s own banking unit at Gujarat International Finance Tec-City, or GIFT City. The blockchain project aims to expand the capacity of the existing settlement system, JPMorgan’s senior…

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In a brief and straightforward message, crypto exchange Gemini denied rumors, saying its banking relationship with JPMorgan remains intact. Crypto exchange Gemini took to Twitter on March 8 to deny rumors about its banking relationship with United States financial conglomerate JPMorgan being terminated. In a brief and straightforward message, Gemini stated that “despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan.” The comments came in response to a previous report that claimed without naming a source that the banking ties between the two companies were ending. The…

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The Bitcoin price is under heavy pressure due to fears of “sticky” inflation and yesterday’s ultra-hawkish comments from U.S. Federal Reserve (Fed) chairman Jerome Powell. At press time, BTC was trading just above $22,000 and continued to show no strength yet. At this time comes news that the US government is in the process of selling off some of its seized Bitcoin. Blockchain security firm PeckShield first reported that addresses associated with the US government transferred 49,000 BTC worth $1.08 billion today, which were seized from the Silk Road hacker.…

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Ethereum creator Vitalik Buterin is a Web3 luminary, so word today of an NFT collection featuring his apparent stamp of approval has set Crypto Twitter ablaze—and led to surging sales of the NFTs to the tune of several million dollars’ worth. The NFT collection, which celebrates Ethereum creator Vitalik Buterin’s contributions to a popular Web3 funding model, was created by Metalabel in collaboration with Web3 funding platform Gitcoin. The open edition mint launched on March 1, but NFT traders may have missed the memo before today when secondary sales suddenly…

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Unstoppable Domains, the decentralized domain provider, has announced that its users can now purchase its domain names using Shiba Inu (SHIB), the cryptocurrency that has gained significant popularity since its launch in August 2020. Unstoppable Domains has been consistently expanding the number of purchasing options by adding a wider range of cryptocurrencies. The company has already been accepting popular virtual currencies such as Bitcoin, Ethereum, and Litecoin. In early March, it added support for Dogecoin (DOGE). Unstoppable Domains is a technology that provides a decentralized name service to users for…

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