Chinese Banks Bolster Digital Yuan Resources Prior to CBDC Debut

Major Chinese banks are beefing up their digital yuan capacities ahead of the imminent launch of the nation’s central bank digital currency (CBDC). Per the Securities Daily (via East Money), a number of the commercial banks that have already begun working with the central People’s Bank of China (PBoC) on pilots for the digital CNY are building up infrastructure that

XRP to Resume Trading on Japanese Exchange, Ripple-SEC War Continues

Ripple has scored a major coup in Japan – a nation where it is one of the most popular altcoins – with the e-commerce giant Rakuten’s exchange announcing that it will resume trading the XRP token. In an official release, Rakuten Wallet stated that it would begin XRP trading on September 8. The company “temporarily” suspended XRP trading on Christmas Eve last year

Surveys: Most of El Salvador Public Is Opposed to Bitcoin Adoption Law

Source: A video screenshot, Youtube, La Prensa Gráfica Noticias de El Salvador Two new surveys have found that the overwhelming majority of Salvadorians are opposed to the bitcoin (BTC) adoption law, which is due to promulgate on September 7 after it was published in the Official Gazette earlier this week. The Salvadorian media, which is generally opposed in equal measure to both the bitcoin

Japan’s SBI to Merge Its Crypto Exchanges a Year After Rival Takeover

SBI’s chief executive Yoshitaka Kitao. The Japanese financial giant SBI is set to merge its crypto exchanges, TaoTao and SBI VC Trade – a move that will create a new Asian heavyweight exchange that could challenge market leaders like bitFlyer. SBI, traditionally, has focused on its banking and securities business arms. But in recent years, it has embraced crypto with almost

BIS Teases More CBDC Interoperability Progress in New Four-nation Pilot

Source: Adobe/Сергей Шиманович The Bank for International Settlements (BIS) is set to step up its central bank digital currency (CBDC) pilot program in a cross-border initiative aimed at testing inter-central bank settlements using multiple CBDCs. The plan is the brainchild of the BIS’s Innovation Hub, which will team up with the four central banks in the Asia-Oceania region,

SEC Hits BitConnect Founders, Promoters with Fresh Fraud Wrap

The US Securities and Exchange Commission (SEC) has dredged up the ghost of the discredited crypto scam BitConnect, and will look to prosecute its alleged masterminds for selling fraudulent and unregistered securities – amounting to a total of USD 2bn. The SEC issued a notice explaining that it had “filed an action against BitConnect, an online crypto lending platform,

Colombian Bank Begins Second Phase of its Crypto Pilot with Exchanges

Source: A screenshot, Instagram/bancodebogota Colombia’s oldest commercial bank, the Banco de Bogotá, has begun the next stage of a crypto pilot that will allow 5,000 of its customers to make and receive payments using tokens hosted on the platforms of two major crypto exchanges. As reported, the bank has partnered with the trading platforms Bitso and Buda as part of a crypto sandbox project

Japanese Business Giants Ready NFT, Blockchain Development Moves

Rakuten CEO Hiroshi Mikitani. Some of Japan’s biggest crypto players are gearing up to make new non-fungible token (NFT) and blockchain moves – with Rakuten, Line and Coincheck preparing new projects. Rakuten, which operates one of the country’s biggest e-commerce platforms, as well an e-pay service, a crypto exchange and content streaming platforms, has announced that it

Coinbase Tries to Claw Back ‘Trust’ with Bitcoin Handouts after 2FA Gaffe

The American crypto exchange giant Coinbase has vowed to win back the “trust” of the customers it spooked with a blunder that saw it send “roughly 125,000” people “erroneous notifications” about changes made to the security settings on their accounts. And the firm has been hoping to quell disquiet by handing “a small number” of its affected customers with

El Salvador: Government Supporters Dismiss Bitcoin ‘Protests’

Source: A video screenshot, Reuters With just days to go until bitcoin (BTC) becomes legal tender in El Salvador, resistance to crypto adoption is continuing – while pro-BTC advocates are dismissing opposition to adoption and looking forward to the dawn of a new financial paradigm. Reuters (via Yahoo) aired images of street protests attended by “Retirees, veterans, disability pensioners, and

Bitcoin, Crypto Represent Hope and Despair Amid Afghanistan Carnage

As the bloodbath in Afghanistan continues almost unabated following the fall of Kabul, crypto advocates both inside the country and out are beginning to wonder if tokens like bitcoin (BTC) could help them fight back against the violent and oppressive rule of the Taliban. The world has looked on in horror in the past few weeks as events unfold with brutal alacrity.

Russian Miner Has His Video Cards Stolen – By Balcony-Scaling Neighbor

Source: AdobeStock / Prostock-studio A Russian miner was robbed of his video cards by his next-door neighbor – who police say climbed over the man’s balcony to steal his hardware. According to the Kursk branch of the Office of the Ministry of Internal Affairs and the local media outlet Kurskie Izvestia, the flat belongs to a Kursk resident who had moved out of the property after converting it

South Korean Regulator Creates New Crypto Exchange Policing Unit

The South Korean financial regulator is set to appoint a number of new crypto officials, and forms a new crypto department. But its probable new chief has reiterated assertions that there will be no stay of execution for scores of crypto exchanges that could be forced to close as a result of its actions. Per News1 and Newsis, the Financial Intelligence Unit

Spanish Crypto Exchanges to Discover Their Fate by October

The Spanish central bank will roll out its new registration process for crypto exchanges operating in the nation by October. Exchanges have been in limbo since April this year, when parliament passed a new law aimed at tackling the spread of money laundering and terrorist financing. The law states that the central Bank of Spain must create a central registry for crypto

Asian Lonely Hearts Falling Victim to Bitcoin, Tether Scammers

More Asian lonely hearts are reportedly being tricked out of their hard-earned money – and tokens like bitcoin (BTC) and tether (USDT) – by a growing number of scammers who prey on the unsuspecting users of dating apps. Several reports from the region have recounted how romance-seeking smartphone users have been sucked into traps by unscrupulous individuals

Facebook Eyes NFT Market, Warns of Chinese E-Pay Dominance

Facebook could be set to take the plunge into the world of non-fungible tokens (NFTs) – and has also claimed that America is losing the “digital payments” race to China. Facebook’s David Marcus, the head of the social media giant’s blockchain operations and the architect of its Diem stablecoin plans, claimed that the firm was is in a “good

USD ‘Going Down’ Says Crypto-Skeptic Billionaire Who Called BTC a ‘Lie’

Jeffrey Gundlach. Source: A video screenshot, Youtube/Real Vision Finance A prominent Wall Street billionaire known as the Bond King, a man who once called himself a “long-term dollar bear,” has launched a scathing attack on the USD. The DoubleLine Capital boss Jeffrey Gundlach opined that the greenback was living on borrowed time, claiming that his “number one conviction” was that “the

S Korean Presidential Campaign Team Member Jailed for Shilling Scamcoin

A former member of South Korean President Moon Jae-in’s 2017 electoral campaign team and a leading academic has been handed a two-year jail sentence for their part in a crypto scam that amassed over USD 18,200. Per Yonhap and Fn News, the individual – undimmed by the courts and the media for legal reasons – is 65 years old, and was reportedly part of the campaign

A Crypto ‘Coin Run’ Could Be Brewing in South Korea

A leading South Korean media outlet and industry experts have warned that a “coin run” could take place next month as the likelihood of a mass of crypto exchange closures increases. In a video report, the national broadcaster KBS reported that a glut of crypto liquidations could be on the cards in the coming weeks as scores of exchanges shut up shop. The South

South Korean CBDC Pilot is Now Underway and Samsung is Onboard

The South Korean central bank, the Bank of Korea (BOK), has officially begun testing its prototype of digital KRW. The bank has decided to carry out a two-stage central bank digital currency (CBDC) pilot, with the first stage running from this week until June next year, tasked with testing focus on tech feasibility and utility. The BOK will then follow this up

Watch: Spanish Police Bust a Suspected 111-rig Crypto Mining ‘Farm’

Source: Screenshot, Policía Nacional, Twitter Spanish police have captured a raid on a suspected illegal underground crypto mining facility on video – breaking into a private house that was allegedly housing over 100 functioning mining rigs. In a video shared by the National Police, officers were shown battering down a door and piling into a property in a residential area of Toledo’s Yeles

Upbit is First South Korean Exchange to Apply for Operating Permit

Upbit has become the first South Korean crypto exchange to officially apply for an operating license – with the nation’s financial regulator confident that “at least one or two” others will follow suit before the end of this month. The move is a major statement from the crypto sector, which had reeled last week from news that all of the exchanges