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Search Results for: digital currency

Governor of Florida Calls For Ban on Central Bank Digital Currency (CBDC)

Ron DeSantis, governor of Florida, is the latest Republican leader to speak out firmly against the use of CBDCs in the United States. The governor has publicly called for a prohibition on CBDCs inside the state, denouncing them as instruments of financial surveillance. DeSantis, in a speech posted on Twitter

March 21, 2023 2 mins read

Digital Currency Group Pauses Paying Out Quarterly Dividends

In an effort to preserve liquidity, venture capital company Digital Currency Group (DCG) has informed its shareholders that it would not be paying out its quarterly dividends until further notice. In a letter to shareholders dated January 17th. The company stated its intention on “strengthening our balance sheet by reducing

January 18, 2023 1 min read

Digital Currency Group (DCG) Shuts Downs Wealth Division Unit

Digital Currency Group (DCG), Genesis Global’s parent business, has chosen to shut down its wealth section hours after word of the layoffs spread. Genesis has been experiencing significant liquidity difficulty since the FTX crash, and this is the latest hint of concern. A spokesman for Digital Currency Group (DCG) stated

January 6, 2023 2 mins read

Hong Kong to Launch Central Bank Digital Currency (CBDC)

Consideration is given to local conditions when the regulations are drafted. The Monetary Authority is learning about stablecoin regulation. In response to the ever-increasing uncertainty in the cryptocurrency market, the widespread use of Central Bank Digital Currency (CBDC) has been on the rise. To counter this, Hong Kong has joined

October 20, 2022 2 mins read

Transactions in Chinese Digital Currency Exceed 100 Billion Yuan

The central bank stated that 360 million transactions were involved in the outlay. 5.6 million businesses across 15 provinces and municipalities now accept digital Yuan. The People’s Bank of China (PBOC) said on Wednesday that the number of transactions conducted using China’s central bank digital currency (CBDC) had surpassed 100

October 15, 2022 1 min read

Norway’s Central Bank Innovates in Developing Its Digital Currency on Ethereum

As per the official statement from the Norges Bank, the prototype infrastructure for the country’s central bank digital currency will be introduced on Ethereum. The bank introduces a new open source sandbox code on ETH technology to support interesting features.  In addition, the sandbox for the CBDC is now accessible

September 14, 2022 2 mins read

Russia’s Banking Giant ‘Sber’ To Execute First Digital Currency Deal Next Month

By mid-July, the bank plans to undertake its first DFA transaction. The VTB board member said they would establish a new platform to acquire digital rubles. Russian banking heavyweight Sber is gearing up to close its first digital currency transaction employing the bank’s unique platform for virtual assets. By mid-July,

June 15, 2022 2 mins read

Federal Reserve Exploring Central Bank Digital Currency (CBDC)

Experimentation and technical research have been used to investigate CBDC. The Federal Reserve says it is the safest method of expanding payment alternatives. CBDC, which is expected to be widely accessible, will become the Federal Reserve’s liability instead of ordinary currency, which will be the central bank’s responsibility. Currently, the

April 14, 2022 1 min read