US digital payment platform Square, founded by Twitter boss Jack Dorsey, announced Sunday it will acquire Australia's Afterpay Limited for $29 billion. Afterpay specializes in the "buy now, pay later" model that offers users staggered payments, often without extra charge. The fintech application is available in Australia, the United States...
NCR said it will acquire LibertyX, which provides cryptocurrency software and owns an ATM and kiosk network. According to NCR, the plan is to use LibertyX's technology along with its network. LibertyX's digital currency platform runs on ATMs, kiosks and point-of-sale systems via partnerships with independent operators. NCR makes ATM hardware and software as well as point-of-sale and kiosk systems.
StocksNew York Post
The price of bitcoin tumbled almost 5 percent Monday morning, dropping below $40,000 per coin again after reaching as high as $42,600 over the weekend. Bitcoin was last seen exchanging hands at about $39,600 per coin, according to Coinbase data. The weekend rally propelled bitcoin to its highest price since...
India Launches Country's First Digital Currency, e-RUPI, But Does It Have Anything to Do With Blockchain?
In a recently concluded video conference, Indian prime minister Narendra Modi has officially launched India's first digital payment solution, e-RUPI. India's first digital currency is a new tool for digital payments that acts as an e-voucher based on a QR code or SMS string that is delivered to mobile phones.
BlockFi has received another cease and desist order for offering unregistered securities; this time, in the state of Kentucky. The Kentucky Department of Financial Institutions (DFI) issued the cease and desist order on July 29th and unlike the cease and desist that the New Jersey Attorney General issued to BlockFi, the letter from Kentucky specified why they believed BlockFi Interest Accounts are unregistered securities.
Of the world's major economies, China is closest to creating a fully-fledged central bank digital currency with its digital yuan. Like Bitcoin, the digital yuan facilitates digital peer-to-peer payment. However, it differs in that it is controlled by a central authority rather than relying on a decentralized ledger. Today, over...
U.S. PoliticsPosted bypymnts
Lael Brainard, governor of the Federal Reserve, has said there are a myriad of reasons to begin developing a central bank digital currency (CBDC), Reuters reported. “The dollar is very dominant in international payments, and if you have the other major jurisdictions in the world with a digital currency, a CBDC offering, and the U.S. doesn’t have one, I just, I can’t wrap my head around that,” Brainard told the Aspen Institute Economic Strategy Group, per Reuters. “That just doesn’t sound like a sustainable future to me.”
Digital Currency Means Pennies For People, Bills For Banks and… Moolah For Machines. When the industrial revolution caused an explosion in population and commerce in Georgian England, the lack of money for transactions (coins, basically) shifted from being an annoyance to being a major national problem. There had been money for the wealthy (bank notes and gold and silver coins) but no money for the masses.
Israel investors who hold more than 200,000 Israeli shekels ($61,000) worth of digital currencies may have to report to the tax agency if a new proposed bill becomes law. The bill is seeking to increase the amount of tax the Israeli government collects from the industry, but several leaders in the space are already up in arms against it.
China has been at the forefront of experimenting with a digital currency, with almost 21 million people taking part in digital yuan (e-CNY) tests through June, according to the People’s Bank of China (PBOC). But what is the point of this experiment and what are the business and financial implications?
Over 80 governments throughout the world (representing 90% of global GDP) are researching or experimenting with central bank digital currencies at the moment (CBDCs). Only five nations had launched CBDCs as of July 2021. The Bahamas, Saint Kitts and Nevis, Antigua and Barbuda, Saint Lucia, and Grenada are all Caribbean island nations.
Foreign PolicyWashington Times
A bipartisan group in Congress says China’s impending rollout of its digital currency could challenge the U.S. dollar’s global dominance and pose a threat to national security. With the People’s Bank of China’s (PBOC) stated goal of fielding the digital renminbi by the 2022 Winter Olympics in Beijing, China is...
New stories about central bank digital currencies (CBDCs) just keep coming, and this week we learned that the United Kingdom appears poised to jump on the CBDC bandwagon. U.K. Treasury insiders have confirmed that a task force has been established to explore how the CBDC, which some are dubbing ‘Britcoin,’ might work. The task force will report its findings to Chancellor Rishi Sunak by the end of the year.
Central Bank Governor: South Africa’s Digital Currency Study Ongoing – Fintech Bitcoin News – Bitcoin News
South African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kganyago suggested his organization has embarked on this study to keep abreast with the growing trend of central banks that are studying CBDCs.
Talking on Friday at the Aspen Institute Economic Strategy Group Federal Reserve Governor Lael Brainard spoke strongly in favor of a U.S. central bank digital currency (CBDC). According to a Reuters report, she cited the progress made by other countries as a key reason for the U.S to advance its research into a digital dollar.
Critics have argued about crypto’s potential use in criminal activities such as money laundering. However, the recently appointed chief digital currency advisor for the Financial Crimes Enforcement Network (FinCEN) views digital currencies as just another means of payment. In an interview with Law360, FinCEN digital currency advisor Michele Korver said...