Cointelegraph By Derek Andersen
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Project mBridge reveals details of its workings ahead of MVP, commercial debut
Cointelegraph By Derek Andersen - 0
The Bank for International Settlements (BIS) released a colorful and fact-filled Project mBridge update on Oct. 31. The publication combines technical and promotional discussions in a shift of tone as the project prepares to become a minimum viable project for commercial launch next year.The update gathers a significant...
GAO finds controversial SEC guidance is subject to congressional oversight
Cointelegraph By Derek Andersen - 0
United States Senator Cynthia Lummis has scored another one for crypto with a Government Accountability Office (GAO) decision issued on Oct. 31. The GAO found that Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 should be subject to congressional review. That bulletin, issued in March 2022, has...
Terraform co-founder Shin blames protocol for collapse during trial in S. Korea
Cointelegraph By Derek Andersen - 0
The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South Korea on Oct. 30, according to local news reports. Shin is accused of defrauding investors. Also at issue was whether...
Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation
Cointelegraph By Derek Andersen - 0
The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, Vice Chair Michael Barr said on Oct. 27. He also touched on stablecoins at the Economics of Payments XII Conference, where his English colleague Sir Jon Cunliffe made his last...
Gemini sues Genesis over GBTC shares used as Earn collateral, now worth $1.6B
Cointelegraph By Derek Andersen - 0
Cryptocurrency exchange Gemini filed an adversary proceeding against bankrupt crypto lender Genesis Global Holdco in the Southern District of New York Bankruptcy Court on Oct. 27. At issue is the fate of 62,086,586 shares of Grayscale Bitcoin Trust (GBTC). They were used as collateral to secure loans made by...
Vodafone, Sumitomo team up with Chainlink to explore trade documents network
Cointelegraph By Derek Andersen - 0
Vodafone Digital Asset Broker (DAB) has joined the Chainlink network as a node operator after completing a proof-of-concept with Japanese trading and investment company Sumitomo for exchanging trade documents across platforms. The companies hope to improve document transfer and processing of financial transactions in the $32-trillion global trade...
Chinese digital yuan CBDC used for first time to settle cross-border oil deal
Cointelegraph By Derek Andersen - 0
The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19. The transaction was a response to a call by the Shanghai Municipal Party Committee...
Lower-middle income countries lead in crypto adoption, but not volume: Chainalysis
Cointelegraph By Derek Andersen - 0
India leads the world in crypto adoption, followed by Nigeria and Vietnam, according to a new Chainalysis report. Nonetheless, North America accounts for nearly a quarter of all value received by cryptocurrency exchanges, with the United States leading by far.To calculate adoption, Chainalysis used web traffic data from...
Singapore court authorizes freeze order attached to wallets as soulbound NFT
Cointelegraph By Derek Andersen - 0
The Singapore High Court has allowed financial investigation firm Intelligent Sanctuary (iSanctuary) to attach nonfungible tokens (NFTs) containing a legal document to cold wallets associated with a hack, according to United Kingdom-based iSanctuary and local press accounts.A court-issued worldwide freeze order was tokenized as soulbound NFTs and attached...
Binance Visa debit card services will close down in the European Economic Area (EEA) on December 20, according to an announcement by the cryptocurrency exchange on Oct. 20. Binance accounts will be unaffected.According to a Binance letter to customers posted online, the Binance card issuer, Finansinės paslaugos “Contis” —...