Visa has announced its partnership with the Brazilian central bank to explore blockchain technology-powered usage cases for the prototype digital real. The project aims to design the coins with a view to helping local businesses and is set to launch later this year. The financial platform, created in collaboration with Agrotoken, Microsoft, and Sinqia, is
Blockchain
Artificial Intelligence (AI) is rapidly developing and has created a buzz in the news lately with new technology being introduced. However, with great power comes great challenges. There are legal issues regarding AI content that need to be addressed before it can be effectively used in the crypto sector. The European Union (EU) is drafting
CoinMarketCap, a leading cryptocurrency price tracking website, has announced the launch of a new reality TV show called “Killer Whales.” The show is set to air in 2022 and will feature contestants pitching their crypto and NFT projects to a panel of industry expert judges, referred to as “Whales.” The show aims to entertain and
According to the French tax body, taxpayers in France declared a total of $442 million in profits from crypto trading in the latest tax year. While this figure is considered substantial, it falls short of the estimated gains made in 2021 by a factor of 10. The tax body’s claim is based on the number
JPMorgan, one of Wall Street’s leading investment banks, is continuing to push for the tokenization of traditional financial assets despite last year’s market downturn. According to Tyrone Lobban, the head of JPMorgan’s digital asset and tokenization platform Onyx, the bank has already processed nearly $700 billion in short-term loans on Onyx, with more to come.
The Securities Commission of The Bahamas has released a new draft regulation in response to the collapse of the Bahamas-based crypto exchange FTX. The Digital Assets and Registered Exchanges (DARE) Bill 2023 is an update to the original DARE Act of 2020 and aims to strengthen the regulatory framework for digital asset businesses. Under the
Ukraine is planning to introduce new crypto regulations that are inspired by EU Markets in Crypto-Assets (MiCA) regulations. The country’s National Commission on Securities and the Stock Market, the Ministry of Digital Finance, the National Bank of Ukraine, and MPs are currently working together to develop a plan. The Verkhovna Rada’s Financial Committee is also
Andreessen Horowitz, also known as a16z, has urged regulators in the UK to adopt a more nuanced approach towards crypto regulations. In a response letter to the UK Treasury’s Future Financial Services Regulatory Regime for Cryptoassets consultation, the venture capital firm argued that regulators must distinguish between risky centralized crypto systems and less risky decentralized
While Western tech giants like Meta are investing in virtual worlds for consumers in the metaverse, China is taking a different approach. The Chinese government is backing strategic technologies and setting rules to govern cyberspace. Rather than creating a virtual world for socializing, China’s metaverse aims to put technology to work in supporting the economy.
Binance, a major cryptocurrency exchange, is preparing to launch “Binance Japan” next month by rebranding the Japanese exchange it acquired last year. In November 2020, Binance purchased shares in Sakura Exchange BitCoin (SEBC) trading platform, which has now been renamed under the Binance brand, according to an official SEBC notice and Japanese media outlet CoinPost.