International agencies report on tokenization to G20 officials
The Bank for International Settlements and the Financial Stability Board have similar views on tokenization — it could provide new benefits and familiar challenges. Go to Source
Digital Currency
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How Bitcoin’s Success Could Be Fueling Poverty for Latecomers and Non-Holders, ECB Economists Claim
Bitcoin’s rise is enriching early adopters at the expense of society, according to a paper by European Central Bank (ECB) economists. They argued that bitcoin’s speculative growth leads to wealth redistribution, where early investors gain while non-holders and latecomers are left poorer. Economists warn this dynamic could harm societal stability, deepening inequality and threatening democracy … Read more
Russia Pushes Digital Currency Plan for BRICS — Is This the End of Western Financial Dominance?
Russian President Vladimir Putin has unveiled a plan to introduce digital currencies as a key tool for investment for the BRICS alliance. This proposal aims to boost economic growth in developing nations, with a focus on minimizing inflationary risks. By involving BRICS members and other developing countries, Putin sees this initiative as a critical step … Read more
Crypto ATMs Coming to 45 New Locations Across Five US States
Cryptocurrency is becoming more accessible across the U.S. with the expansion of digital currency kiosks to 45 new locations in the Southwest and Midwest. Yesway, a fast-growing convenience store chain, is partnering with Coinflip to bring crypto ATMs to its customers, offering a seamless and secure way to buy and sell bitcoin and other digital … Read more
Drex Brazilian CBDC pilot will work on privacy, DeFi in phase 2
The Brazilian central bank has 13 participants for phase 2 so far, and it is willing to take on an unlimited number. Go to Source
BRICS Unified Currency Deemed Premature by Russian Official
Russia’s Deputy Foreign Minister has stated that discussions on a single currency for the BRICS economic bloc are premature due to differences in financial regulation among member nations. Instead, the focus remains on enhancing financial sovereignty and exploring national currencies for trade. Ryabkov highlighted ongoing efforts to strengthen the bloc’s economic independence, with authorities actively … Read more
ECB official proposes unified European ledger for digital assets
European Central Bank executive board member Piero Cipollone would like to see a sort of European union for digital assets. Go to Source
Swift to Pilot Digital Asset and Currency Transactions in 2025
Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges of disconnected platforms. The trials build on successful blockchain experiments, seeking … Read more
Banks to join SWIFT digital asset trials in 2025
SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its upcoming digital currency trials in 2025. Go to Source
Bitcoin Eyes a Positive Finish to September, Setting the Stage for ‘Uptober’
With two days remaining in September, bitcoin’s monthly gain stands at 11.11%, setting the stage for the widely anticipated ‘Uptober.’ Historically, October has been a strong month for bitcoin, delivering positive returns 81.82% of the time since 2013. ‘Uptober’ on the Horizon: Bitcoin Looks to Buck September’s Bearish History As of Saturday, Sept. 28, 2024, … Read more